ONTARIO, Calif.—CU Direct credit unions, collectively, are now the No. 1 auto lender in the nation.
Mid-year data shows CU Direct credit unions have passed Capital One, which is ranked No. 2.
CU Direct CUs have written 568,000 auto loans through June. Capital One stood at 566,000. Wells Fargo is third at 376,000, the company reported.
CU Direct’s 1,100 credit unions using the CUDL Lending Platform have experienced 18.2% growth in 2017 through June, the company reported.
Credit unions on the CUDL platform have been steadily marching up the top-lender ranks in recent years. CU Direct credit unions became the No. 2 auto lender in the country in 2016.