2022 Annual Report
Chairperson and President's Report
We are proud to report that 2022 was the best year ever for Origence, marked by record-setting achievements and transformative initiatives. As a credit union service organization (CUSO), this success truly belongs to our credit union partners and their continued support.
In 2022, Origence remained true to our vision to create the ultimate origination experience, serving 1,100 credit unions representing 64 million members. Our dealer coverage now includes 19,700 dealerships on the CUDL® network.
This network effect helped fuel our Total Funded Loans, which reached an all-time high of $79.7 billion, with $67.1 billion attributed to Indirect Loans. Credit unions funded an astounding 2.7 million loans through our platforms, with 1.7 million of those funded digitally through Smart Fund, our e-contracting solution. Origence Lending Services, our subsidiary, which allows credit unions to outsource their loan processing, also turned in a record year with an 83% increase in Loans Funded over 2021. As a result of this positive performance, we were excited to announce a $50 per share dividend payment to shareholders.
A new era for our company
While achieving record-breaking results, we focused on strategic auto lending initiatives to create additional value for credit unions. Our shift to the Scaled Agile Framework® (SAFe®) enhanced our product development, fostering improved quality output and employee engagement. During 2022, we improved the resilience of our business by investing in the future and moving all of our products into the Azure Cloud. This allowed us to deliver heightened system uptime and stability while providing added flexibility for new product releases.
These initiatives were essential as we lay the groundwork for next-generation solutions and platforms to help credit unions remain competitive amid evolving consumer behavior. Origence is committed to connecting credit unions to new lending channels and securing “top-of-funnel” opportunities.
Our annual users’ conference, Lending Tech Live, returned to in-person and was our highest-attended event ever. It was also where we proudly announced that, moving forward, CU Direct would do business as Origence. The Origence name was originally launched as our credit union brand and now extends to encompass all of our solutions. Embracing the name Origence, which was created by combining the words “origination” and “experience,” symbolizes our commitment to transforming the lending and financing experience for credit unions and dealerships.
Looking toward the future
Our drive to transform credit union lending relies on advancing our solutions and technology. We see this playing out through new offerings in 2023, notably the added ability to apply for, underwrite, and fund HELOCs through our consumer loan origination software.
As the lending landscape evolves, we must also forge strong connections with best-in-breed technology partners. This is especially true in the area of AI and automation. Our industry has exciting AI pioneers, and we are proud to call them strategic partners. In 2022 we announced an integration and investment in Zest AI to incorporate industry-leading artificial intelligence and machine learning into our lending platform. We also announced an integration with Informed.IQ to provide sophisticated document process automation for indirect lending.
Being our authentic selves
At Origence, we empower our people by fostering an environment that values diversity, equity, and inclusion. We were proud to see our Employee Resource Groups (ERGs) grow and flourish over the past year. Our ERGs now include five sponsored groups with 150 participants and have hosted over 20 events.
As we move into the future, we reaffirm our commitment to prioritizing our team, representing the industry, and forging strong collaborations with our clients. These principles remain at the core of our company.
On behalf of the Board of Directors, management, and the entire Origence team, we want to thank you for a successful 2022. We are excited to embark on this next chapter in our company’s history, bringing new ideas, solutions, and opportunities to the credit union industry.
Jim LaffoonChairperson
Tony BoutellePresident & CEO
A Year in Review
Origence had its best year ever in 2022, in collaboration with our partner credit unions and dealerships. As a CUSO, we are proud to serve the needs of credit union members across the country.
1,100
Total financial institutions represented
64 million
Credit union members represented
19,700
Total dealerships
$79.7 Billion
Total funding in 2022
2.7 Million
Loans processed through our platforms in 2022
21.1 Million
Loans processed through our platform
(since company start)
$67.1 Billion
Indirect funding in 2022
$12.6 Billion
Total direct funding in 2022
9.6 Million
Applications processed in 2022
$496 Billion
Total funding (since company start)
479,170
Members served in 2022
(Origence Lending Services)
$17.1 Billion
Total funding in 2022
(Origence Lending Services)
145
Credit unions served
(Origence Lending Services)
116
Shareholders
644
Employees
Vision
To create the ultimate origination experience.
Mission
Diversity, Equity, and Inclusion (DEI)
Origence believes in the power of an inclusive workplace. By empowering our team to be their authentic selves, we position our company to better reflect the diverse communities that we serve. Origence is proud to sponsor Employee Resource Groups (ERGs) that help foster a safe, collaborative work environment:
BEST (Black Employees Striving in Tech)
LIFT (Latinx In Financial Technology)
PRIDE (Promoting Respect, Inclusion, and Dignity for Everyone as LGBTQ+ Employees and Allies)
LEAAD (Leadership Empowerment for Asian and Ally Development)
WILD (Women in Leadership Development)
Our Brands
Origence offers software and solutions to credit unions, financial institutions, automobile dealers, and other businesses marketed under the brands Origence®, CUDL®, Origence Lending ServicesTM.
- Origence arc
• arc DX (all new digital experience)
• arc OS (formerly Lending 360)
• arc MX (formerly Intuvo) - Indirect lending (CUDL)
- Vehicle shopping (AutoSMART)
- Information services
- Financing platform & lender network (CUDL)
- Vehicle shopping & financing solution (AutoSMART)
- Online advertising (AutoSMART PLUS/Spotlight Ads)
- Full-service loan processing
- Underwriting services
- Document services
- Call services
Board of Directors
Chairperson • Jim Laffoon
President & CEO • Security Service Federal Credit Union
Vice Chairperson • Erin Mendez
President & CEO • Patelco Credit Union
Secretary & Treasurer • Bob McKay
President & CEO • Together Credit Union
Bill Cheney
President & CEO • SchoolsFirst Federal Credit Union
Todd Marksberry
President & CEO • Canvas Credit Union
Thayne Shaffer
President & CEO • America First Credit Union
Steph Sherrodd
President & CEO • Sandia Laboratory Federal Credit Union
Kim Sponem
President & CEO • Summit Credit Union
Keith Sultemeier
President & CEO • Kinecta Federal Credit Union
Associate Director • Don Clark
President & CEO • Sound Credit Union
Associate Director • Ron Neumann
President & CEO • OCCU
Associate Director • Karen Roch
President & CEO • Credit Union West
Associate Director • Sandra Sagehorn-Elliott
President & CEO • Vantage West Credit Union
Executive Team
Tony Boutelle
President & CEO
Bob Child
Chief Operating Officer
Phil DuPree
Chief Revenue Officer
Neetu Bhagat
Chief Financial Officer
Brian Hendricks
Chief Product Officer
Jeff Shood
Chief Technology Officer
Erin Wilson
General Counsel
Laurel Levine
Chief People and Engagement Officer
Christopher Alfarano
VP/CLO • Visions Federal Credit Union
Nathan Anderson
EVP/COO • Mountain America Credit Union
David Brand
SVP/CLO • Sharonview Federal Credit Union
Russ Bernardo
CLO • Oregon Community Credit Union
John Conine
SVP • SchoolsFirst Federal Credit Union
Charles Goss
EVP/CLO • Security Service Federal Credit Union
Steve Leugers
SVP/CCO • OnPoint Community Credit Union
Ed Maier
SVP • Citadel Credit Union
Ric Mathias
SVP Sales Operations • Summit Credit Union
Steve Owens
CLO • Consumers Credit Union
Corey Rupp
SVP/CRO • Affinity Plus Federal Credit Union
Scott Strand
EVP/COO • Boeing Employees Credit Union
Harry Zhu
SVP/CLO • Alliant Federal Credit Union
Michelle Anderson
CLO • Redwood Credit Union
Joe Brancucci
SVP/CLO • Financial Partners Credit Union
Sandi Papenfuhs
SVP Consumer Lending • First Tech Federal Credit Union
Brett Christensen
SVP/CLO • America First Credit Union
Floyd Goode
SVP/CLO • TTCU Federal Credit Union
Adam Heying
CFO • Nusenda Credit Union
Julie Lind
CLO • Washington State Employees Credit Union
Scott Mann
CRO • Indiana Members Credit Union
Richard Musci
EVP/CLO • Golden 1 Credit Union
Jeremy Pinard
CLO • Vantage West Credit Union
Chad Shane
CLO • Canvas Credit Union
Richard Wada
CLO • Patelco Credit Union
Shareholders
- 1st United Services Credit Union
- Advantis Credit Union
- Alliant Credit Union
- Altura Credit Union
- America First Credit Union
- Arkansas Federal Credit Union
B
- BCU
- BECU
- Bellco Credit Union
- Bellwether Community Credit Union
- Bethpage Management Services, LLC
- BluPeak Credit Union
C
- California Coast Credit Union
- California Credit Union League
- Canvas Credit Union
- Centris Federal Credit Union
- Citadel Federal Credit Union
- Clark County Credit Union
- Coast Central Credit Union
- Coastal Federal Credit Union
- CoastHills Credit Union
- Community First Credit Union
- Consolidated Solutions
- Consumers Credit Union
- Cooperative Credit Union Association
- Credit Union of America
- Credit Union of Colorado
- Credit Union West
- Cross Valley Federal Credit Union
- CU Dealer Direct, LLC
- CUC Services, Inc.
- CUNA Mutual Insurance Society, Inc.
- Cyprus Federal Credit Union
D
- DFCU Financial
- Digital Federal Credit Union
E
- Eagle Community Credit Union
- Elevations Credit Union
- Erie Federal Credit Union
F
- Financial Partners Credit Union
- First Entertainment Credit Union
- First Financial Federal Credit Union
- First Tech Federal Credit Union
- Frontwave Credit Union
G
- Golden 1 Credit Union
- Goldenwest Federal Credit Union
- GoWest Credit Union Association
- Great Basin Federal Credit Union
- Greater Nevada Credit Union
- GTE Financial
H
- Harborstone Credit Union
- Hawaiian Financial Federal Credit Union
- Heritage Community Credit Union
- Heritage Family Federal Credit Union
- Hudson River Community Credit Union
- Hudson Valley Federal Credit Union
K
- Kinecta Federal Credit Union
L
- LBS Financial Credit Union
- Logix Federal Credit Union
M
- Mazuma Credit Union
- Mountain America Credit Union
N
- NASA Federal Credit Union
- Northeast Credit Union
- Northern Star Credit Union
- Nusenda Federal Credit Union
- Nutmeg State Financial Credit Union
O
- One Nevada Credit Union
- OnPoint Community Credit Union
- Orange County's Credit Union
- Oregon Community Credit Union
P
- Patelco Credit Union
- PenFed Credit Union
- Police and Fire Federal Credit Union
- Power Financial Credit Union
- Premier America Credit Union
Q
- Qualstar Credit Union
R
- Redwood Credit Union
- Rivermark Community Credit Union
S
- Sacramento Credit Union
- SAFE Credit Union
- San Francisco Federal Credit Union
- San Mateo Credit Union
- Sandia Laboratory Federal Credit Union
- SchoolsFirst Federal Credit Union
- Security Service Federal Credit Union
- SF Fire Credit Union
- Sierra Central Credit Union
- Silver State Schools Credit Union
- Sound Credit Union
- Southland Credit Union
- Star One Credit Union
- Strata Credit Union
- Summit Credit Union
- Sun East Federal Credit Union
T
- Together Credit Union
- Travis Credit Union
- Tropical Financial Credit Union
- Truliant Federal Credit Union
- Tucoemas Federal Credit Union
- TwinStar Credit Union
U
- UFirst Credit Union
- UMassFive College Federal Credit Union
- UNIFY Financial Credit Union
- United Local Credit Union
- Unitus Community Credit Union
- University of Michigan Credit Union
- University of Wisconsin Credit Union
V
- Valley First Credit Union
- Vantage West Credit Union
- Verity Credit Union
- Visions Federal Credit Union
W
- Water & Power Community Credit Union
- We Florida Financial Credit Union
- Wescom Credit Union
- WeStreet Credit Union
- WestStar Credit Union
- WSECU
Y
- Yolo Federal Credit Union