CENTENNIAL, Colo. (11/2/12)--CU Direct Connect LLC, a credit union service organization, has signed an agreement with AutoNation Inc. that names CU Direct Connect as a preferred lender for all AutoNation dealerships in Colorado.
CU Direct Connect, through its 34 member credit unions, is collectively the largest auto lender in Colorado while AutoNation, with its 17 Go dealerships, is the largest volume auto dealer in the state.
"It makes sense for the Colorado automotive market's largest lender group and largest dealer group to cooperate for mutual growth and benefit," said Tom Helmers, CU Direct Connect chief operating officer. "We've enjoyed a positive relationship for many years, and this new preferred lender agreement will help us move that relationship to an even higher level going forward."
The parties expect the agreement to lead to mutually beneficial increases in automotive loan and lease volume and revenues, the companies said. Through three quarters in 2012, CU Direct Connect has experienced a 43% increase year over year in loan volume and a 67% increase in lease volume.