BRIELLE, N.J.– Heritage Auto Leasing has launched what it is calling a next-generation vehicle leasing platform built exclusively for credit unions.
Founded by brothers Chuck Meagher and Danny Meagher, Heritage Auto Leasing “combines deep automotive leasing expertise with advanced technology to deliver a lower-cost, member-focused leasing solution backed by a 100% residual value guarantee,” the company said.
Both brothers previously served as key executives at Fusion Auto Finance, where they said they oversaw all aspects of residual value setting, risk management, sales, and marketing for one of the nation’s most successful credit-union-focused indirect leasing programs.
“Credit unions have long been underserved in the leasing space. Heritage is designed to change that,” the company said in a statement. “We bring institutional-grade lease management, technology, and risk controls to credit unions of all sizes, without the excessive fees or complexity that typically come with traditional providers.”
‘Streamlined Funding’
Heritage Auto Leasing said it was created to help credit unions compete more effectively in a rapidly evolving auto finance market, and that by leveraging automation, data analytics, and proprietary technology through LoanSwift, it dealer funding and back-office processes, reducing operational friction while improving accuracy, efficiency, and member experience.
Serving the Other ‘Underserved’
“Credit unions have long been underserved in the leasing space,” Chuck Meagher, co-founder and CEO, said in a statement. “Heritage is designed to change that. We bring institutional-grade lease management, technology, and risk controls to credit unions of all sizes, without the excessive fees or complexity that typically come with traditional providers.”
Through its indirect lease program, Heritage said it manages all aspects of residual value setting, risk management, dealer relationships, the lease maturity process, and vehicle remarketing. The company added that its platform enables credit unions to offer competitive, tech-driven leasing products to their members without assuming operational burden or residual risk.
“Every Heritage lease carries a 100% residual value guarantee, ensuring credit unions have complete confidence in the performance and protection of their leasing portfolios,” it stated.
‘Transparency & Protection’
“Heritage was built around what credit unions value most – efficiency, transparency, and protection,” Danny Meagher, co-Founder and COO, said in a statement. “Through our proprietary technology, we’ve created a program that simplifies funding for dealers, reduces friction for credit unions, and delivers a better experience for members.”
Heritage Auto Leasing said it initially plans to partner with select credit unions in key markets across the Northeast, with national expansion planned as the program scales.
