Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Products
CUs Drive Dealertrack Network Growth
LAKE SUCCESS, N.Y. (1/2/14)--Dealertrack Technologies announced that the number of lenders connected to its Dealertrack Credit Application Network has surpassed 1,400, including more than 700 credit unions nationwide.
 
The Dealertrack Credit Application Network, which has grown from five lenders in 2001, allows dealers to electronically submit application data to a network of credit unions and other financial providers.
 
"As automotive retail and credit markets continue to improve and better processes are put in place, we anticipate lenders will deploy more capital into automotive lending and concentrate on building more active relationships with dealers going into 2014," said Michael Collins, vice president, Lender Finance Solutions.
 
Among the credit unions that have found success with Dealertrack is $675 million-asset Truity FCU, Bartlesville, Okla.
 
"Integrating Dealertrack into our indirect loan process has helped us add 17,000 members and increase our loan volume by 340% over five years," said Steven Meyer, Truity FCU vice president of consumer lending.


RSS print
News Now LiveWire
.@TheNCUA open board meeting starts at 10 a.m. ET tomorrow. It is board member J. Mark McWatters' first. Watch @NewsNowLiveWire
10 hours ago
.@CFPB is proposing to oversee larger nonbank auto finance companies for the first time at the federal level.
10 hours ago
.@CUNA's Bill Hampel moderates a discussion on the future of credit unions in the post-100 million member world. http://t.co/kcXykiRQVn
13 hours ago
#Breaking: QE likely to end next month, @federalreserve says #NewsNow #Market http://t.co/u7Fb5l5fwM
13 hours ago
.@Experian study confirms that building a credit history is beneficial to financial marginalized communities. 64M are "credit invisibles"
13 hours ago