Whether you’re purchasing a new or used vehicle, getting a credit union auto loan is a fantastic way to get a great interest rate. And, thanks to the Credit Union Direct Lending program, it’s now easier than ever, too. We spoke with DCCU’s Lending Director, Josh Rounds, to get the scoop on how the CUDL program helps members at the dealer!
What is the Credit Union Direct Lending (CUDL) program?
The CUDL program is a way for members to access financing from a credit union at an auto dealership.
The process of getting a loan through DCCU at the dealership is very simple. When purchasing a car at a participating dealership, simply let the finance person know you want to obtain credit union financing and they will submit the application for you. Once approved, all of the necessary paperwork can be completed at the dealership.
How long does the process take?
It generally takes 15 minutes or less to get an approval.
What kind of interest rates are available through the program?
The interest rates through CUDL at the dealership are the exact same as if the member were at their credit union.
What are some benefits of getting a credit union auto loan right at the dealership?
The main benefit to getting credit union financing at the dealership is simplicity. This program allows for a seamless, hassle-free transaction, all while obtaining their vehicle financing through a trusted financial cooperative. And there truly are no drawbacks.
Can anyone participate in the CUDL program?
Yes. As long as you qualify for credit union membership, you are eligible to obtain your loan at a participating dealership. Upon approval, you will then be a member of that credit union, too!
Dane County Credit Union has been a proud participant in the CUDL program for over 10 years!