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CULA Posts Record Originations

By Staff Writer July 19, 2021

Credit Union Leasing of America (CULA) announced that vehicle leasing through its credit union partners continues to gain momentum, after posting its 9th consecutive month of record lease originations in June. After achieving $150 million in lease originations in a single month for the first time in October 2020, CULA broke $200 million in lease originations in a single month for the first time in its history in May of this year. That was followed by more than $215 million in lease originations in June. 

The first six months of 2021 brought in over $950 million in lease originations, an 88.8% increase over the same period in 2019, and the highest period of originations in its more than 30-year history. CULA is a leader in indirect vehicle leasing for credit unions and has originated more than one billion dollars in vehicle leases for credit unions annually on average since 2018. CULA helps credit unions grow membership, diversify lending options, and increase yield, including nine of the top 10 credit unions offering car leasing in the U.S. 

Meanwhile, CULA has also increased its engagement with auto dealerships during the past six months, hitting new records for auto dealerships submitting leases through CULA credit union partners.

“These record numbers were greatly helped by the increase in the number of our valued auto dealer partners in new and existing markets, all of whom benefitted from the data, analytics and communication specific to each dealer’s inventory that our team provides every day,” said CULA’s Mark Chandler..”

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Last modified on Wednesday, 21 July 2021 14:48