Strengthening Portfolio Performance is Critical in Today’s Auto Lending Marketplace

Strengthening Portfolio Performance is Critical in Today’s Auto Lending Marketplace

Since the beginning of time, lenders have sought a way to accurately measure and predict risk in their loan portfolios. Understanding risk allows lenders to make sound credit decisions and properly price loans.  Ideally, lenders need to make, at the very least, a high enough return on loans to cover the principle and any costs,…

Predictive Modeling – Important Questions that CUs Need to Ask

Predictive Modeling – Important Questions that CUs Need to Ask

As you know, the new CECL guidance calls for estimating life of loan losses for the ALLL reserve.  “Life of Loan” — just three simple words — but its implementation is anything but simple. Many factors within your portfolio can, and often do, affect loss estimates.  For example, the age of the loan, borrower’s credit…

The Future of Autonomous Lending is Now

The Future of Autonomous Lending is Now

I recently had the opportunity to research some of the emerging transportation technologies that will affect our lives over the next ten to fifteen years. Alternative fuels, autonomous vehicles and the ride sharing economy have been discussed in media for several years, and today we are beginning to experience how some of these technologies are…

The New Digital Lending Playbook for Credit Unions

The New Digital Lending Playbook for Credit Unions

Published in Lending

With the rise of online lenders, credit unions will face an even more competitive environment as loans are taken off paper and into the digital space. The emergence of digital lenders has introduced new competitive factors that place greater pressure on credit unions to keep up with both market trends and consumer expectations. That being…

Millennials and Auto Buying: What Really Matters to CUs

Millennials and Auto Buying: What Really Matters to CUs

Published in Auto Lending

There has been a lot of discussion of late on the subject of millennials, especially when it comes to attitudes regarding transportation choices, and specifically vehicle ownership. At the recent CUNA Lending Council Conference, there was an entire session devoted to millennials, with a panel of appropriately aged individuals providing anecdotal testimony to the findings…

It’s a Great Time of the Year to be Giving:  CUs For Kids Kick-Off New Charitable Campaign to Support CMN Hospitals

It’s a Great Time of the Year to be Giving: CUs For Kids Kick-Off New Charitable Campaign to Support CMN Hospitals

Published in Community

CU Direct and its management have always viewed giving back as an important part of its corporate culture. In 2014,  when CU Direct created the 20 for 20 Give-Back Campaign to celebrate the company’s 20th anniversary, we initiated an online event that allowed both the CU community and local communities around the country to vote…

Using Technology to Improve the UX

Using Technology to Improve the UX

Recently, our product team was involved in a discussion about “user experience.” This topic has become very important in the world of technology, as we continue to create very sophisticated tools to advance how companies, including financial institutions, do business.  However, if the user can’t figure out how to use the technology they have, it…

Member Ease of Use, A Competitive Advantage For CUs

Member Ease of Use, A Competitive Advantage For CUs

Published in Lending

“TO REALLY WIN MEMBER LOYALTY, FORGET THE BELLS AND WHISTLES AND SIMPLY SOLVE THEIR PROBLEMS” (Filene Institute) In an increasingly digital world, where speed and efficiency are expected by consumers, credit unions face ever-evolving competition in winning, and keeping, member loyalty. Filene has introduced a new report, sponsored by CU Direct, that closely examines how…

Talking CECL — Success is a Process, Not a Destination

Talking CECL — Success is a Process, Not a Destination

According to the American Bankers Association, CECL (Current Expected Credit Loss) represents “the biggest change to bank accounting, ever.” The reality of these sweeping changes in the way we have done business for the last three to four decades, for some, is daunting.  Don’t make the mistake of believing that the five years given before implementation…

The Military Lending Act – What You Need to Know

The Military Lending Act – What You Need to Know

Published in Lending

If the MLA isn’t top of mind with your institution, it needs to be front and center on your compliance checklist. As many of you are aware, Congress passed the Military Lending Act (MLA) in 2006 providing specific protections for all active duty service members and their dependents in consumer credit transactions. The Department of…