Irvine, California, Jan. 23, 2025 (GLOBE NEWSWIRE) — CUDL, the leading credit union vehicle financing platform, closed 2024 with $41.16 billion in funded loans, underscoring its continued strength in connecting dealers with the largest network of credit unions nationwide. Despite a challenging economic climate, CUDL remained committed to driving efficiencies for dealers and lenders by streamlining the lending process and enabling faster funding. As CUDL enters 2025, it launched additional solutions designed to make credit union connections faster and more impactful than ever before.
Credit unions on the CUDL platform remain the top auto lender by aggregate volume for more than three years. In 2024, a growing number of credit unions embraced the AI technology available through CUDL, resulting in faster decisioning and funding. Lenders using document process automation (DPA) reduced funding times by up to 50%, helping dealers cut contracts in transit and deliver faster funding. Additionally, the adoption of CUDL’s AI underwriting tool, Zest.AI, expanded approvals and sped up decisioning, creating a more efficient financing process for dealers.
Entering 2025, CUDL continues its momentum with expanded efficiencies. With eContracting by CUDL, dealers benefit from a paperless, digital experience that streamlines the creation, signing, submission, and electronic storage of vehicle purchase and financing documents. This solution will reduce errors, shorten funding times, and create a better buyer experience. In addition, CUDL launched the Credit Application Update feature, allowing dealers to revise the financial deal structure details on existing applications, reducing the number of duplicate submissions between dealers and lenders.
“In 2024, we took on initiatives that allowed us to continue our mission to increase efficiencies and facilitate success for dealers and credit unions,” said Tony Boutelle, the president and CEO of CUDL. “As we move into 2025, we are excited to build on our momentum and make credit union and dealer connections faster and more impactful than ever before with expansions including eContracting, document processing automation, and credit application updates.”
Dealers benefit from a single platform that provides easy access to multiple credit union lenders, offering buyers affordable financing options with competitive rates and flexible terms. Through CUDL’s network of credit unions, auto dealers are able to provide a more seamless car-buying experience while helping drive the growth of both credit unions and dealerships.
About CUDL
CUDL, an Origence brand, offers automotive dealerships an integrated gateway to the nation’s largest financing network of credit unions and in-market shoppers. Through CUDL, auto dealers connect with more than 1,100 credit unions, providing a fast, seamless credit union financing experience to their members. Credit unions have funded $495 billion in loans through the CUDL platform over the past 30 years. The CUDL AutoSMART website and Spotlight advertising program allow dealers to showcase their inventory and highlight vehicles to millions of credit union members nationwide. For more information, visit CUDL.com and follow us on Facebook, X, and LinkedIn.
About Origence
Origence provides lending technology solutions credit unions need to advance their total origination experience. We were established in 1994 as a credit union service organization (CUSO) and have helped thousands of credit unions process more than 97 million applications, including 8.6 million applications in 2024. Our solutions include indirect lending, loan and account origination, auto shopping, marketing automation, lending operations, and more. Learn more at www.origence.com and follow us on X and LinkedIn.
###
- CUDL finishes 2024 with technology expansion