GROWTH CONTINUES FOR LENDING INSIGHTS IN 2011
Ontario, CA, November 17, 2011 - Lending Insights (www.lendinginsights.com), providers of best-in-class analytical tools and business intelligence solutions to the credit union industry, has announced that its client base has grown in 2011 to include 75 credit unions.
Over the last three years Lending Insights has grown its client base by more than 900%, as credit unions realize the increasingly important role risk management best practices, regulatory compliance, and stronger overall lending practices are playing in today’s economic environment. “With today’s highly competitive lending marketplace, coupled with continued uncertainty of today’s economy and the necessity to comply with new industry regulations, our clients recognize the need to look closely at how they manage their lending programs and improve overall credit quality,” stated Mike James, chief operating officer at Lending Insights.
Lending Insights also announced that it has signed new partnership agreements with six credit unions. The six credit unions, Manhattan Beach, California-based Western Federal Credit Union (1.6 billion in assets and 153,964 members); Houston, Texas-based PrimeWay Federal Credit Union ($392 million in assets and 51,846 members); Yuba City, California-based Sierra Central ($597 million in assets and 60,099 members); Roanoke, Virginia’s Freedom First Federal Credit Union ($258 million in assets and 38,169 members); Members Cooperative Credit Union in Cloquet, Minnesota ($314 million in assets and 27,762 members); and Manchester, New Hampshire’s Granite State Credit Union ($283 million in assets and 26,515 members) are incorporating the company’s full suite of risk management and analytical lending tools.
Lending Insights offers a full-spectrum solution that tracks performance and trends against a credit union’s goals, as well as provides vital branch management tools, full drill-down capabilities to assess performance by portfolio segments, static pool analysis of portfolio loss, delinquency, and repayment, and market intelligence tools to benchmark the credit union’s performance against other lenders.
The company also specializes in developing vital risk management solutions for the credit union industry that fully support state and national regulatory requirements.
Lending Insights consulting services help credit unions better understand their lending programs, establish essential policies and procedures to meet regulatory requirements, and help advance their programs and lending performance. The company’s consulting services address more than 35 key areas to help credit unions improve lending performance. Consulting services focus on a number of critical areas, including:
• Collection Strategies
• Lending Guidelines and Procedures
• Loan Pricing
• Repossession/Remarketing Process
• Loan Origination Process
• Credit Quality Review
• Management and Organization
“This is an exciting and important milestone for us and underscores the value of the services and solutions we’re providing our credit union partners. Our goal is to help credit unions gain a more clear understanding as to where they are with their lending practices and programs, and how they can advance their overall portfolio performance and profitability,” concluded James.
About Lending Insights
Based in Ontario, California, Lending Insights develops powerful analytic, risk management, and business intelligence tools that give credit unions a competitive advantage in the lending marketplace. For more information on Lending Insights, visit www.lendinginsights.com. Lending Insights is a flagship brand of CU Direct Corporation.