Lending solution provider CU Direct Corp. said its board ofdirectors recently approved a 3% cash dividend to its 102shareholders.

This is the eighth consecutive year that the CUSO said it haspaid dividends to their credit union and credit union organizationshareholders.

The Ontario, Calif.-based CU Direct said it signed new agreements with 109 credit unionsin 2012. At year's end 1,050 credit unions, serving 34 millionmembers, were utilizing the CUSO's lending solutions.

As credit unions continued to gain momentum in the auto lending marketplace last year, CUDL said the industryexperienced 27% loan growth through November 2012.

Credit unions processed 2.3 million loan applications throughthe CUDL lending platform in 2012, generating 605,700 loans atdealerships nationwide for $13.1 billion in credit union autoloans, according to the company.

The CUSO also reported that 34% of the loans generated throughthe CUDL system in 2012 went to existing credit union members atthe point-of-purchase in the dealership.

“We are pleased to present our shareholders with a cash dividendfor the eighth consecutive year,” said Tony Boutelle, president/CEOof CU Direct. “We continue to strive to deliver the products, toolsand services that help credit unions' improve their members' autobuying and auto lending experiences.”

CU Direct's offerings include CUDL, Lending Insights, Lending360, CUDL Retail, Vero, and a suite of auto buyingproducts.