CU Direct Connect Changes Name to Origence Lending Services, Experiences 105% Growth in Credit Union Funded Loans in 2021
Centennial, Colorado, March 02, 2022 (GLOBE NEWSWIRE) — CU Direct Connect, an industry leader in lending operations support solutions, announced it has changed its name to Origence Lending Services, a CU Direct brand.
The new name reflects the evolution of the company, while also more closely aligning its products and services with the Origence brand, providing Origence a more robust portfolio of lending technology solutions.
The company reported significant year-over-year growth in 2021 in both funded loans and transactions through its lending programs and services. The company’s lending operations solutions increased 105 percent over 2020, including a 365 percent increase in funded auto refinance loans, 348 percent increase in funded RV and motorsports loans, and 128 percent increase in funded auto leases. The lending operations provider also reported that transactions across all platforms have increased 65 percent year-over-year.
Lending operations services such as stacking, letter processing, and verification calls also experienced double-digit growth in 2021.
The company touted notable new client signings in 2021, including Bethpage, New York-based Bethpage Federal Credit Union ($11.4 billion in assets), Manhattan Beach, California-based Kinecta Federal Credit Union ($6.6 billion in assets), Tucson, Arizona-based Vantage West Credit Union ($2.5 billion in assets), and Corvallis, Oregon-based Oregon State Credit Union ($2.1 billion in assets).
“Bethpage is thrilled to partner with CU Direct Connect to offer our dealer partners a higher level of service when it comes to leasing a new vehicle,” said Christopher Walsh, AVP Consumer Lending Products for Bethpage FCU. CU Direct Connect provides a complete review of the leasing packages submitted by our dealers to ensure there are no errors or discrepancies and allows us to continue providing a great service experience to our dealers and members.“
“CU Direct Connect has been a great resource in assisting with underwriting for our dealer partners,” said Jim Gibson, Senior Vice President of Branch Services for Oregon State Credit Union. “We currently use CUDL for our dealer referral program and it seemed like a natural fit to use them for support of our weekend, holiday and overflow underwriting needs.”
Credit unions have historically used an outsourced provider for staff augmentation only, but CUDC’s president, Brian Hamilton, stated that “the new value-proposition for lenders is the ability to expand into new markets geographically or to offer new loan products without having to guess at how to staff-up.”
“With innovative technology and versatile domain expertise, Origence Lending Services has helped level the playing field for lenders on multiple fronts. By extending organic workforce capabilities, our lenders have been able to drive operational efficiencies, explore new ventures with less risk, and quickly respond to shifts in the market.”
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About Origence Lending Services
Origence Lending Services, a CU Direct brand, provides lending organizations with flexible lending operations solutions designed to meet shifting demands, complement existing capabilities, and redirect resources to pursue new opportunities for growth. Our mission is to provide lenders with dynamic solutions powered by superior technology and deep industry expertise. Solutions include full-service loan underwriting, processing, call services, letter generation, funding support, and additional origination services. Origence Lending Services is headquartered in Centennial, Colorado. For more information, visit www.origencelendingservices.com.
CONTACT: Bill Meyer, Public Relations & Content Manager Origence (949) 214-4098 [email protected]
