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“Our partnership with PSECU reflects the growing demand among credit unions for leasing solutions that help members manage the rising costs of vehicle ownership. With the average cost of a new vehicle at $50,326,[1] and the average monthly loan payment at $760,[2] consumers are increasingly seeking more affordable options, and leasing provides just that,” said Ken Sopp, President of CULA.
According to the latest Cox Automotive Car Buyer Journey Study (January 2026), affordability pressures are reshaping buyer behavior as record-high vehicle prices drive increased interest in leasing. The share of new-vehicle shoppers considering leasing versus buying has reached an all-time high, with consumers saving an average of more than $100 per month on lease payments compared with traditional loan payments.[3]
“This partnership with CULA allows us to expand into a new segment of the auto market while continuing to serve our members’ evolving financial needs, especially in today’s challenging economic environment,” said Homer Renteria, Chief Revenue & Lending Officer of PSECU. “And because CULA’s analytics-driven program handles the complexities of leasing – from insurance to compliance – we are able to efficiently and easily diversify our portfolio and increase our members’ access to more affordable auto financing options – all while meeting targeted yields.”
A member-owned, not-for-profit, financial cooperative serving individuals and families across Pennsylvania through a digital-first banking model, PSECU has more than $9 billion in assets and over 545,000 members. PSECU is CULA’s largest credit union partner in Pennsylvania by both assets and membership, underscoring CULA’s continued growth as credit unions seek new ways to address vehicle affordability challenges.
“PSECU’s member-first culture, and forward-looking approach to auto finance make them an ideal partner as we continue expanding vehicle leasing across key markets. Their commitment to their members is demonstrable in the scale of their business, and we are proud to partner with them,” concluded Sopp.
CULA currently supports vehicle leasing in 34 states and works with more than 40 credit unions, including nine of the top 10 U.S. credit unions offering vehicle leasing.
About Credit Union Leasing of America
Credit Union Leasing of America (CULA) has been the leader in indirect vehicle leasing for credit unions for over 35 years. Founded in 1988, CULA provides best-in-class program assistance, analytics reporting, compliance support, dealer management tools and member services. The CULA indirect vehicle leasing program empowers credit union innovators to diversify their existing loan portfolios, improve yield and expand member services. Visit cula.com to learn more.
[1] https://www.kbb.com/car-news/average-new-car-price-topped-50000-in-december/
[2] https://www.msn.com/en-us/autos/buying/car-payments-now-average-more-than-750-a-month-enter-the-100-month-car-loan/ar-AA1STrXi)
[3] https://www.coxautoinc.com/insights-hub/cox-automotive-car-buyer-journey-study-finds-efficiency-digital-tools-and-ai-drive-record-satisfaction/
Media Contact
Angela Jacobson, CULA, 1 714-454-8776, [email protected]
Melanie Webber, 1 949-307-1723, [email protected]
SOURCE CULA
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