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CUDL approves 3 dividend totaling 1.3 million
RANCHO CUCAMONGA, Calif. (1/28/08)--CUDL’s board of directors approved a 3% dividend on the current share price of $1,000, totaling $1.3 million, for its 83 member credit union shareholders for 2007. The dividend, which equates to $30 per share, is a 50% increase over the 2% dividend paid to shareholders in 2006 and 2005. CUDL also grew its national auto lending network in 2007, signing 127 credit unions and 1,035 dealers. By year-end, CUDL had 660 credit unions participating, representing 20 million members and 9,263 auto dealers. CUDL member credit unions would collectively rank as the seventh-largest auto lender in the country during 2007, said CUDL. Forty percent of loans generated through the CUDL system went to credit union members. CUDL is a credit union service organization that develops applications, training and marketing programs related to indirect lending for credit unions.
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