ORIGENCE PROVIDES RECORD $57.4 BILLION IN LOANS TO CAISSES IN 2021
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Irvine, March 01, 2022 (GLOBE NEWSWIRE) — Origina brand of CU Direct, a leader in lending technology solutions, today announced that it provided a record amount of loans to credit unions through its lending platforms in 2021.
Credit unions funded 2.2 million loans through the Origence Loan 360 and CUDL lending platforms, generating a record $57.4 billion in loans to credit unions in 2021, surpassing the record of $43.5 billion in company-funded loans in 2020. The company grew from nine shareholders in 1998 to 115 shareholders in 2021.
The CUDL Auto Lending Network helped credit unions fund a record $46.9 billion in auto loans in 2021, while CUDL Credit Unions as a whole was the nation’s largest auto lender in 2021, recording loan growth of 13% according to data from AutoCount. The CUDL network has grown to include 16,000 car dealerships nationwide in 2021.
Origence signed new agreements with 38 credit unions in 2021. By year-end, 1,157 credit unions, serving 64 million members, were using Origence’s industry-leading lending technology solutions, including its platforms CUDL lending and Lending 360, Origence marketing automation platform and AutoSMART auto shopping program.
“Credit unions continue to demonstrate their ability to excel in member service efficiency to compete and win in the lending market,” said Tony Boutelle, President and CEO of Origence. “Our commitment to the success of our credit union partners and their members remains at the forefront. We remain focused on delivering innovative lending technology that helps our credit union partners make more loans and create a better member experience.
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About OrigenceOrigence, a brand of CU Direct, provides loan technology that improves the origination experience to increase loan volume, create efficiencies and grow accounts. With Origence, financial institutions can offer consumer and indirect lending with increased levels of productivity and scale, while providing a convenient and personalized borrower experience. Solutions also include marketing automation, automatic purchases, outsourced loan processing, and more. Origence is headquartered in Irvine, California. For more information, visit www.origence.com and follow us on Twitter and LinkedIn.
Bill Meyer PR/Content Manager Origence (949) 214-4098 [email protected]