CUDL to Represent Credit Unions at the 2011 National Automobile Dealers Association Convention and Exposition
For Eighth Consecutive Year,CUDL will promote the importance, benefits of a credit union and dealer alliance at nation’s largest dealer convention.
Ontario, CA, January 14, 2011¾ CUDL (www.cudl.com), the nation’s leading indirect and point-of-purchase auto lending solutions CUSO, and administrators of the nation’s largest auto lending network for credit unions, has announced that the company will be representing its more than 900 partnering credit unions at the National Automobile Dealers Association (NADA) Convention for the eighth consecutive year. The convention takes place February 5th through February 7th, 2011 at the Moscone Convention Center in San Francisco, California.
Building upon the company’s previous success at NADA, CUDL will continue efforts to further advance dealer awareness of the value of its growing credit union lending network and benefits of a strong credit union and dealer alliance. During the event, CUDL will also be highlighting the ever-expanding suite of solutions it’s bringing to dealers.
The largest event for automobile dealers in the U.S., the NADA convention draws attendance from approximately one third of all U.S. dealerships. Adding to the draw of the convention, the National Automobile Dealers Association reports that they represent approximately 20,000 franchised new car and truck dealers holding nearly 43,000 separate franchises, domestic and international.
Although credit unions have faced strong competition in 2010, with the return of banks and other lenders to the auto lending marketplace, credit unions have seen their market share gain momentum the second half of the year, going from a low of 16.2% in March, to a year-to-date market share of 17.6% in November.
CUDL continued to experience growth with its national auto lending network in 2010, signing 151 new credit unions and 1,158 new dealerships, reinforcing the important role credit union and dealer relationships are playing within today’s industry. Currently, CUDL’s national lending network includes 6,900 dealerships and 920 credit unions, representing 27.5million members, nationwide.
“CUDL’s representation of its 900 credit union partners at the convention further underscores the significance of relationships between credit unions and dealers, and emphasizes the importance credit unions’ see in partnering with dealers to get credit union members into new cars,”stated Tony Boutelle, CUDL’s President and CEO. “Our goal is to increase dealers’ awareness of the value of our credit union-based lending network and the many tools we provide to help them grow their bottom lines.”
For more information regarding the NADA Conference and Exposition, credit unions can visit www.nada.org. Credit unions interested in participating at the CUDL Credit Unions’ booth during NADA 2011 can contact CUDL via email at firstname.lastname@example.org.
For more information about CUDL and CUDL’s products and services, visit us at booth 2036s during NADA.
Based in Ontario, California, CUDL® (a CU Direct Corporation flagship brand) is the leader in indirect and point-of-purchase lending services for the credit union industry. As a Credit Union-owned Service Organization, CUDL develops custom applications, training and marketing programs to help credit unions achieve their indirect vehicle lending goals.
More than 900 credit unions and 6,900 dealerships nationwide rely on CUDL’s national lending network to better serve members’ vehicle shopping needs and drive member financing at the point-of-purchase. For more information about CUDL visitwww.cudl.comand www.cudlautosmart.com.