Blog Posts From: 2019

Economic and Lending Trends Webcast Recap: GDP Growth is Slowing, But No Recession In Sight

Economic and Lending Trends Webcast Recap: GDP Growth is Slowing, But No Recession In Sight

The U.S. economy posted huge growth numbers in 2018. Conditions have cooled a bit in 2019, but despite numerous predictions of a pending recession in recent weeks, there are signs pointing to continued economic growth, for at least the next 12 months. That was the prediction from Dr. Elliot Eisenberg, nationally acclaimed economist, who spoke…

CUDL Complete Helps Patelco Navigate Processing Hurdles After Robust Indirect Volume Growth

CUDL Complete Helps Patelco Navigate Processing Hurdles After Robust Indirect Volume Growth

The $7 billion Patelco Credit Union set lofty growth goals for its indirect auto lending program in 2017. With the help of an aggressive rate strategy, the credit union’s indirect team delivered. As of Dec. 31, 2017, the Pleasanton, Calif.-based credit union had grown its total indirect loans outstanding by 65%, to $730 million from…

MODDern Times In Auto Lending, Deep in the Heart of Texas

MODDern Times In Auto Lending, Deep in the Heart of Texas

Randolph Brooks Federal Credit Union (RBFCU) is way ahead of the game when it comes to supplying the three most important elements in the modern auto buying experience – convenience, convenience, convenience. RBFCU is a $9.2 billion credit union headquartered in Live Oak, Texas, a northern suburb of San Antonio, near the legendary Randolph Air…

New Loan Origination Technology Helps Vantage West Drive Speed and Efficiency Across the Entire Lending Process

New Loan Origination Technology Helps Vantage West Drive Speed and Efficiency Across the Entire Lending Process

The $2 billion Vantage West Credit Union is one of Arizona’s largest financial institutions, serving nearly 157,000 members. Lending has driven its strong and steady growth; according to NCUA financial reports, Vantage West’s key financial measures show it has led its peers in nearly every lending category, even through the Great Recession. In fact, in…

Consumer LOS Upgrade Generates Big Gains for CU in Niche Markets

Consumer LOS Upgrade Generates Big Gains for CU in Niche Markets

Credit unions are coming full circle in the current business climate that favors those who drill deep into niche markets, rather than casting a wide but shallow net. Technology has enabled businesses to locate ideal customers, reach them where they live, and speak their language. That’s good news for credit unions like the $260 million…

LOS Technology Cultivates Healthy Auto and Consumer Loan Programs at MVFCU

LOS Technology Cultivates Healthy Auto and Consumer Loan Programs at MVFCU

The Alaska State Fair in Palmer, Alaska, is well-known for its giant vegetable exhibits, including a world record cabbage that weighed almost 140 lbs. and pumpkins that regularly top 1,000 lbs. Matanuska Valley FCU, also in Palmer, had similar goals five years ago: grow a large auto loan portfolio, according to Consumer Loan Manager Jaccie…

Machine Learning Can Improve CUs’ “People Helping People”

Machine Learning Can Improve CUs’ “People Helping People”

Computer programming has come a long way since the late 1970s and early 80s, when high school students learned BASIC and wrote simple programs on Commodore 64s. Today, six-year-olds learn coding from LEGO kits purchased at Target and young entrepreneurs are earning millions writing apps and selling them to global fintech companies. Until recently, however,…

The Six Disruptors of Customer Experience

The Six Disruptors of Customer Experience

UP! Your Service is a global education and consulting company. We help leaders and companies all over the world achieve two primary outcomes: First, improve your customer’s experience – to help you attract more customers, keep customers, generate solid business results, and maintain a positive reputation for service. Second, build a strong and sustainable culture…

Growing Your Mortgage Business In A Challenging Market

Growing Your Mortgage Business In A Challenging Market

It’s a great time to be a lender in just about any loan category in the credit union industry. Assets, total loans, resi, auto, credit cards, member business loans are all up. Even better news, delinquencies are at cycle lows, so performance is strong due to a healthy economy. The only blinking red light has…

Auto Lending Fraud Trends in 2019

Auto Lending Fraud Trends in 2019

Have you heard this phrase before – “the more things change, the more they stay the same”? This is certainly the case when it comes to auto lending fraud. Fraudsters may change their stripes and perpetrate new and more clever schemes each year, but in the end the results are the same – lenders and…