CULA Enters Texas Market

By Staff Writer April 21, 2021

Credit Union Leasing of America now offers vehicle leasing services in Texas through its partnership with InTouch Credit Union. ITCU began offering leasing in its home state of Texas in the first quarter of 2021, closing their first leases in the state in March. Credit Union Leasing of America helped InTouch successfully implement their vehicle leasing program in Michigan in the midst of the pandemic, closing their first lease with CULA in November 2020.

Based in Texas, ITCU has close to one billion dollars in assets and serves close to 90,000 members across the U.S., as well as more than 20 countries around the world.

“The success of our Michigan program made the decision to offer vehicle leasing to members in our home state of Texas easy.” said Bridger Robinson, senior vice president of lending and branch operations at ITCU. “Plus, we had a partner in CULA who enabled us to ramp up quickly.”

CULA – which has offered indirect vehicle leasing for credit unions for over 30 years –  provides vehicle leasing programs for credit unions that help them grow membership, diversify lending options, and increase yield. The ITCU leasing program marks CULA’s first leasing offering in Texas where vehicle leasing represents about 15% of all new vehicle sales.

“Texas is one of the largest car markets in the U.S. and, with less than 4% of its credit unions offering vehicle leasing; we believe the opportunity is significant,” said Mark Chandler, vice president of business development at CULA.

CULA experienced first-hand the recent swell of consumer interest in leasing: after a record-breaking Q4, CULA started 2021 with its best Q1 ever.

Rate this item
(0 votes)
Last modified on Wednesday, 21 April 2021 13:34