Lending Advisory Services Articles

Eliminating Blind Assumptions – New Benchmark Report Reveals Data to Improve Indirect Lending

Eliminating Blind Assumptions – New Benchmark Report Reveals Data to Improve Indirect Lending

With the 2016 Government Affairs Conference (GAC) in Washington D.C. as the backdrop, CU Direct unveiled the industry’s first benchmark report focused on indirect lending. The highly anticipated monthly report provides CU Direct’s partner credit unions with exclusive insight and data to compare/contrast with other marketplace lenders, to help improve overall indirect lending performance. The…

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…

Looking Forward to the Next Year with Resolve

Looking Forward to the Next Year with Resolve

If you are at all like me, then you imagine a day where you can get the things done that YOU have set as a priority, rather than spending your time meeting other’s expectations.  Over the last twelve months, we have seen a number of new issues on the horizon that promise to fill out…

Embracing Technology to Assess Risk and Improve Your Competitive Edge

Embracing Technology to Assess Risk and Improve Your Competitive Edge

Have you ever bought a new car and, like me, just hopped in and started driving without reading the owner’s manual to discover what features and options the vehicle had?  Months, and maybe years, go by without knowing you have some really cool features.  Or maybe, you have a feature you know about, but you…

Moving Beyond Out-of-the-Box Models

Moving Beyond Out-of-the-Box Models

I’ve been working in and with credit unions for over fifteen years and in financial services for over twenty five. Based upon my experience, I believe that there is one critical area where credit unions have lost ground when it comes to capturing the consumer market for loans and other financial products; that area is,…

Are You Treating Every Member Fairly?

Are You Treating Every Member Fairly?

There has been a lot of discussion over the last couple of years among credit unions related to fair lending and disparate impact.  Beyond the debate over who has regulatory power over who, and whether the testing procedures are even accurate, many credit union lenders believe that they would be safe in the event their…

Leveraging Technology to Better Serve Members and Increase Loans

Leveraging Technology to Better Serve Members and Increase Loans

Credit unions can increase loan growth 27% by doing one simple thing; increase system decisions on loan applications.  In a recent study of credit union indirect application data from 2014, CU Direct was able to determine that auto-approved loan applications are 11% more likely to fund than applications approved manually.  When one considers that about…

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…