Today’s credit unions have a unique opportunity to gain market share with vehicle leasing, while providing an economical alternative to their members who want or need a car in today’s market. CULA is proud to help UNIFY do just that.
SAN DIEGO and ALLEN, TX (PRWEB)
June 22, 2022
Credit Union Leasing of America (CULA) today announced that its partner UNIFY Financial Credit Union (UNIFY) has successfully launched its indirect vehicle leasing program in Southern California. Partnership Expands CULA’s Vehicle Leasing Portfolio in Los Angeles and Orange Counties, While Expanding Access to Leasing Affordability and Flexibility to UNIFY Members in Southern California . CULA and UNIFY plan to expand the program to other states and regions where UNIFY operates.
UNIFY is one of the nation’s leading credit unions, with over $4.2 billion in assets and over 271,000 members nationwide, and is also the official credit union of the Los Angeles Rams, NFL champions in 2022. UNIFY recently became the first credit union to offer cryptocurrency services, allowing its members to buy, sell and hold bitcoin alongside their traditional accounts within its online banking platform.
“We are excited to work with CULA to bring vehicle rentals to our members in the all-important Southern California automotive market. With vehicle prices at record highs, giving our members access to lower payments than rental can offer has never been more important,” said Gordon Howe, CEO of UNIFY. “Meeting the changing needs of our members in today’s economic climate is our first task. Our partnership with a company with a history of 34 years of leadership in the indirect vehicle rental industry gives us every confidence that our members will be very well served.
CULA pioneered indirect vehicle leasing for credit unions with its high-value, analytics-based leasing program and handles the intricacies of leasing for its customers, including analytics, insurance, operations, compliance and more. CULA is a trusted partner to many of the industry’s most innovative credit unions, including nine of the top 10 leasing credit unions in the United States.
“UNIFY is one of the largest and most forward-thinking credit unions in the country, and we are thrilled to add them to our growing list of credit union partners as they continue to seek ways to better serve their members and stay on the cutting edge of financial service,” said Mark Chandler, vice president of business development for CULA. “With the removal of current manufacturers leasing incentives, today’s credit unions hui have a unique opportunity to gain market share with vehicle leasing, while providing an economical alternative to their members who want or need to get into a car in today’s market. We’re proud to help UNIFY do just that.
Chandler noted that by adding UNIFY to its customer list, dealerships in the Southern California area have even more options to offer rental to their customers. “We’ve been inspired by the fact that our credit unions and dealership partners are seeing great results when working with customers who choose to lease.”
CULA has recently experienced dramatic growth working with its credit union partners. In January, the company announced $2 billion in leases in 2021, a single-year record. The company nearly tripled its portfolio in five years to $3.8 billion and currently offers leasing through credit unions in 17 states. More than 30 credit unions are currently active on CULA’s innovative leasing platform.
CULA’s expertise is in vehicle leasing for credit unions and offers a high-value, analytics-driven leasing program backed by exceptional customer service and proven systems, all with the goal of helping credit unions to achieve their financial and membership goals, improve performance and diversify their portfolios.
About UNIFY Financial Credit Union:
UNIFY Financial Credit Union is one of the nation’s leading credit unions, with over $4.2 billion in assets and more than 271,000 members nationwide. UNIFY has branches across the United States and regional offices located in Torrance, California; Las Vegas, Nevada; Mesa, Ariz.; Allen, Texas. Visit UnifyFCU.com for more information.
About Credit Union Leasing of America
Credit Union Leasing of America (CULA) has been the leader in indirect vehicle leasing for credit unions for over 30 years. Founded in 1988, CULA provides premier program support, analytics reporting, compliance assistance, dealer management tools and member services. The CULA Indirect Vehicle Leasing Program enables credit union innovators to diversify their existing loan portfolios, improve performance and expand member services. Visit https://www.cula.com/ to learn more.
Angela Jacobson, mWEBB Communications, angela(at)mwebbcom(dot)com, (714) 454-8776
Melanie Webber, mWEBB Communications, melanie(at)mwebbcom(dot)com, (949) 307-1723
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