Origence said last week that it closed 2024 with $53 billion in auto-finance funding, serving 2 million members at credit unions that use its lending technology solutions.

And it’s in position for even more growth this year.

The company supports 1,100 credit unions of all sizes, representing more than 66 million members and nearly 20,000 auto dealers. As a result, the company’s market share among $1 billion credit unions has grown to more than 55%.

In 2024, Origence signed 85 credit unions from across the country to use its arc OS loan and account origination platform and CUDL indirect lending platform to originate direct and indirect auto loans.

In addition, a growing number of credit unions modernized their lending solutions by adopting Origence’s document processing automation (DPA).

By leveraging artificial intelligence and machine learning, document processing automation processed, validated, and classified more than 5 million documents, enhancing credit union efficiency, accuracy, and dealer relationships while reinforcing their roles as trusted auto financing partners in today’s competitive marketplace.

“Our accomplishments in 2024 reflect our unwavering commitment to delivering the ultimate origination experience for credit unions,” Origence president and CEO Tony Boutelle said. “We are dedicated to driving innovation for the future. By equipping credit unions with solutions that enhance efficiency, grow loan portfolios, and elevate member experiences, we’re helping them remain competitive.”

Origence captured other great milestones throughout 2024, as it celebrated its 30th anniversary serving credit unions and reaching $600 billion in funding since it began in 1994.

It marked the occasion with a special celebration at Lending Tech Live ’24 in San Diego, where hundreds of credit unions joined together and raised more than $130,000 for Children’s Miracle Network.

In addition, Origence’s annual wine auction raised a record $1.85 million for Children’s Miracle Network earlier in the year.

Credit unions will gather again for Lending Tech Live ’25 in Nashville, Tenn., June 16-18.

Origence continues its momentum in 2025 with expanded efficiencies.

With eContracting for CUDL, credit unions benefit from a digital experience that reduces data errors with real-time validation, expedites funding by reducing contracts in transit, and adds efficiencies for managing higher loan volumes, creating a better buyer and dealer experience.

Origence offers eContracting for CUDL to help credit unions overcome challenges related to manual contracts. These challenges include reworking contracts due to errors, losing or straining dealer business from slow funding, and service issues during peak times, leading to lengthy processing and errors.

The company said eContracting addresses this by streamlining the creation, signing, submission, and electronic storage of documents. It optimizes tasks ranging from data validation to final funding, enhancing accuracy and operational efficiency while reducing errors and missing data.

Credit unions leveraging eContracting for CUDL can meet dealer demands for digital contracting, improving productivity and aligning contract details with lender requirements. Faster funding builds trust and loyalty with dealers, while seamless experiences enhance member satisfaction.

Additionally, the solution saves costs by minimizing contract revisions, allowing credit unions to process more loans efficiently without additional resources.

“With members and dealers increasingly expecting a fast and seamless car-buying experience, now is the perfect time for credit unions to adopt solutions like eContracting,” Boutelle said. “eContracting empowers credit unions to enhance their indirect auto financing programs by digitizing the contract process, improving efficiency and accuracy, and delivering faster loan processing times.

“By modernizing their operations, credit unions can strengthen dealer relationships, drive member satisfaction, and ensure long-term success in the auto financing market,” Boutelle went on to say.