Auto Lending Articles

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,…

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…

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…

Matters of Speed and Automation

Matters of Speed and Automation

CU Direct’s maxim “Getting to Yes Faster,” referencing quick yes decisions on loan applications, has a nice ring to it. But I’d argue this isn’t just about getting to a “yes” decision quickly.  It’s also about making fast loan decisions in general, regardless of whether the answer is yes or no.  Fast decisions overall are…

Strength in Numbers:  Credit Unions Continue to Make Their Mark in the Auto Lending Arena

Strength in Numbers: Credit Unions Continue to Make Their Mark in the Auto Lending Arena

Published in Auto Lending

Credit unions continue to show their strength in the auto lending marketplace in 2016. With new car sales up 3%, 2016 is looking much like 2015 — a record year for the auto industry (with 17.5 million new vehicles sold) — with about 17.7 million projected new auto sales units by years end. Credit unions…

How Can CUs Discover New Strategies to Gain a Competitive Edge?  Join Us at Drive ’16.

How Can CUs Discover New Strategies to Gain a Competitive Edge? Join Us at Drive ’16.

What are the real keys to credit unions advancing their marketplace success against banks and other financial institutions in today’s lending environment? The lending marketplace continues to see competition ramp up, and those financial institutions that incorporate cutting-edge strategies to better engage members, improve member loyalty, capture more loans, and improve loan portfolio performance have…

Of Ragnars and Other Things

Of Ragnars and Other Things

Each New Year brings the opportunity for us to start fresh and set new goals. People often mark the occasion with resolutions of change and commitment to personal improvement. Yet, by February many have forgotten the optimism that the New Year brought, once the realities of life have reminded us of our limitations. The same…

Changing Lanes: Millennials, Cars and Consumer Loans

Changing Lanes: Millennials, Cars and Consumer Loans

There is no doubt that the retail world is undergoing a period of rapid change as brick-and-mortar staples face mounting pressure from dynamic internet retailers for market share.  This is even more evident in the auto industry as we move into the fast lane of online retailing, and this change is heavily influenced by the…

Credit Unions Continue to Make Gains in the Auto Lending Marketplace

Credit Unions Continue to Make Gains in the Auto Lending Marketplace

Published in Auto Lending, Lending

Credit union auto lending marketplace performance continues to shine through the mid-year point of 2015. With new car sales up 5%, 2015 is looking like a record year for the auto industry, with about 17.4 million projected new auto sales units by year’s end. Credit unions have been able to capitalize on the increase in…

Why is Credit Union Auto Loan Growth Up?

Why is Credit Union Auto Loan Growth Up?

I was recently asked during an interview what I thought credit unions were doing differently to account for credit union auto loan growth being on the rise. The question kind of caught me off guard and I didn’t have a ready answer. I do know that credit unions are becoming more data savvy — and I know…