In Winning the Auto Lending Race, What’s Next?

In Winning the Auto Lending Race, What’s Next?

You may have heard the expression, “to the victor go the spoils.” Interestingly, this phrase did not originate in some centuries-old prose or novel. As eloquent as it seems, it was actually believed to have been spoken by Senator William L Marcy in 1831, as he described the benefits that come upon winning the presidential…





Is it Time to Upgrade Your Loan Origination System?

Is it Time to Upgrade Your Loan Origination System?

New CU Direct Case Study Reveals How the Right LOS Can Be a Significant Driver for Greater Loan Activity. La Capitol Federal Credit Union operated on a Loan Origination System (LOS) that was time-consuming, expensive, and inefficient in managing day-to-day tasks, such as emailing documents to members or the flexibility to change rules without an added fee….





Lending Data & the Credit Union Mandate

Lending Data & the Credit Union Mandate

The very first provision of the Federal Credit Union Act declares that, in addition to promoting thrift, credit unions exist to create a source of credit for members to be used for provident or productive purposes. The lending department is key to credit unions fulfilling this mandate. Your credit union’s loan products help members build…





A Word on Meal Prep and Data Warehousing

A Word on Meal Prep and Data Warehousing

If you are a fan of social media networking, as I am, there is no doubt that you have at least a handful of individuals in your network who like to share pictures of their healthy “meal prep” every week. Meal prepping is the process of preparing one’s meals for the coming week and organizing…





New White Paper Explores The Dealer Value Proposition, Reveals Opportunities to Increase Relevance in Credit Union Indirect Auto Lending

New White Paper Explores The Dealer Value Proposition, Reveals Opportunities to Increase Relevance in Credit Union Indirect Auto Lending

Published in Auto Lending

The next few years will bring notable changes to the auto finance industry. First, shrinking new car sales will make the auto retail market even more competitive, resulting in front-end grosses decreasing further. Dealers will intially react by implementing cost controls and reducing expenses.  Then, they’ll reexamine other parts of their business to find new…





The Prospects of Change

The Prospects of Change

This is graduation season. Over the past two weekends, I’m proud to have had the opportunity to celebrate college graduations for my youngest two daughters.  It has certainly been hectic, as these graduations were at two different schools — in two different states, but it is truly a blessing to know that I have completed…





High Dealer Satisfaction Means Good Business for Automotive Lenders

High Dealer Satisfaction Means Good Business for Automotive Lenders

As automobile dealers increasingly expect faster and more efficient vehicle financing, they have begun to pivot away from placing the highest value on transaction speed and focus instead on their relationship with their lenders. This change in expectations is causing lenders to ask how they can increase their business. To answer this, credit unions and…





Changes are Coming to Automotive Retail…Credits Unions Must Prepare

Changes are Coming to Automotive Retail…Credits Unions Must Prepare

The past few years have been quite remarkable for both dealers and lenders. But the past is not prologue…new car sales have already plateaued, and most forecasters now see 2017 flat with last year – at best – for new car sales. It’s more likely that we will see declines in new car sales, exactly…





The Time Is Now to Prioritize Technology for the Future

The Time Is Now to Prioritize Technology for the Future

With the economy improving, the unemployment rate being the lowest it has been in nine years, and consumer confidence building momentum, credit unions continue to experience steady member and loan growth, low delinquencies and charge offs. These are all very positive signs, but can foster a false sense of security if not careful.  History has…





Full-Funnel Marketing: 5 Simple Steps Towards Growth

Full-Funnel Marketing: 5 Simple Steps Towards Growth

Marketing and sales have the same end goal: to drive revenue for your financial institution. However, historically there is often friction between these two departments. Marketing complains that sales isn’t closing the leads they generate. And on the other side, sales laments that marketing isn’t getting them the right leads. But it does not have…