CULA upgrades lease management system
This week, Credit Union Leasing of America (CULA), launched a redesign to its proprietary lease management system, Seamless Lease Connection.
In an effort to leverage the U.S. vehicle leasing market that totals $64.6 billion according to Experian, CULA highlighted the upgraded Seamless portal features several enhancements and is now accessible anywhere with an Internet connection.
“With one third of consumers who purchase a vehicle opting to lease, leasing represents a huge opportunity for credit unions. Not only can credit unions increase yield and diversify their portfolios, they can also capture additional business from current members who want to lease and add new members,” CULA chairman Ken Sopp said in a news release.
“Seamless Lease Connection is just one more way that CULA reduces the complexity and resource burden of credit unions, giving them a turn-key vehicle leasing solution that deepens dealer relationships and improves the overall member experience,” Sopp continued.
Incorporating feedback from its credit union clients, CULA developed this version of Seamless in collaboration with Nowcom Corp., a leader in automotive and financial services management technology and a subsidiary of CULA parent company, The Hankey Group.
With the latest Seamless enhancements, CULA has reduced the time required to process a lease, which can improve productivity for both CULA and its clients.
Monika Favreau, lease program manager for Mission Federal Credit Union, is pleased with the new system.
“We love the new Seamless. Funding leases is faster and easier, and we appreciated the smooth roll out of the updated system,” Favreau said.
The new format also can enable CULA to be more agile in responding to clients’ needs due to the online platform that can allow CULA to make future improvements more efficiently.
Seamless Lease Connection is one component of CULA’s successful program and “this launch signifies another step forward in their ongoing evolution,” the company said.
“As the largest credit union leasing partner in the industry, CULA handles the entire lease process from origination to remarketing. CULA helps credit unions be more successful through their time-tested vehicle leasing solution,” the company went on to say.