CRIF Lending in Atlanta has bought the Credit Union Auto Loan Network in Linthicum, Md.
CRIF acquired CUALN through its subsidiary, CRIF Select, according to a Tuesday news release. Financial terms were not disclosed.
CUALN is a credit union service organization of 17 credit unions and more than 200 auto dealerships in Maryland, Virginia and the District of Columbia. The network allows credit unions and dealers to provide credit-union financing to auto buyers at the point of purchase.
CUALN members include the $324 million-asset Belvoir Federal Credit Union in Woodbridge, Va.; the $56 million-asset AFL-CIO Employees Federal Credit Union in Landover, Md.; the $3 billion-asset State Employees CU of Maryland in Linthicum; and the $815 million-asset Educational Systems Federal Credit Union in Greenbelt, Md.
CRIF has been a CUALN partner for many years, Chris Conway, chief executive of Educational Systems FCU, said in the release.
