Westlake Financial Services recently acquired Credit Union Leasing of America (CULA).
The purchase of CULA raised Westlake’s total managed assets to $5.5 billion from $4 billion.
Founded by Terry Bowdler nearly 30 years ago, CULA is an automobile lessor in the credit union market. Westlake’s investment will support the continued growth of CULA by providing additional resources and financial stability.
Credit Union Leasing of America will remain headquartered in San Diego, Calif.