ONTARIO, Calif.—CU Direct’s board of directors has approved a 3% cash dividend to be paid to its 104 credit union shareholders.
It is the tenth consecutive year the company has paid a cash dividend to shareholders. In 2014 CU Direct credit unions funded more than 1 million auto loans through the company’s CUDL lending platform, generating $22 billion in loans.
Last year CU Direct’s credit unions increased loan growth 29%, making CU Direct credit unions, as an aggregate, the third-largest auto lender in the nation, after being ranked the sixth-largest in 2013.
“We are pleased to provide a strong return on investment to our shareholders for the tenth year in a row,” said Tony Boutelle, president and CEO of CU Direct. “We continue to deliver innovative lending solutions that help credit unions improve member auto buying and lending experiences, and grow their loan portfolios.”
At year’s end 1,074 credit unions, serving 41 million members, were utilizing the company’s lending solutions, including mobile technology, lending platforms, analytics and reporting, auto-buying tools and retail lending products.
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