CUDL White Paper Identifies Keys to Increasing Look-to-Book Ratios

CUDL, administrators of the nation’s largest auto lending network for credit unions, consisting of over 1,000 credit unions and 9,000 auto dealers, has developed a new white paper detailing best practices in achieving higher look-to-book ratios.

The white paper, “Best Practices to Secure Higher Look to Book Ratios,” offers critical insight to the credit union best practices and processes that help lead to higher funding rates. The paper focuses on a sampling of credit unions from across the U.S., with various asset sizes and loan volumes, to shed light on how these credit unions managed to establish and maintain LTB rates in excess of the national credit union average. Click here to download the white paper.

The white paper notes that a number of key factors attributed to the credit unions’ success in achieving high LTB ratios, including their ability to build strong relationships with dealers and implement a solid, competitive lending program. Additionally, the paper points out that fast response times, dedicated staff and program consistency helped these credit unions foster greater dealer appreciation and interdependency, which led to higher loan volumes.

Keeping lending parameters consistent, well-documented and within grasp of the dealerships’ vehicle financing staff helped to heighten awareness of the credit unions as a likely “go-to” lending option. All credit unions that were achieving high LTB attributed their success to constant two-way communication with dealers.

“By developing this white paper, we hope to provide credit unions with important insight to how they can improve their look-to-book ratios, and, as a result, gain greater volume of auto loans through the indirect channel,” CUDL Chief of Staff Bob Child said.

Submissions to Monitor may be emailed. Bryan Laviolette is the editor of Monitor. Contact him by email or call (800) 262-6285, ext. 233. The newsletter of the Michigan Credit Union League is published Monday mornings or Tuesday mornings when Monday is a holiday. There is no Monitor the week after Christmas and the week after the Annual Convention and Exposition. The MCUL reserves the right to edit submissions for clarity and space.
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