Lending Articles

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…

Music to My Ears: Credit Union Loan Growth

Music to My Ears: Credit Union Loan Growth

Published in Lending

I love music. An all time favorite is Dave Matthews Band, but I also sing Meghan Trainor, Rachel Platten, Daya, Lil Mama and Maren Morris as loud as possible in the car with my six-year-old daughter MacKenzie. Because small town roots don’t ever quite let go, you’ll also find Big & Rich, Brett Eldredge, Keith…

Drive ’17 Conference Delivers the Speakers and Strategies to Help CUs Win

Drive ’17 Conference Delivers the Speakers and Strategies to Help CUs Win

The lending marketplace continues to see competition ramp up. And now, more than ever, to remain not only competitive, but to gain market share, credit unions that embrace cutting-edge technology and strategies to capture more loans, improve loan portfolio performance, better engage members, and improve member loyalty, have a distinct advantage. Leading experts and innovators…

Fifty First Loans

Fifty First Loans

Well, February is considered the month of love, and on February 14th you most likely took the opportunity to tell that someone special in your life what you should have told them, repeatedly, over the last 365 days.  There used to be an old marriage joke that maybe worked in the mid-twentieth century, but probably doesn’t…

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 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…

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…