Strong Results and Additional Owners for CU Direct Connect in 2012

CENTENNIAL, COLO.--(BUSINESS WIRE)--CU Direct Connect (CUDC) announces that they are experiencing strong auto loan growth in 2012 and that they are proud to welcome two additional owners added to their credit union service organization.

“2012 has been a year of focus, increased communication and service with our member credit unions and our dealers. We are excited about the future and expect to continue to bring new, improving value to our partner credit unions and dealers.”

Through Sept. 30, 2012, CU Direct Connect’s funding volume is up 43% YOY, and its unit/share book value has increased by 9.8% year to date. Blair Korschun, CUDC’s President/CEO, stated, “2012 has been a year of focus, increased communication and service with our member credit unions and our dealers. We are excited about the future and expect to continue to bring new, improving value to our partner credit unions and dealers.”

Rio Grande Federal Credit Union and UNIWYO Federal Credit Union have both recently purchased units in CUILA, LLC (dba CU Direct Connect) to become its newest owners.

Rio Grande Federal Credit Union, located in Grand Junction, Colo., was formed in 1940 to serve employees and families of the Rio Grande railroad. Over the ensuing 72 years they have added to their charter and now include the underserved area of Mesa County, offering a wide variety of consumer, auto, mortgage and commercial real estate loans.

UNIWYO Federal Credit Union, located in Laramie, Wyo., for over 55 years, has been diligently serving the Laramie Community. What was started by nine University of Wyoming employees has grown into a premier financial institution serving over 14,000 members. UNIWYO offers a broad range of products and services including for auto, home, home equity, consumer, student loans and credit cards.

About CU Direct Connect (CUDC)
CU Direct Connect (CUDC), a credit union service organization, provides a vehicle lending platform and origination funding support to credit unions and auto dealerships. The organization formed in Colorado in late 2002 and currently serves approximately 34 credit unions for vehicle lending in the state of Colorado. CUDC, through its member credit unions, is collectively the largest auto lender in Colorado YTD through Sept. 30, 2012. For additional information go to WWW.CUDIRECTCONNECT.COM.