IRVINE, Calif.-- Origence, a CU Direct brand, is reporting it delivered a record amount in credit union loans through its lending platforms in 2021.
According to the company, credit unions funded 2.2 million loans through the Origence Lending 360and CUDL lending platforms, generating a record $57.4 billion in credit union loans in 2021, surpassing the company’s record $43.5 billion in loans funded in 2020.
Origence noted it has now grown from nine shareholders in 1998 to 115 shareholders in 2021.
More specifically, the CUDL auto lending network helped credit unions fund a record $46.9 billion in auto loans in 2021, while CUDL credit unions, as an aggregate, were the largest auto lender in the nation in 2021, experiencing 13% loan growth, according to data from AutoCount cited by Origence.
The CUDL Network expanded to include 16,000 auto dealers nationwide in 2021, the company added.
New Agreements Signed
Origence reported it signed new agreements with 38 credit unions in 2021, and that by year’s end 1,157 credit unions, serving 64 million members, were utilizing Origence’s lending technology solutions, including its CUDL and Lending 360 lending platforms, Origence marketing automation platform, and AutoSMART auto shopping program.
“Credit unions continue to demonstrate their ability to excel at member service efficiency to compete and win in the lending marketplace,” said Tony Boutelle, president and CEO of Origence. “Our commitment to the success of our credit union partners and their members remains front and center. We remain focused on delivering innovative lending technology that helps our credit union partners make more loans and create a better member experience.”