Lending Articles

5 Ways to Rev-Up Your Lending Revenue

5 Ways to Rev-Up Your Lending Revenue

Lending is a credit union’s primary profit driver. Yes, investments also produce non-interest income, which is a big revenue source, but lending is where the rubber meets the road when it comes to people helping people. As a lending executive, you know this is a big responsibility—stewarding your cooperative’s assets to produce strong revenue, while…

Credit Union Embraces Digital Lending System, Grows Indirect Lending to Become Wisconsin’s #2 Auto Lender

Credit Union Embraces Digital Lending System, Grows Indirect Lending to Become Wisconsin’s #2 Auto Lender

University of Wisconsin Credit Union (UW Credit Union) has come a long way with its indirect auto lending since first implementing CU Direct’s CUDL Platform – in more ways than one. Mike Long, Executive Vice President and Chief Credit Officer for the $2.7 billion UW Credit Union, based in Madison, Wis., recalls rudimentary technology and…

Lending 360 Upgrades Southwest Airlines FCU’s Lending Experience to First Class

Lending 360 Upgrades Southwest Airlines FCU’s Lending Experience to First Class

New technology systems always make at least some employees feel apprehensive. That’s understandable; most people don’t like change. The $555 million Southwest Airlines FCU kept this in mind as it prepared to launch the Lending 360 loan origination system (LOS) two years ago. To minimize that fear, the Dallas-based credit union had its lending staff…

Member Business Lending is Much More Than That

Member Business Lending is Much More Than That

Across the United States, small business is anything but “small” business. According to the U.S. Small Business Administration (SBA), small businesses (defined as businesses with fewer than 500 employees) account for over 99% of all American businesses and close to sixty million employees. As existing small businesses continue searching for ways to grow and prosper,…

LOS Automation Allows Kings Federal Credit Union to Lend Large

LOS Automation Allows Kings Federal Credit Union to Lend Large

When credit union executives think of liquidity management tools, loan origination software isn’t typically the first thing that comes to mind. But that’s exactly how Kings Federal, a SEG-based credit union in Hanford, Calif., is using CU Direct’s Lending 360 loan origination system (LOS). Kings Federal is a robust auto lender, with auto loans representing…

Understanding Trigger Marketing

Understanding Trigger Marketing

Two hundred years ago, Napoleon noted that “war is 90 percent information.” In today’s highly competitive financial services industry, financial institutions must have good data…and know how to use it. Credit unions are realizing the importance of automating their marketing efforts, leveraging their data, so that products and services intersect as efficiently as possible with…

How Excellence in Dealer Engagement Led BECU To a Record-Breaking Year

How Excellence in Dealer Engagement Led BECU To a Record-Breaking Year

As credit unions continue to increase their presence in the auto lending marketplace, dealer engagement only becomes more essential. A good working relationship with dealers, coupled with lending technology can increase opportunity for funding auto loans, which improves the credit union’s market presence and deepens their loan portfolio. CU Direct spoke to Boeing Employees Credit…

For UWCU, Excellence in Indirect Lending Resulted in Significant Growth

For UWCU, Excellence in Indirect Lending Resulted in Significant Growth

Indirect lending provides credit unions with the unique ability to offer a convenient method of financing to members, while also having the opportunity to grow their member base. As one of the fastest growing loan segments for credit unions, this is an important way for them to diversify and deepen their loan portfolio. Credit unions…

One Credit Union’s Approach to Excellence in Auto Lending

One Credit Union’s Approach to Excellence in Auto Lending

Auto lending is the backbone of credit unions’ loan portfolios. Credit unions continue to not only compete in the auto lending arena, but to outperform much of the marketplace, improving their market presence, and capturing more loans. With a strong, and growing position in the marketplace, credit unions need to lead with service as a…