PITTSBURGH, Penn.– A group of credit unions here have formed formed an indirect auto lending credit union service organization (CUSO). Keystone Lending Alliance was created by CUs that had at one time or another participated in indirect lending with other third parties, but were seeking to create a CUSO in order to have better control, according to organizers.
The CUSO was formed with the assistance of Houston-based CUSO Credit Union Acceptance Company, LLC (CUAC). Forming the CUSO were Clearview FCU, West-AirCOMM FCU, Allegent Community FCU, riverset CU and Century Heritage FCU.
CUAC is owned by 13 Texas and Mississippi CUs, in addition to CUNA Mutual. IN addition to indirect lending, it also offers mortgage lending, member car buying assistance programs, CUSO development consultation, dealer-to-credit union loan application platforms, repo liquidation service and credit union marketing services.
