AutoCountUSA Announces Joint Effort with Credit Unions to Provide Informational Resource for Auto Lending

    ORLANDO, Fla.--Nov. 20, 2002--AutoCountUSA, a national research company for the auto industry, has teamed up with Credit Union Direct Lending (CUDL) and Callahan & Associates to assist credit unions across the country in capturing a larger share of the auto financing market. AutoCountUSA provides comprehensive reporting on new and used car sales and will provide monthly reports to credit unions.
    According to Bob Starr, president of AutoCountUSA, "This joint effort compliments our ongoing strategic plan for national expansion and we're exited about the opportunity to bring value to the credit union industry."
    "Never before has so complete a data source been available so quickly," stated Jay Johnson, executive vice president of Callahan & Associates, Inc. "The AutoCountUSA report can be sorted and tracked by state, county, dealer, lender or group of lenders, which will provide credit unions with a great resource tool to enhance their marketing efforts."
    In these times of slow economic recovery, the new and used auto market has been booming, according to Callahan & Associates, providing an opportunity for credit unions to capture additional auto lending market share. Auto loans comprise approximately 40% of all credit union loans. Auto sales in July 2002 were 8.2% higher than July 2001. The annualized total sales rate is forecast to be 16.5 million units for 2002.
    "The AutoCountUSA report provides Credit Unions with insight into their markets by reporting the current lending relationships within dealerships, thereby identifying their competition and opportunities," stated Keven Ellison, vice president of marketing, Credit Union Direct Lending. "This information is vital for any credit union involved in vehicle financing."
    Callahan & Associates, Inc., headquartered in Washington, D.C., is a national credit union research and consulting firm specializing in financial publications and analysis software, strategic planning and investment management for credit unions for 17 years.
    With headquarters in Rancho Cucamonga, California, the Credit Union Direct Lending program, allows credit union members to receive credit union financing at the auto dealership through an automated decisioning system. CUDL develops custom applications, training, and marketing programs to help credit unions achieve their indirect lending goals. The CUDL program includes 1,644 dealerships and 225 participating credit unions in California, Nevada, Texas, Oregon, Washington, Massachusetts, New Hampshire and Rhode Island. In 2001, CU Direct Corporation funded 140,294 contracts for more than $2.5 billion in credit union auto financing.
    AutoCountUSA provides DMV analysis on new and used car sales on a monthly basis. The company services financial institutions and auto dealerships including IBM Mid America FCU, OmniAmerican Credit Union, Travis FCU, Eastern Financial FCU, Ford Motor Credit, GMAC, Toyota Motor Credit, American Honda Finance, Volvo Finance, Chase Auto Finance, Capital One, Wells Fargo, Bank of America, SunTrust and Wachovia. For more information, log onto http://www.autocount.com.