CU Direct Connect is Named a Preferred Lender by AutoNation
CU Direct Connect, LLC (CUDC) announced today that it has signed an agreement with AutoNation, Inc. that names CU Direct Connect as a Preferred Lender for all AutoNation dealerships in Colorado. The agreement is effective as of Nov. 1, 2012.
CU Direct Connect, through its 34 member credit unions, is collectively the largest auto lender in Colorado while AutoNation, through its 17 Go dealerships, is the largest volume auto dealer in Colorado.
Tom Helmers, COO of CU Direct Connect, says, “It makes sense for the Colorado automotive market's largest lender group and largest dealer group to cooperate for mutual growth and benefit. We've enjoyed a positive relationship for many years, and this new Preferred Lender Agreement will help us move that relationship to an even higher level going forward.”
The parties expect this agreement to lead to mutually beneficial increases in automotive loan and lease volume and revenues. Through three quarters in 2012, CU Direct Connect has enjoyed a 43 percent increase year over year in loan volume and a 67 percent increase in lease volume.
About AutoNation, Inc.
AutoNation is transforming the automotive retail industry through bold leadership. We deliver a superior automotive retail experience through our customer-focused sales and service processes. Owning and operating 261 new vehicle franchises, which sell 32 brands across 15 states, AutoNation is America's largest automotive retailer, with state-of-the-art operations and the ability to leverage economies of scale that benefit the customer. As an indication of our leadership position in our industry, AutoNation is a component of the S&P 500 Index. AutoNation is driven to be the best-run, most profitable automotive retailer. Follow us at www.facebook.com/autonation and www.twitter.com/autonation.
About CU Direct Connect (CUDC)
CU Direct Connect (CUDC), a credit union service organization, provides a vehicle lending platform and origination funding support to credit unions and auto dealerships. The organization formed in Colorado in late 2002 and currently serves approximately 34 credit unions for vehicle lending in the state of Colorado. CUDC, through its member credit unions, is collectively the largest auto lender in Colorado YTD through Sept. 30, 2012. For additional information go to www.cudirectconnect.com.
CU Direct Connect
Pam Timberman, 720-974-1362