RANCHO CUCAMONGA, Calif.-CUDL, the nation's largest indirect lending company, said it is paying its 85 credit union members a 3% dividend for 2008, amounting to $1.3 million.
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CUDL, formerly CU Direct Lending, continued to grow its national auto lending network in 2008, signing 120 credit unions and 651 dealers. By year end CUDL had 704 participating credit unions, representing 20 million members, and 9,894 participating dealers.
In a year highlighted by an economic downturn that resulted in auto sales dropping to a 16-year low, CUDL generated more than 560,000 auto loans at dealerships nationwide. Combined, CUDL credit unions once again ranked as the seventh largest auto lender in the country in 2008.
