IRVINE, Calif.— CUDL closed 2024 with $41.16 billion in funded loans, the Origence brand reported.
Credit unions on the CUDL platform have been the top auto lender by aggregate volume for more than three years, the company said.
“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 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,” CUDL said.
“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,” the company said.
“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, CUDL president and CEO. “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, CUDL noted.