Purpose
The CUAC indirect lending service was formed to assist credit unions in loan retention, loan growth and membership growth by enabling credit unions to provide point of purchase finance opportunities at enrolled auto dealerships. The dealership’s hours of operation become your extended hours of lending and this helps credit unions “save” current member loans and qualifying new member loans.
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Program Mechanics
The CUAC indirect lending services is a full service indirect lending program, CUAC performs the following functions:
- The CUAC indirect lending services is a full service indirect lending program, CUAC performs the following functions:
- Loan origination through DealerTrack™, Route One™ , fax or internet application
- Automated and credit analysts loan decisions
- Loan processing, discounting and auditing
- ACH loan funding
- Dealer sign-up and Representation
On a monthly basis CUAC captures over 400 member loans that shop without getting pre-approved at the credit union.The CUAC Pre-Approval Pro® system bridges the communication gaps between the member, the dealership and the credit union. Through this system, the credit union can input critical information about the member’s loan that can eliminate misquoted rates, terms or instructions.
Member Benefits
Today, automobiles are an integral part of our lives. CUAC enhances member satisfaction by providing the convenience of one-stop car shopping and financing. By aligning with quality dealerships, CUAC creates a safe and stable environment for a member’s auto buying and financing transactions.
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