Lending Articles

Consumers Credit Union Finds Success Blazing An “Indirect” Trail With CU Direct In Western Michigan

Consumers Credit Union Finds Success Blazing An “Indirect” Trail With CU Direct In Western Michigan

Consumers Credit Union wanted more – much more – out of its indirect auto lending program. The credit union was frustrated with the inefficient way dealer partners sent the credit union applications through many costly systems, which ended up in their separate loan origination system. This, combined with a desire to work with a credit…

The Credit Union Difference

The Credit Union Difference

At the Credit Union National Association (CUNA) we tell the credit union story. It’s our job to talk to lawmakers and regulators in Washington, members of the media, and American consumers about the credit union difference. What do I mean by difference? Many people who aren’t credit union members are probably familiar with the words…

How To Optimize Loan Performance

How To Optimize Loan Performance

Rapid growth in credit union indirect lending programs has triggered more examiner scrutiny and additional emphasis on the performance of these programs. Credit unions can be more effective in mitigating risk and optimizing performance within their indirect portfolios by taking a number of steps, including implementing a series of key metrics: dealer performance scorecards, multi-dimensional…

Technology Investments that Can Elevate Product and Service Delivery

Technology Investments that Can Elevate Product and Service Delivery

Although it can be tempting to chase the next new shiny object—and there are always exciting new innovations to consider in the financial industry—credit unions should focus on technology investments that optimize the delivery of trusted products and services to members. With an ever-increasingly competitive lending marketplace vying for consumer loyalty, credit unions should focus…

Adopting New Loan Origination Technology Produces Record Loan Growth For Pacific Service

Adopting New Loan Origination Technology Produces Record Loan Growth For Pacific Service

To achieve 18% annualized loan growth, a credit union needs a robust and efficient loan origination system. For Pacific Service Credit Union, Lending 360 was the right loan origination system to get the job done. The $1.2 billion credit union, located in Northern California, decided to shop around for a new LOS after its previous…

DRIVE 19: Speakers, Strategies and Technology to Gain a Competitive Edge

DRIVE 19: Speakers, Strategies and Technology to Gain a Competitive Edge

To gain a true advantage and remain competitive in today’s ever-changing and ultra-competitive lending marketplace, cutting-edge technology is key. Implementing new strategies and solutions can help credit unions capture more loans, better manage risk, and ultimately grow portfolios. This May 14-16, leading experts from the worlds of finance, automotive, and marketing will converge at CU…

Home Financing: A Great Opportunity for Credit Unions

Home Financing: A Great Opportunity for Credit Unions

Credit unions are known for world-class customer service, but most home lending business is going to banks or non-traditional lenders rather than to credit unions, even when it comes to their own members. What are credit unions missing? What are the risks and benefits of diving deeper into home lending? We examine these issues—and more—in…

5 Ways to Rev-Up Your Lending Revenue

5 Ways to Rev-Up Your Lending Revenue

Lending is a credit union’s primary profit driver. Yes, investments also produce non-interest income, which is a big revenue source, but lending is where the rubber meets the road when it comes to people helping people. As a lending executive, you know this is a big responsibility—stewarding your cooperative’s assets to produce strong revenue, while…

Credit Union Embraces Digital Lending System, Grows Indirect Lending to Become Wisconsin’s #2 Auto Lender

Credit Union Embraces Digital Lending System, Grows Indirect Lending to Become Wisconsin’s #2 Auto Lender

University of Wisconsin Credit Union (UW Credit Union) has come a long way with its indirect auto lending since first implementing CU Direct’s CUDL Platform – in more ways than one. Mike Long, Executive Vice President and Chief Credit Officer for the $2.7 billion UW Credit Union, based in Madison, Wis., recalls rudimentary technology and…

Lending 360 Upgrades Southwest Airlines FCU’s Lending Experience to First Class

Lending 360 Upgrades Southwest Airlines FCU’s Lending Experience to First Class

New technology systems always make at least some employees feel apprehensive. That’s understandable; most people don’t like change. The $555 million Southwest Airlines FCU kept this in mind as it prepared to launch the Lending 360 loan origination system (LOS) two years ago. To minimize that fear, the Dallas-based credit union had its lending staff…