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Westlake Acquires Lessor

Westlake Acquires Lessor Featured

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.

Westlake Financial appointed Ken Sopp, current vice president of Midway Leasing – Fleet, as chairman and managing general partner of CULA. John Thomas will remain CEO of CULA, and Terry Bowdler will transition to a strategic advisor role.
 Credit Union Leasing of America will remain headquartered in San Diego, Calif.
Last modified on Friday, 16 June 2017 01:37