Credit Union Leasing of America (CULA), a national provider of indirect vehicle leasing solutions, announced that it is partnering with Jolt Credit Union, a Saginaw, Mich.-based credit union that manages more than $483 million in assets, to bring vehicle leasing to its over 27,000 members. With this partnership, CULA continues to grow its presence in Michigan, a state where credit unions are increasingly turning to leasing to help members manage the rising cost of vehicles. CULA currently partners with 40 credit unions across the US, representing over $146 billion in assets and serving over 7.6 million credit union members.
“Vehicle prices remain high, and affordability continues to be a top concern for consumers across Michigan and the country. Leasing can meaningfully lower monthly payments. In fact, CULA saved credit union members an average of $169 on their monthly payments last year compared to financing a similar vehicle. We’re proud to partner with Jolt Credit Union to bring that kind of value to their members,” said Ken Sopp, President of CULA.
Jolt Credit Union has served its community for more than 70 years, guided by a longstanding philosophy of “People Helping People.” Formerly Catholic Federal Credit Union and originally chartered in 1956, Jolt is a member-owned cooperative focused on giving members the tools and guidance to reach their financial goals. Adding vehicle leasing through CULA extends that member-first approach to the showroom, giving Jolt a new way to keep members in an affordable vehicle while providing another lending option for the credit union.
“CULA’s program streamlines leasing’s complexities, enabling us to add vehicle leasing to our portfolio. And this is important because leasing gives our members a more accessible, flexible path to the vehicle they need, at a payment they can manage,” said Alan Watson, President and CEO, Jolt Credit Union. “We’ve served this community for more than 70 years, and adding leasing is one more way to help members reach their financial goals without overextending their budgets.”
The program will be offered through the CUDL dealer network, with support from CULA’s partners at Origence.
