We are proud to report that 2022 was the best year ever for Origence, marked by record-setting achievements and transformative initiatives. As a credit union service organization (CUSO), this success truly belongs to our credit union partners and their continued support.

In 2022, Origence remained true to our vision to create the ultimate origination experience, serving 1,100 credit unions representing 64 million members. Our dealer coverage now includes 19,700 dealerships on the CUDL^® network.

This network effect helped fuel our Total Funded Loans, which reached an all-time high of $79.7 billion, with $67.1 billion attributed to Indirect Loans. Credit unions funded an astounding 2.7 million loans through our platforms, with 1.7 million of those funded digitally through Smart Fund, our e-contracting solution. Origence Lending Services, our subsidiary, which allows credit unions to outsource their loan processing, also turned in a record year with an 83% increase in Loans Funded over 2021. As a result of this positive performance, we were excited to announce a $50 per share dividend payment to shareholders.

A new era for our company
While achieving record-breaking results, we focused on strategic auto lending initiatives to create additional value for credit unions. Our shift to the Scaled Agile Framework^® (SAFe^®) enhanced our product development, fostering improved quality output and employee engagement. During 2022, we improved the resilience of our business by investing in the future and moving all of our products into the Azure Cloud. This allowed us to deliver heightened system uptime and stability while providing added flexibility for new product releases.

These initiatives were essential as we lay the groundwork for next-generation solutions and platforms to help credit unions remain competitive amid evolving consumer behavior. Origence is committed to connecting credit unions to new lending channels and securing “top-of-funnel” opportunities.

Our annual users’ conference, Lending Tech Live, returned to in-person and was our highest-attended event ever. It was also where we proudly announced that, moving forward, CU Direct would do business as Origence. The Origence name was originally launched as our credit union brand and now extends to encompass all of our solutions. Embracing the name Origence, which was created by combining the words “origination” and “experience,” symbolizes our commitment to transforming the lending and financing experience for credit unions and dealerships.