Lending Articles

Keys to Upping the Ante on the Competition Revealed at “Drive”

Keys to Upping the Ante on the Competition Revealed at “Drive”

To gain an upper-hand in today’s ultra-competitive lending marketplace, credit unions need to embrace (and implement) new strategies and solutions that effectively engage members and improve loyalty, drive member loans, better manage risk, and ultimately grow portfolios. At CU Direct’s recent Drive ’15 Conference, credit unions had an opportunity to discover how to “up the…

Start Showing Me You’re Different!

Start Showing Me You’re Different!

The one thing that differentiates us as credit unions, we have something no one else in our industry has: a membership base. Everyone loves to be part of a club. But what are we doing to differentiate the experience we provide to our loyal membership base? Stop telling me you’re different. Take a few minutes…

Strategies For Success in Today’s Competitive Lending Marketplace — the Focus of Drive ’15 Conference

Strategies For Success in Today’s Competitive Lending Marketplace — the Focus of Drive ’15 Conference

How can credit unions better compete against banks and other financial institutions in an increasingly competitive lending landscape? Engaging members more effectively — and more often, improving member loyalty, and capturing more member loans, are all vital aspects of gaining an edge in today’s marketplace. Problem is, where do you go to get the expert…

Finding the Bright Spots & Creating More of Them

Finding the Bright Spots & Creating More of Them

In their book, Switch: How to Change Things When Change is Hard, Chip and Dan Heath introduce readers to the story of Jerry Sternin.  Sternin, who works for Save the Children, was sent to Vietnam in 1990 to open a new office and given six months to make a difference in the nutritional health of…

Achieving Sustainable Loan Growth — Part 2: Addressing Inefficiencies

Achieving Sustainable Loan Growth — Part 2: Addressing Inefficiencies

Published in Lending

(This is part 2 in a series. Read Part 1.) I have the opportunity to meet with many credit unions in my travels.  Here’s my not-so-stunning finding: some credit unions are pretty inefficient.  But why am I talking about inefficiency in an article on sustainable loan growth?  Here’s how I see it.  Sustainable loan growth…

Retail & Medical Financing an Untapped Opportunity for Credit Unions

Retail & Medical Financing an Untapped Opportunity for Credit Unions

Published in Lending, Retail Lending

With unemployment beginning to ease and retail spending up, 2015 promises a growing economy and continued lending growth that could benefit credit unions. Though some forecasts indicate motor vehicle sales and loans may slow slightly in 2015 compared to 2014, Kiplinger believes they will maintain a steady rate, about the “average for annual auto sales…

Disparate Impact:  Why It’s More Than Just a Regulatory Issue

Disparate Impact: Why It’s More Than Just a Regulatory Issue

There has been a lot of discussion over the last couple of years regarding Disparate Impact and Fair Lending Testing, specifically in regard to the NCUA requiring credit unions to prove they are not treating members differently based upon being a member of one of the protected classes. Intentional or inadvertent disparate impact is basically…

Update: 20 for 20 Giveback Campaign Hits Milestone — CU Direct Doubles its donation to CMN Hospitals

Update: 20 for 20 Giveback Campaign Hits Milestone — CU Direct Doubles its donation to CMN Hospitals

Published in Lending

Due to the credit union community’s overwhelming response to, and participation in, CU Direct’s 20 for 20 Giveback Campaign during the month of December,  we are donating an additional $20,000 to CMN Hospitals.  The additional donation will be given to the contest’s 4 runner-up hospitals (2nd, 3rd, 4th and 5th place hospitals).  Each of the runner-up hospitals…

Santa & Credit Unions

Santa & Credit Unions

By now I am sure that you are knee deep in the throes of the Holiday Season.  As you know, Santa Claus has been busy making a list of naughty and nice children all year long.  His team of elves has been busy making toys and by now is loading his sleigh for his whirlwind…

CU Direct Celebrates 20 Years by Giving Back

CU Direct Celebrates 20 Years by Giving Back

Published in Community, Lending

December 20 for 20 Campaign to Benefit a Children’s Miracle Network Hospital. To celebrate our 20 year anniversary, CU Direct has launched its 20 for 20 Campaign, benefitting one of the nation’s Children’s Miracle Network (CMN) hospitals. We’re inviting credit unions and their members to help us determine which of our nation’s CMN hospitals will…