First Heritage Federal Credit Union Partners with CULA for Vehicle Leasing

The leader in indirect vehicle leasing for credit unions partners with New York-based credit union to expand its reach in the northeastern U.S.


San Diego, CA & Corning, NY – November 28, 2023 – Credit Union Leasing of America (CULA) today announced that it has been selected by New York-based First Heritage Federal Credit Union to bring the affordability and flexibility of vehicle leasing to its more than 45,000 members. The partnership further extends CULA’s footprint in the northeastern United States.


First Heritage Federal Credit Union has served members in communities throughout New York and Pennsylvania for nearly 70 years, has more than $700 million in assets, and was recently voted the Best Credit Union in the Twin Tiers for the third straight year. CULA, which enables credit unions to easily add vehicle leasing to their portfolios, and dealers to offer their customers more finance options, has been the leader in indirect vehicle leasing for credit unions for over 30 years.


“We are pleased to partner with CULA to offer vehicle leasing as an effective and affordable vehicle financing option to our members,” said Tom Pisano, First Heritage President and CEO. “This aligns with our commitment to help our members achieve a better life for themselves and their communities: a ‘people helping people’ mindset that instills in our operations a higher level of service and value, and one of the reasons we selected CULA’s program.”


Pisano also noted that, with CULA, their dealer partners now have more options, greater lending solutions to leverage, and more flexibility, a key advantage, especially as vehicle prices continue to stay elevated.


According to Edmunds, as of Q3 2023 used vehicle prices averaged $28,935 – a 44% increase over Q3 2018. A recent survey of credit unions conducted by CULA revealed that over-extension on used vehicle loans is the number one concern for credit unions. The survey also found that the vast majority of credit union respondents (92%) agree that they would like a better alternative, such as short-term financing with affordable payments and higher yield. Indirect vehicle leasing offers a low-risk, good-yield, short-term finance option for both lenders and consumers.


“First Heritage Federal Credit Union has been meeting the financial needs of their community members for several decades. We’re pleased to further help them help their members, especially in providing a solution to persistent vehicle affordability issues, while also helping improve yield,” said Mark Chandler, Vice President of Business Development for CULA.


CULA’s indirect vehicle leasing program, which has experienced record growth over the last two years, handles the intricacies of leasing for its clients – including analytics, insurance, operations, compliance, and more. The company pioneered indirect vehicle leasing for credit unions, has the largest number of credit union partners, the longest combined tenure with credit unions and partners with the industry’s most innovative credit unions, including nine of the top 10 credit unions offering leasing in the U.S.



About First Heritage Federal Credit Union

First Heritage Federal Credit Union is a community-chartered credit union that serves more than 45,000 members in an eleven-county region including Chemung, Steuben, Livingston, Schuyler, Tioga, Allegany and Yates Counties in New York and Tioga, Bradford, Lycoming and Potter County in Pennsylvania.       


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 30 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 to learn more.


Media contacts:

Angela Jacobson, mWEBB Communications, angela(at)mwebbcom(dot)com, (714) 454-8776

Melanie Webber, mWEBB Communications, melanie(at)mwebbcom(dot)com, (949) 307-1723

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