How it works

An easy process for you and your members

Our goal is, and always has been, to make the purchase transaction hassle-free for credit unions and their members. The CUALN process gives your credit union members the ability to walk into any one of our 230 participating car dealerships, find a new or used vehicle, and conveniently finance through their credit union right at the dealership (even during evenings and weekends when your credit union is closed).

You retain their auto financing, without members having to place an extra call or visit to your credit union office. Your credit union underwrites the loan, but all the data entry and fact finding is completed at the dealership. If approved, the member signs the contract and all necessary paperwork at the dealership.

The dealer packages the loan contract, and accompanying paperwork, and forwards it to the funding center where the loan package is reviewed for compliance and accuracy. The Funding Department communicates directly with the dealer for any missing documentation that is needed to complete the loan. Once the loan package has met all compliance standards, the loan is funded and the dealer is paid by ACH.

Approved in seconds

The dealership uses our online tools to apply for loan approval. Once approved, the system automatically applies your credit union’s underwriting guidelines, loan rates, and payment terms to the loan.

Indirect lending loan flow

  • Purchaser arrives at the dealership and identifies themselves as a member of a CUALN credit union.
  • The application is entered via CUALN on-line tools.
  • A decision is granted based on credit union custom decision engine or manual underwriting.
  • If approved, the member signs the contract and all necessary paperwork.
  • Dealer will package the loan contract and forwarded it to CUALN Processor.
  • Once quality controlled and approved, loan is funded via ACH.
  • Loan documents are forwarded to credit union for servicing.