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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.


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