Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Products
CUDL looking to create acceptance corporation
RANCHO CUCAMONGA, Calif. (7/21/08)--CUDL, an indirect lending business partner for credit unions, has asked the National Credit Union Administration for permission to create an acceptance corporation. CUDL believes that creating the corporation would help credit unions make auto loans more efficiently, according to Tony Boutelle, CUDL president. CUDL also “has no intention of having our acceptance corporation compete with other credit unions,” Boutelle told News Now. The NCUA has not given CUDL a time frame or indication on whether the corporation would be approved. “This is the first step in the blueprint,” Boutelle said. “(The corporation) is something that we think makes sense.” CUDL is owned by 85 organizations, including 76 credit unions. It arranged 556,000 auto sales worth $12 billion last year.


RSS print
News Now LiveWire
NCUA re-schedules start of tomorrow's closed meeting to 9 a.m. ET. Open meeting still at 10 a.m. ET.
15 hours ago
.@lisamurkowski @SenatorEnzi @SenJohnBarrasso are latest to weigh in on NCUA risk-based capital proposal. See #NewsNow tomorrow for more
16 hours ago
Now up on News Now: Fed stays course on taper, interest rates http://t.co/6DntsW58vA
18 hours ago
Positive performance indicators and the potential for rising interest rates in @TheNCUA 's latest economic update. http://t.co/yptPbIGvnU
21 hours ago
The @CFPB has launched a nationwide effort to provide financial education. http://t.co/sF3FXHpv3k
21 hours ago