CU Direct, First Associates Offer New Loan Servicing Solution

CU Direct, a provider of lending solutions to the credit union industry, has partnered with First Associates Loan Servicing to offer a solution that includes services from billing to collections.

“Our goal is to provide leading products and services that help credit unions grow their auto lending portfolios,” said Brent Hollingsworth, national director of strategic alliances at CU Direct, in a statement.

The solution with San Diego-based First Associates can be used to services auto loans — CU Direct’s core product — as well as other personal lending classes such as student loans.

First Associates is a provider of portfolio backup solutions for credit unions and other lenders. Ontario, Calif.-based CU Direct was founded in 1994 and represents more than 1,000 credit unions, which it helps generate loans and manage risk. It’s helped the credit union industry fund more than $120 billion of loans.