RANCHO CUCAMONGA, Calif. — CUDL (www.cudl.com), which administers the nation’s largest point-of-sale and indirect auto lending network for credit unions, has announced that the company will be representing its more than 670 credit unions at the National Automobile Dealers Association (NADA) Convention for the sixth consecutive year. The convention takes place January 24th through January 27th, 2009 at the Morial Convention Center in New Orleans.
The largest event for automobile dealers in the U.S., the NADA convention averages more than 25,000 attendees each year, drawing attendance from approximately one third of all U.S. dealerships. Adding to the draw of the convention, the National Automobile Dealers Association reports that they represent approximately 20,000 franchised new car and truck dealers holding nearly 43,000 separate franchises, domestic and international.
With the current economic conditions forcing many lending institutions to pull back, if not out, from the auto lending marketplace, CUDL considers a credit union presence at NADA will be all the more significant. The company noted the great opportunity this year’s convention in particular presents for highlighting the increasingly important role credit unions are playing in the auto lending marketplace.
Credit unions have continued to display marketplace strength in 2008, providing a significant and reliable lending source for dealers. Credit unions have grown their market share by more than 4 percent in 2008, reaching 20 percent share in September.
Building upon last year’s success at NADA, CUDL will once again provide a unified credit union presence, with the goal of increasing dealers’ awareness of the market place power credit unions possess, representing 86 million potential auto buyers, and to convey the importance and viability of partnerships between credit unions and dealers. Over 1,100 attendees visited the CUDL Credit Unions booth during last year’s event, reinforcing the growing awareness of credit unions’ importance to the industry.
“CUDL’s representation of its credit unions at the convention further underlines the importance of relationships between credit unions and dealers, and emphasizes the value credit unions’ see in partnering with dealers for their mutual success,” said CUDL’s President and CEO, Tony Boutelle.
For more information regarding the NADA Conference and Exposition, credit unions can visit www.nada.org. Credit unions interested in participating at the CUDL Credit Unions’ booth during NADA 2008 can contact CUDL via email at email@example.com.