CUDL makes Minnesota push.

CUDL and the Minnesota Credit Union Network announced that they have entered into a marketing agreement.

MnCUN will market CUDL's auto lending products and services to credit unions and streamline the process for credit unions that want to use CUDL's auto lending solutions.

Bill Meyer, communications coordinator for CUDL, said that the Minnesota partnership is similar to the partnership the CUSO has with the Michigan Credit Union League.

MnCUN and CUDL will jointly market CUDL's auto lending portal, its AutoSMART vehicle research, DecisionMaker decision engine product and its risk management tools.

"Indirect lending can be a very important tool for credit unions in offering members the service and convenience they need," said Vickie Ganrude, MnCUN director of business development. "CUDL's suite of products and services will help our credit unions better serve their members."

With George Burns, commissioner of the Nevada Division of Financial Institutions, making the statement that some Nevada credit unions have shown a 50% to 75% drop in CUDL over the past few months (see CU Times, Sept. 23, 2009 2009), Meyer said that the new agreement and marketing push is not a reflection of the downturn in the auto lending market but that CUDL has always found success partnering with regional and state credit union leagues.

"It's something we're always going to continue to do. It's part of the on going belief to nurture and develop partnerships whenever we can."

In the current economy, CUDL advises its credit unions that while they should still look to advance their programs it is also important to take control and review lending practices.

"Nevada isn't the only state that is obviously having issues in this economy. We're continuing to tell our credit unions that they have to have consistent review of lending practices and stay on top of it and watch over it," Meyer said.

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