Lizeth GeorgeCredit Union Loan Source (CULS), a partner of LEVERAGE, makes joining shared loan pools easy. CULS offers the chance for credit unions to improve their loan to share ratio and increase their yields. The program includes a consistent pipeline of quality, geographically diverse loans. These prime+ quality loans are originated through a network of over 1,300 franchise dealers across twenty-two states.
Despite uncertain times, the credit quality of CULS loans remains high with a YTD weighted average FICO of 760 (Minimum of 640). This is the benefit of a well-managed franchise dealer base across a large geography. Meanwhile, monthly pools are continuing to ensure your investment is reflective of current pricing and risk. Regardless of investment size, participants get a piece of more than 5,000 loans each month so exposure to loan level risk is minimal.
Funded loans are pooled together and sold monthly to over 125 investing credit unions across the country. Though purchases are made each month, due diligence is performed just once, prior to your first purchase. CULS provides a robust package for review that includes all policies, historical reports and even access to CULS loan origination system where all the originating documentation including the loan agreements and credit reports are available for review.
With CULS, you will receive:
- Operational excellence: Industry expertise, uniform credit guidelines, loan documentation, performance analytics
- Investors share in the risks and rewards: Each credit union owns a portion of every loan in the Pool (5,000+)
- Portfolio Diversification: Geographic diversification from 22 states as well as asset class
- Lower risk loans: Prime lending program, nothing subprime (640+ FICO scores)
- Transparency: Regulator-friendly program with a long track record
- Profitability: CULS targets a net yield of 1.50%+ (inclusive of losses)
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