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CUDL pays 1.4M in dividends
ONTARIO, Calif. (2/22/10)--CUDL, which administers an auto lending network for credit unions, announced that the company’s board of directors approved a 3% dividend, totaling $1.4 million to be paid to its 87 member credit union shareholders for 2009. The dividend is 3% of the current share price of $1,000. This is the fifth consecutive year CUDL has paid a dividend to its credit union shareholders. Combined, CUDL credit unions grew market share to become the fifth largest U.S. auto lender in 2009, the company said. CUDL generated more than 518,000 auto loans at dealerships nationwide in 2009. About 32% of the loans went to existing credit union members at the point of purchase. CUDL also signed 136 new credit unions in 2009, totaling more than 750 participating credit unions nationwide. They represent 21 million members. About 6,200 dealers participate. CUDL is a credit union service organization based in Ontario, Calif.


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