IRVINE, Calif.– Origence said it is issuing a $50 per share dividend for calendar year 2022. The dividend represents a yield on investment of up to 6% for shareholders based on the average share price paid over time by shareholders, according to the company.
“I am excited to announce this well-deserved dividend payment to our valued credit union shareholders,” said Tony Boutelle, president and CEO. “It was a fantastic year as we helped credit unions fund 2.8 million loans for $78 billion – a 23% increase over 2021.”
As a CUSO, Origence said it fulfills its mission to “deliver the ultimate loan origination experience” by providing next-generation technology such as Origence arc. Origence arc consists of the arc OS origination system, arc DX digital experience for personalized account and membership opening, and arc MX marketing automation solutions.
“With Origence arc, credit unions deliver the modern lending experience that today’s digital-first members demand,” the company added.
In indirect lending, CUDL, an Origence brand, remains the largest credit union auto lending network with 1,100 credit unions, representing over 59 million members and 19,000 auto dealerships nationwide, the company added, noting that credit unions using the CUDL network funded over 1.7 million auto loans in 2022 and have funded over $368 billion in loans total.
“Credit unions on the CUDL program in aggregate have been the country’s largest auto lender for five years in a row,” added Boutelle. “Our focus has always been to help credit unions make more loans and increase their efficiencies.”