Lending Network Initiates Agency Search

LOS ANGELES Credit Union Direct Lending has launched a search for an agency to build a cooperative advertising campaign on behalf of its members, the company confirmed.

This is a new assignment, said Keven Ellison, vp of marketing and communications for the lending network in Rancho Cucamonga, Calif. Work will include creative and media for a test-market campaign to run in Los Angeles, Orange, San Bernardino, Riverside and Ventura counties. CUDL works with 116 credit unions in the Los Angeles area, Ellison said.

Billings are less than $1 million, although that figure could grow if CUDL extends the campaign to other markets, Ellison said. CUDL, which combines credit union financing on a Web-based platform for auto dealers and is owned by credit unions and credit union organizations, currently operates in California, Nevada, Oregon, Washington, Texas, Florida, Massachusetts, Rhode Island and New Hampshire.

CUDL issued requests for proposals last week to five shops, including four in the Los Angeles area and one in Canada, said Ellison, who declined to name the agencies. The company is looking for agencies that have credit union and auto finance or automotive experience, Ellison said.

“The challenge we’re facing is doing marketing and advertising to consumers, and letting them know they can get a great credit union loan at the dealers,” said Ellison, adding that the company previously targeted credit unions and auto dealers to build the program.

Responses to the proposal request are due April 28, Ellison said. Presentations are expected to take place on May 7, with a decision the week of May 12, he said.