GRAND RAPIDS, Mich.–Lake Michigan Credit Union has selected the CUDL auto lending platform from Origence to drive its indirect lending program.
The $7.4-billion Lake Michigan CU said as a result of the new agreement, the credit union will be using the CUDL platform and AutoSMART car shopping program to expand its digital presence with members, cultivate lending efficiency, and strengthen its position as a market leader.
According to the nation’s largest credit union auto lending network, CUDL connects lenders to 15,000 auto dealers nationwide. Collectively, the 1,100 credit union partners on the CUDL platform have been the nation’s number one auto financing source since 2017, the company noted.
“CUDL has been great to work with and we are excited for all the internal efficiencies we will gain,” said Alicia Force, vice president of consumer lending for Lake Michigan Credit Union. “With that said, the most important thing to me is member experience, and CUDL’s member facing platform (AutoSMART) is exceptional. I’m really looking forward to our digital presence moving to the next level. I think our members will love it.”
The company added the dynamic platform gives lenders a distinct market edge, providing improved pull-through rates with pre-approval solutions, and complete control over underwriting guidelines for increased loan quality.
“The landscape of lending is changing and credit unions realize the importance of a digital auto lending network to remain competitive,” said Tony Boutelle, president and CEO of Origence. “We look forward to working closely with Lake Michigan Credit Union, helping them to successfully leverage the CUDL indirect lending network and Origence’s digital lending technology to deliver a long-term strategy with an unsurpassed member lending experience.”