For additional information, visit us online at About LoanStar CUDC, through its member credit unions, is collectively one of the largest auto lenders in Colorado and is actively expanding into new markets. Based in Colorado, CUDC currently serves 39+ credit unions throughout Colorado, Wyoming, and Arizona for vehicle lending, which supports the hundreds of auto dealer partners currently enrolled in the CUDC program. CUDC enables any size credit union to generate auto loans and acts as a risk consultant to all partners.
We look forward to enabling credit unions to grow through this channel without needing to invest heavily in their own back-office operations,” explains Brian Hamilton, President of CUDC.Īndrew Turner added, “We couldn’t have selected a better partner than CUDC to assist with our customers’ needs for outsourcing – not only do they understand the business, but the whole team came from lending operations.”įormed in 2002, CU Direct Connect (CUDC) is a credit union service organization (CUSO) providing state of the art vehicle lending and origination-funding platforms utilized by credit union members and auto dealer partners. Beyond that, however, it is a high-transaction business that requires responsiveness and coverage outside of standard business hours. “The business development and product aspects are critical for credit unions to succeed in this market. CUDC provides lenders with flexible outsourced lending solutions that meet shifting demands, complement existing capabilities, and redirect resources to pursue new opportunities for loan growth. “As we continue to explore new ways to reach and serve credit unions and their members, we are excited to announce the next evolution in point-of-sale financing through our collaboration with LoanStar,” said Brian Hendricks, Chief Product Officer for CU Direct.Īs part of the joint venture, CU Direct Connect (CUDC), a subsidiary of CU Direct, will be LoanStar’s exclusive provider of BPO services, providing outsourced processing and underwriting services for retail merchant financing. Most notably, LoanStar provides crucial business development support to help ensure lender success.Īndrew Turner, CEO of LoanStar shared, “We are excited to partner with such a well-known organization like Origence to help their lending partners diversify their portfolios while offering their members a new ability to borrow at the point-of-sale.”
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The company offers a wide range of flexible and competitive financing options, and provides consultation on how to win market-share. Through its MerchantLinQ portal, LoanStar provides a world-class system that is fully branded for its credit unions. Through this new partnership, credit unions will have the ability to capture loans at the point of sale, when and where members make large purchases. IRVINE, CA (November 11, 2021) - Origence, a CU Direct brand, a leader in lending technology solutions has announced an exclusive partnership with LoanStar Technologies to provide retail merchant financing to credit unions.Īs a result of the partnership, LoanStar will provide Origence credit unions with vital B2B support to connect with merchants, which has historically been a challenge for credit unions.
Origence and LoanStar enter exclusive partnership to deliver retail merchant financing to credit unions
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