ONTARIO, Calif.– CU Direct announced it is paying a 3% cash dividend to its 108 credit union shareholders. This is the eleventh consecutive year that the company has paid a cash dividend to shareholders.
In 2015 CU Direct automobile loan volume generated $26 billion of new loans for credit unions, adding more than 600,000 new members to the credit union movement, and setting new company records.
CU Direct reported it also helped partner credit unions increase loan growth by 13% in 2015, and as a result CU Direct credit unions, as an aggregate, were the third largest auto lender in the nation for the second year in a row. In addition, credit unions on the company’s CUDL lending platform delivered growth rates double the auto lending market in 2015, demonstrating that credit unions can compete with banks and win in the auto lending marketplace, the company said.
“We are pleased to provide our shareholders with a strong return on investment for the eleventh year in a row,” said Tony Boutelle, president and CEO of CU Direct. “Our goal is to deliver innovative lending solutions that help credit unions improve efficiencies and make more loans.”