ONTARIO, Calif. (12/26/12)--CUDL, which administers the auto lending network for credit unions, will represent more than 1,000 credit union partners at the National Automobile Dealers Association (NADA) Convention for the 10th consecutive year.
The nation's largest auto dealer convention takes place Feb. 8-11 in Orlando, Fla. More than one third of all U.S. dealerships attend the convention each year.
During the convention, CUDL will promote its growing credit union network as well as the benefits of a strong credit union and dealer alliance. It also will showcase a suite of products, including AutoSMART program and the CUDL Dealer Portal site.
AutoSMART is a vehicle research website, with more than one million cars in dealer inventory. It connects more than 7,000 participating dealers to more than 1,000 credit unions and their 34 million members nationwide.
The CUDL Dealer Portal is a site that helps dealers secure credit union financing for their customers and access pre-qualified credit union members in the market for a vehicle.
Vero, a CUDL subsidiary, will highlight aftermarket products that help dealers retain customers, improve efficiencies and increase profits, said CUDL in a press release
Credit unions' monthly auto lending market share in 2012 grew to 18% in September from 16.3% in March, said CUDL. Year-to-date, credit union market share stands at 17.6% after closing 2011 at 16.9%.
CUDL credit unions are the eighth largest auto lender in the U.S. and experienced 27.4% growth year-to-date. Through November of this year, they funded 600,000 auto loans totaling more than $12 billion.
"Our participation at the convention continues to focus on increasing dealers' understanding of the benefits of the credit union-dealer relationship, as well as the value of our credit union-based lending network and the many solutions we provide to help dealers grow their bottom lines," said Jerry Neemann, executive vice president, CUDL Automotive.
"Over the last decade, we have seen significant progress in auto dealers' appreciation of credit unions and the advantages of credit union-dealer relationships," Neemann said.