Return to shareholders caps a profitable year for the credit union service organization (CUSO)
IRVINE, Calif. Jan 17, 2023 – Origence, the leading lending technology solutions provider for credit unions, announced that its Board of Directors has declared the issuance of a $50 per share dividend for calendar year 2022. This dividend represents a yield on investment of up to 6% for shareholders based on the average share price paid over time by shareholders.
“I am excited to announce this well-deserved dividend payment to our valued credit union shareholders,” said Tony Boutelle, president and CEO of Origence. “It was a fantastic year, as we helped credit unions fund 2.8 million loans for $78 billion – a 23% increase over 2021.”
As a CUSO, Origence fulfills its mission to deliver the ultimate loan origination experience by providing next-generation technology, such as Origence arc. Origence arc consists of the arc OS origination system, arc DX digital experience for personalized account and membership opening, and arc MX marketing automation solutions. With Origence arc, credit unions deliver the modern lending experience that today’s digital-first members demand.
In indirect lending, CUDL, an Origence brand, remains the largest credit union auto lending network with 1,100 credit unions (representing over 59 million members) and 19,000 auto dealerships nationwide. Credit unions using the CUDL network funded over 1.7 million auto loans in 2022 and have funded over $368 billion in loans total.
“Credit unions on the CUDL program, in aggregate, have been the country’s largest auto lender for five years in a row,” added Boutelle. “Our focus has always been to help credit unions make more loans and increase their efficiencies.”
About Origence
Origence is a credit union service organization (CUSO) providing financial technology that elevates the origination experience to increase loan volume, create efficiencies, and grow accounts. With Origence, financial institutions can originate consumer loans with greater levels of productivity and increased scale while also delivering a convenient and personalized borrower experience. Solutions also include marketing automation, auto shopping, lending operations, and more. Origence is headquartered in Irvine, California. For more information, visit www.origence.com and follow us on Twitter and LinkedIn.
