HAUPPAUGE, N.Y. — CU Xpress Lease said its September
activity reached a one-year high showing growth of 64.88 percent in lease
volume year-over-year and 36 percent year to date.

Officials said the vehicle
leasing program available to current credit union members or individuals
eligible for credit union leasing originated $20 million in leasing in
September. 

Volume leaders included Nassau Educators Federal Credit
Union, Teachers Federal Credit Union and Bethpage FCU on Long Island; Sunmark
FCU, which serves the Capital District in New York and Pinnacle FC headquartered
in Edison, N.J.         

Meanwhile, CU Xpress Lease's FICO credit scores now average
771, underscoring super-prime quality credit on leases. This compared to 777 in
2011, reflecting the fact the credit unions are buying a bit deeper in line
with the industry.

CU Xpress Lease chief executive David Jacobson said the
dramatic increase stems from the fact credit unions have made a larger
commitment to leasing. 

Jacobson said delinquency on leasing is well below levels
seen on all other auto lending products, and credit unions can realize a better return
on investment and incremental loan growth over and above retail lending.

Moreover, Jacobson said the risks once associated with
leasing have been dramatically reduced as a result of the CU Xpress proprietary
leasing program structure.

"The growth we've seen encompasses all of our markets,"
he said. "Since the release of the 2013 model car year, we have been on fire to
the point, and we are forecasting the momentum will continue, which is great
news because manufacturers have been more competitive in 2012 to the point
where we should beat our 2011 numbers by 25 percent."