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Credit Union Dealer Finance connects to Celero Xchange, bringing automation and convenience to the vehicle loan process

August 13, 2020
Celero and Credit Union Dealer Finance (CUDF) are excited to announce the joint development of an innovative interface and connector that will automate the dealer loan process for credit unions by linking loan data to their core banking systems.

CUDF, a Saskatchewan-based credit union and dealer network representing over 600 dealers, enables credit union members to complete a loan process and vehicle purchase at their preferred dealership, without going into the credit union branch.

By connecting the dealer finance program to Celero Xchange™ banking ecosystem integration platform, CUDF and Celero are streamlining the completion of the loan process and eliminating additional manual intervention. The integration enables multiple credit unions to offer this service to their members and provide faster loan processing and updates on vehicle loans completed through CUDF’s network of dealerships.

“Celero Xchange represents an opportunity for us to continue to innovate our dealer finance program and create a new level of service and innovation for both credit unions and their members. By automating our dealer finance program, we are streamlining back office processes for our clients and enabling them to deliver a more effortless loan experience for members,” says Darren Beasley, Divisional Manager of Dealer Finance at Conexus Credit Union.

10 Saskatchewan credit unions adopting the solution
The integration is planned to be completed in September, and currently, 10 credit unions across Saskatchewan have committed to leverage the solution via their Celero Xchange connectivity.

“We valued the opportunity to collaborate with CUDF to innovate the vehicle loan process for credit unions, and through Celero Xchange, enable them to continue to strengthen their value proposition of delivering convenience and choice to their clients and members,” says Barb MacLean, Director, Application Development at Celero.

By integrating with Celero Xchange, CUDF joins a growing ecosystem of fintech solutions that are enabling credit unions to implement new functionality into their secured systems to increase their speed to market and adaptability in implementing new solutions.

For more information about these solutions, contact CUDF at CUDFdealerfinancecorp@conexus.ca or visit celero.ca/solutions/fintech/celero-xchange.
 

About Credit Union Dealer Finance Corp (CUDF)
CUDF is a dealer finance loans broker serving Credit Unions across western Canada since 1994 with their indirect dealership marketing needs. Returning member and non-member business to the Credit Union is a key driver in all relationships at the retail and dealer level and is central to CUDF’s mission statement To provide Dealership direct Automotive financing for members and non-members alike in a quick efficient manner”. CUDF is jointly owned by Conexus Credit Union, Affinity Credit Union and Innovations Credit Union. CUDF is the largest Credit Union owned company operating in the dealer finance marketplace in Canada. For more information on opportunities to expand Credit Union retail indirect lending please contact CUDF CUDFdealerfinancecorp@conexus.ca.
 
About Celero
Celero is a leading provider of digital technology and integration solutions to credit unions and financial institutions across Canada. Clients trust Celero’s proven track record delivering innovative banking technologies, digital and payment solutions, cloud computing, outsourcing, IT and advisory services. Celero offers reliability and security through its world-class hosted banking system and data center operations. With key partnerships across the globe, Celero also brings the scale and extensive capabilities of multinational technology companies and the focused expertise of fintech startups. For more information, visit celero.ca.