CULC, LLC, a registered CUSO doing business as CU Lending Cooperative, is designed to directly compete with marketplace lenders, banks and finance companies with a credit union specific, online, high speed, frictionless lending platform. New members and loan applications will be generated by a network of online loan referral partners that currently occupy the high traffic positions on large Internet search engines such as Google and Yahoo. A younger, tech savvy new potential new member can search and compare our credit union benefits against other options using lead generator web sites such as LendingTree (www.lendingtree.com), NerdWallet (www.nerdwallet.com) and Credit Karma (www.creditkarma.com). Millennial member candidates will now have credit unions as an option to compare prices and benefits such as free checking, higher interest savings, lower cost mortgages, auto loans and member business loans. After two years in development and testing using empirical data, best practices and engineering, CU Lending Cooperative is ready to launch our first initiative; simultaneously acquiring new members and funding high quality, short term and loss protected installment loans into new member share accounts. All online new account originations, loss protected unsecured loans, auto loans, member business loans, mortgages and equity lines of credit will run on our platform and will meet or exceed all credit union underwriting policies and criteria. We are proud to finally “take our place at the table” with the marketplace lender types and surpass them by offering a more attractive array of m ember benefits that we already inherently offer in our Credit Union Industry.
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