The time trusted program continues to outpace industry growth
San Diego, CA. March 20 – Credit Union Leasing of America (CULA) continued to outpace industry growth, helping its lending partners across the country expand their loan portfolios in 2017 with more than $1 billion in indirect vehicle lease originations, and an active portfolio of nearly $2.5 Billion.
There was significant growth with both long-time CULA partners, as well as success for newly onboarded clients that both outpaced industry growth to deliver strong 2017 results. While the leasing market stayed strong in 2017, CULA substantially over-achieved the market pace. Growth came from a combination of new partners as well as very strong growth with clients that have been CULA partners, some upwards of 15 and 20 years. Those long-term clients have stayed with the program through several economic cycles.
“As the usage-based economy continues to grow, our proprietary algorithmic platform gives our clients a better managed risk program” said John R. Thomas, Chief Executive Officer of CULA. “Today we’re seeing almost 19 out of 20 vehicles at lease end at or above residual value. By delivering a comprehensive, data informed program we’re able to help our lending partners smartly maximize their portfolio return.”
CULA foresees continued opportunity for credit unions in the vehicle market into 2018. With Westlake’s acquisition of CULA last year, the company is on track to continue to expand faster than the market.
About CULA:
CULA powers vehicle leasing programs that enable credit unions to smartly invest in the usage-based economy. We enable our partners to diversify their loan portfolios, expand member services, improve yield, manage risk, and overcome the market complexities and regulations associated with vehicle leasing. We set the standard for data driven leasing analytics, and our comprehensive platform enables a seamless leasing experience. In business since 1988 with 3 U.S. economic downturns under our belt, we strive every day to continue to be a trusted long-term business partner. Best of all, CULA helps credit members drive away in the car of their dreams.
May 23 – 25, 2017
The Cosmopolitan, Las Vegas
Rosen Centre Hotel, Orlando, FL
San Diego – April 5, 2017 – Credit Union Leasing of America (CULA), the leader in indirect vehicle leasing, specializing in the development of vehicle leasing programs for credit unions, welcomes Mason Trullinger as Vice President of Residual Value Risk Management. In that role, he is responsible for residual value setting, risk management and market analytics. Trullinger will report to CULA Chief Executive Officer John Thomas.
Trullinger comes to CULA with more than 12 years of experience in the automotive industry focused on forecasting residual values. Prior to joining CULA, Trullinger spent three years with Toyota Financial Services, where he played a key leadership role in the company’s risk group managing a $40 billion lease portfolio. His role grew to include an advisory role to marketing, product planning, pricing and incentive groups, promoting residual value best practices. Prior to Toyota Financial Services, Mason spent nine years at ALG, Inc.
“We see an evolution occurring in the indirect vehicle leasing industry and think that now is the time for credit unions to take advantage of this sustainable growth opportunity. Adding exemplary professionals such as Mason strengthens our ability further as we serve more credit unions that want to grow their portfolios and offer their members a new service,” says CULA CEO John R. Thomas. “In the short time Mason has been with us, he has demonstrated the skill, leadership and camaraderie we look for at CULA. He is already a valued member of the CULA team.”
Trullinger says he’s excited to join the CULA family. “This company invented the credit union leasing space and I look forward to leveraging my experience on both the captive and guidebook side of the leasing industry to help grow and manage CULA’s lease portfolio. There is no better time for credit unions to add an indirect vehicle leasing program.”
CULA works predominantly with large credit unions that are looking for smart ways to diversify their portfolio of assets with higher-performing options. According to Thomas, auto leasing offers a higher yield and brings much-appreciated value to credit union members.
CULA continues to expand its team based in San Diego. For information on open positions contact CULA directly.
About Credit Union Leasing of America (CULA)
Now in its 29th year, CULA is a smart and reliable choice in indirect vehicle leasing for credit unions. CULA pioneered The Simply Perfect Lease, a low risk, high value leasing program for credit unions supported by stellar customer service and proven systems that make vehicle leasing a win for credit unions, auto dealers and credit union members. With its deep regulatory knowledge and understanding of the credit union model, CULA maintains long-term business relationships with top-tier credit unions throughout the U.S. that want to offer the gold standard in auto leasing programs to their valued members. Visit us on LinkedIn.
Media contact:
Bonnie Shaw
760.230.2424
bonnie@clearpointagency.com
By Sarah De Crescenzo
San Diego-based Credit Union Leasing of America said Wednesday it had broken an industry record by originating more than 100,000 leases.
The company specializes in developing vehicle leasing programs for credit unions. (click here for full article)
CULA expects to continue to grow rapidly as more credit unions are choosing leasing as one of their lending options
Credit Union Leasing of America (CULA), the leader in indirect vehicle leasing, specializing in the development of vehicle leasing programs for credit unions, has surpassed the milestone of 100,000 leases originated. The leases have an aggregate asset value of more than $3 billion. Both milestones are industry firsts.
CULA Executive VP to address why auto leasing is one of the fastest growing offerings at credit unions across the country
San Diego –– Credit Union Leasing of America (CULA), TheSimply Perfect Lease®company, has been invited to present about the flourishing auto lease market at the 2016 Symitar Educational Conference & Technology Expo to be held September 12-15 in San Diego.
Wes Lutz, owner of Extreme Dodge-Chrysler-Jeep-Ram, of Jackson, Mich., began leasing used cars and trucks almost two years ago for the same reason automakers lease new vehicles: to get his customers into late-model vehicles at payments lower than they typically could get with a traditional finance contract. And in this case, payments lower than a new-car lease. (click here for full article)
