CU Direct marked its 25th anniversary in 2019. As we look back on our history and how we transformed the company to become today’s leader in lending technology, we celebrate this milestone with immense gratitude to our shareholders and customers. Looking forward we will continue to challenge ourselves to go further, do more, and continue to expand our value proposition.
Over the past two years, CU Direct’s Board and management identified the risks and opportunities in the financial services marketplace and how the Company can best take advantage of them. We recognized the importance for CU Direct to diversify its investments in other loan products as well as take the opportunity to invest in a first ever Enterprise Origination Platform for all loan and new account products. This decision required a substantial investment that will create meaningful benefits to our credit unions. We have adequate capital to make these investments and to endure planned deficits in 2019 and 2020.
In 2019, CU Direct set the foundation to creating the ultimate origination experience for members, credit unions and auto dealerships. We did this while continuing a solid growth trajectory in indirect lending, and our consumer lending platform.
Our CUDL network grew to 1,172 credit unions in 2019 and retained the #1 spot for auto lenders in the U.S for the third year in a row. CU Direct credit unions delivered more than $43 billion in total loan funding. Our dealer coverage throughout the nation also increased to include 15,813 auto dealers on the CUDL network.
In this age of transformation, we are committed to bringing products to market that meet and exceed the needs of lenders. In 2019, we completed the acquisition of CU Direct Connect of Colorado to expand our outsourced loan processing services and indirect lending solutions for credit unions. We also entered the final phase of development for our new point-of-sale experience for mortgage and consumer origination, which will be launched in 2020.
Our new POS will deliver the first ever dynamic application for all loan and account origination types, providing another critical component of our single enterprise platform for indirect, consumer, and mortgage lending.
On behalf of the Board of Directors, management, and staff of CU Direct, I want to thank our stakeholders and partner credit unions for 25 successful years. We look forward to continuing to build a path to a future that benefits the credit union industry and members alike.
For 25 years, CU Direct has been at the forefront of credit union lending.
By bringing engagement, origination, and operations together, we’ve created a suite of solutions that bring efficiency, productivity, and profitability to our partners. In 2019, we introduced our new mortgage LOS, providing a complete, comprehensive and advanced lending experience to credit unions.
As we look back at our history, we’re proud to have built the network, technology, and platform that will drive us into the future of lending.
Engagement
Point of Sale Auto shopping Marketing & CRM
Origination
Consumer LOS Mortgage LOS Indirect lending Retail financing
Operations
Analytics Consulting Outsourced loan processing Insurance & aftermarket
Board of Directors
Financials
2019 CU Direct financials can be viewed on our financials page.
Financials
2019 CU Direct financials can be viewed on our financials page.
Shareholders
- 1st United Services Credit Union
- Advantis Credit Union
- Alliant Credit Union
- Altura Credit Union
- America First Credit Union
- Arkansas Federal Credit Union
B
- Baxter Credit Union
- BECU
- Bellco Credit Union
- Bellwether Community Credit Union
- Bethpage Management Service, LLC
C
- California Coast Credit Union
- California Credit Union League
- Canvas Credit Union
- Centris Federal Credit Union
- Citadel Federal Credit Union
- Clark County Credit Union
- Coast Central Credit Union
- Coastal Federal Credit Union
- CoastHills Credit Union
- Community First Credit Union
- Consolidated Solutions
- Consumers Cooperative Credit Union
- Cooperative Credit Union Association
- Credit Union of America
- Credit Union of Colorado
- Credit Union West
- Cross Valley Federal Credit Union
- CU Dealer Direct, LLC
- CUC Services, Inc.
- CUNA Mutual Insurance Society, Inc.
- Cyprus Federal Credit Union
D
- DFCU Financial
- Digital Federal Credit Union
E
- Eagle Community Credit Union
- Elevations Credit Union
- Erie Federal Credit Union
F
- Financial Partners Credit Union
- First Entertainment Credit Union
- First Financial Federal Credit Union
- First Tech Federal Credit Union
- Frontwave Credit Union
G
- Golden 1 Credit Union
- Goldenwest Federal Credit Union
- Great Basin Federal Credit Union
- Greater Nevada Credit Union
- GTE Financial
H
- Harborstone Credit union
- Hawaiian Financial Federal Credit Union
- Heritage Community Credit Union
- Heritage Family Federal Credit Union
- Hudson River Community Credit Union
- Hudson Valley Federal Credit Union
K
- Kinecta Federal Credit union
L
- LBS Financial Credit Union
- Logix Credit Union
M
- Mazuma Credit Union
- Mountain America Credit Union
N
- NASA Federal Credit Union
- Northeast Credit Union
- Northern Star Credit Union
- Northwest Credit Union Association
- Nusenda Federal Credit Union
- Nutmeg State Financial Credit Union
O
- One Nevada Credit Union
- OnPoint Community Credit Union
- Orange County's Credit Union
- Oregon Community Credit Union
P
- Patelco Credit Union
- Pentagon Federal Credit Union
- Police and Fire Federal Credit Union
- Premier America Credit Union
Q
- Qualstar Credit Union
R
- Redwood Credit Union
- Rivermark Community Credit Union
S
- Sacramento Credit Union
- SAFE Credit Union
- San Francisco Federal Credit Union
- San Mateo Credit Union
- Sandia Laboratory Federal Credit Union
- Schools Financial Credit Union
- SchoolsFirst Federal Credit Union
- Security Service Federal Credit Union
- SF Fire Credit Union
- Sierra Central Credit Union
- Silver State Schools Credit Union
- Sound Credit Union
- South Florida Acceptance Company, LLC
- Southland Credit Union
- Strata Credit Union
- Star One Credit Union
- Summit Credit union
- Sun East Federal Credit Union
T
- Together Credit Union
- Travis Credit Union
- Truliant Federal Credit Union
- Tucoemas Federal Credit Union
- Tulsa Federal Credit Union
U
- UMassFive College Federal Credit Union
- UNIFY Financial Credit Union
- United Local Credit Union
- Unitus Community Credit Union
- University Federal Credit Union
- University of Michigan Credit Union
- University of Wisconsin Credit Union
- USE Credit Union
V
- Valley First Credit Union
- Vantage West Credit Union
- Verity Credit Union
- Visions Federal Credit Union
W
- Water & Power Community Credit Union
- Wescom Credit Union
- WestStar Credit Union
- WSECU
X
- Xceed Financial Credit Union
Y
- Yolo Federal Credit Union