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CU System
AVCUs indirect lending program had banner year
SOUTH BURLINGTON, Vt. (1/12/10)--Consumers turned to Vermont credit unions for help with their finances during the economic downturn in 2009, and the data from the Association of Vermont Credit Unions’ (AVCU) 2009 indirect lending partnership with CUDL proves the point, AVCU said. Association Vice President Bryan Kent said this week that, on average, a very good year would be around $18 million in loan originations for the 10 credit unions and 140 vehicle dealers in the program (Newslines Express Jan 11). “In 2009, our member credit unions booked more than $45.5 million in originations via the indirect program with an average credit score of 707,” he said. “Those are absolutely incredible numbers given the economic climate.” Kent attributed the success of the program to: participating credit unions that realize the value of the indirect channel and have embraced it; outstanding support from endorsed business partner CUDL; and the energetic professionalism of CUDL’s Area Account Representative Shelley Facos.
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