One million members strong
Currently, CUALN’s network of local participating credit unions have a combined membership of approximately 1,000,000 people. Through targeted advertising, CUALN and its participating credit unions emphasize the benefits of shopping at our network dealerships.
An easy process for the dealership and the buyer
Our goal is, to make the purchase transaction hassle-free for dealers and buyers. The CUALN process gives credit union members the ability to walk into any participating car dealership, find a new or used vehicle, and conveniently finance through their credit union right at the dealership (even during evenings and weekends when the credit unions are closed).
Approved in seconds
As a participating CUALN dealership, your employees will use an online portal to reach a decision engine that will apply the credit union’s underwriting guidelines, loan rates, and payment terms to the loan. Your employee simply inputs the member information and our decision engine makes a loan decision in seconds. Below is a brief overview of the loan approval process for the dealer:
- The credit union member comes to your dealership, chooses an automobile and identifies themselves as a member of a CUALN credit union.
- The dealer enters the applicant’s information via an online portal and a loan decision is made in seconds.
- If approved, the member signs the contract and all necessary paperwork.
- The dealer packages the loan contract and accompanying paperwork, and forwards it to Operations Center for funding.
- Once the loan package has met all compliance standards, the loan is funded and the dealer is paid by ACH.
Increase your lending options in seconds
As a CUALN dealership you will now have additional lending sources in your market. Not only will you have the ability to work with current members , but many of CUALN credit unions allow dealerships to enroll new perspective buyers at the point of purchase.