Ontario, CA — CUDL, the nation’s leading 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 credit union partners at the National Automobile Dealers Association (NADA) Convention (www.nada.org) for the ninth consecutive year. The nation’s largest dealer convention takes place February 4th through February 6th, 2012 at the Las Vegas Convention Center in Las Vegas, Nevada.
During the convention, CUDL will be promoting its growing credit union network, as well as the benefits of a strong credit union and dealer alliance. CUDL will also be showcasing the suite of solutions it’s bringing to dealers including: accessing members that have been pre-approved for auto loans; the opportunity to display inventory to CUDL credit unions and their members through the CUDL AutoSMART vehicle shopping website; and aftermarket products that are helping dealers increase profits. CUDL will be highlighting how these, and other services, can be accessed through its advanced Dealer Portal site, which premiered at last year’s NADA convention.
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 continued to face strong competition in the auto lending marketplace from banks and other lenders in 2011, their monthly market share has grown from 15.2% in March to 17.3% in October, with year to date market share of 16.9% equaling credit unions pre-downturn market share in 2007.
CUDL has grown its national auto lending network in 2011 to include more than 8,000 dealerships and 970 credit unions, serving 28 million members, nationwide, reinforcing the important role credit union and dealer relationships are playing within today’s industry.
“Representing our credit union partners at the convention over the last decade, we have seen significant progress in auto dealers’ appreciation of credit unions,” states Tony Boutelle, CUDL’s President and CEO. “Our goal is to continue to increase dealers’ understanding of the value of our credit union-based lending network, and the many solutions we provide to help them grow their bottom lines.”
For more information about CUDL and CUDL’s products and services, attendees can visit the company’s booth, #1469, at the convention.