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CUDL Yamaha team up to offer financing tool
CYPRESS, Calif. (11/11/09)--Yamaha Motor Corp., U.S.A., has teamed up with CUDL, a point-of-purchase and indirect auto-lending network for credit unions, to make it easier for Yamaha dealers and consumers to secure retail financing on Yamaha powersports products. The refinance tool initially will be offered to Yamaha dealerships in Arizona, California, Oklahoma, Oregon, Pennsylvania, Tennessee, Utah, Vermont and Washington, with more states to be added shortly, said a joint press release. The partnership means CUDL credit unions can expand their presence in the recreational vehicle market and provides members with a resource that will help drive member financing and loan portfolio growth. Products in the new program include Yamaha motorcycles, all terrain vehicles, side-by-side vehicles, snowmobiles, personal water craft and jet-powered boats. The partnership "will provide our dealer partners with another retail finance option for their customers, particularly the millions of credit union members already in the CUDL network," said Ian Harper, Yamaha's general manager of financial services. CUDL will offer its services to dealers at a reduced rate, Harper said. "This gives our customers more purchasing options along with the ease and convenience of accessing credit union financing directly at their local Yamaha dealership," he said. CUDL partners with more than 700 credit unions that serve nearly 20 million members nationwide. Many CUDL credit unions already offer powersports financing. Jerry Neeman, CUDL executive vice president and chief sales officer, noted the partnership provides an opportunity for dealers and credit unions to "grow their bottom lines" and for credit unions to "capture member loan activity."


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