Alliant Credit Union now is originating vehicle leases in four different states thanks to assistance from Credit Union Leasing of America (CULA).

Having supported vehicle leasing for credit unions for more than 30 years, CULA is helping power the expansion of Alliant Credit Union’s vehicle leasing program into Pennsylvania, completing its first leases in the Keystone State in February.

CULA has been successfully working with Alliant Credit Union since 2017, administering its existing vehicle leasing programs in Colorado, Michigan and Florida.

Based in Chicago, Alliant Credit Union is one of the largest credit unions in the nation with more than $13 billion in assets. Alliant’s history spans more than 80 years and it has more than 500,000 members nationwide.

“As consumers emerge from the economic and personal challenges of the pandemic, they are seeking affordable, flexible options in vehicle financing, which is exactly what leasing provides,” Alliant Credit Union vice president of consumer lending Jeremy Pinard said in a news release.

“And, with vehicle leasing representing over one-third of all new auto financing in Pennsylvania, it just makes sense for us to offer it to our members there, and to continue expanding that opportunity to more states nationwide,” Pinard continued.

“CULA has been doing leasing for a long, long time, and they have the historical data to answer any questions a credit union might have. As a partner, they really help you understand the complexities of a lease. Specifically, important elements like residual risk, wear and tear and how that ties into the risks related to leasing,” Pinard went on to say. “With CULA, you can work to create a leasing program that fits your credit union’s desires, goals and expectations.”

CULA enables credit unions to offer the flexibility and affordable payments of new-vehicle leasing, while also helping them grow membership, diversify lending options and increase yield.

CULA experienced first-hand the recent swell of consumer interest in leasing. After the challenges of stemming from spring’s COVID-19 lockdown, the fourth quarter represented CULA’s best quarter ever for lease originations booked through its credit union partners.

“October 2020 was a record-breaking month for CULA, with more than $150M in lease originations in a single month,” CULA president Ken Sopp said. “We finished the quarter strong, and we are well-positioned for a successful 2021.”

And part of the reason CULA can make that claim is because of enhanced relationships with clients such as

“We are excited to further deepen our partnership with Alliant Credit Union as they expand their auto finance offerings into new states,” CULA vice president of business development said Mark Chandler. “Their member-first philosophy, along with their commitment to digital services, means they are well-positioned to meet consumer interest in leasing in today’s new pandemic normal.

“Like Alliant, CULA has a customer-first philosophy, and we are laser-focused on helping our credit union partners achieve their growth goals,” Chandler added.

Visit www.cula.com to learn more details about the firm’s leasing program.