Is Technology Sprawl Ruining Your Member Lending Experience? (Part 1 of 2)

Is Technology Sprawl Ruining Your Member Lending Experience? (Part 1 of 2)

How many systems, both digital and manual, do your members and employees have to navigate before booking a loan? The answer may surprise you, and provide some critical insight if your credit union isn’t meeting its loan growth goals. What is Technology Sprawl? Tech sprawl isn’t just a lending problem or even a financial services…

How LOS Efficiency Helped Elevate Trailhead CU to New Heights

How LOS Efficiency Helped Elevate Trailhead CU to New Heights

When Justin Olson joined Trailhead Credit Union in 2013 as vice president of member services, the credit union was facing an uphill climb. With a loan-to-share ratio of just 59 percent and on a steady monthly decline, the $120M credit union was only originating around $1 million per month in 2013. That wasn’t enough to…

Lending Strategies That Generate a Quick Return (Part 2 of 2)

Lending Strategies That Generate a Quick Return (Part 2 of 2)

Your credit union has set its 2018 budget, but it has some limited extra funds to invest in the short-term. Where should it invest right now to get the most bang for the ROI? In part one of our two-part article series, we discussed how optimizing existing systems can be a smart lending strategy that…

Leveraging a Digital Lending System to Help Drive Indirect Auto Loans

Leveraging a Digital Lending System to Help Drive Indirect Auto Loans

CU Direct recently partnered with Visions Federal Credit Union on a case study that took a close look at the credit union’s success in the indirect lending marketplace, and the steps the credit union took to overcome the challenges it had in growing loans through the indirect channel. Visions’ indirect lending program had been a…

Generating Loans By the Generation

Generating Loans By the Generation

Does your credit union have the right loan products — and the right marketing message — to appeal to each generation? Regardless of their generation—baby boomer, Gen X or millennial—your members are borrowing and buying much more than previous generations. To craft relevant messaging, credit unions need to understand the behaviors across each generation. Baby…

Lending Strategies That Generate a Quick Return (Part 1 of 2)

Lending Strategies That Generate a Quick Return (Part 1 of 2)

If a credit union finds itself with a budget surplus and ROI is a must, where should it look to invest in the short term?  I’d suggest two primary strategies to produce a quick return. The first would be to optimize existing systems, and the second would be to invest in self-funding initiatives. When optimizing…

Social Media is the Future of All Consumer Decisioning

Social Media is the Future of All Consumer Decisioning

Today, social media is an absolute extension of “self.” But with the coming of functional AI, the future of social media is truly these living breathing reflective cohorts demonstrating, communicating and identifying the deepest reaches of the individual. That is: social media as a “Personality Avatar.” We are coming to the edge of social media…

Credit Unions Continue to Make Real Gains in the Auto Lending Marketplace, What’s Next?

Credit Unions Continue to Make Real Gains in the Auto Lending Marketplace, What’s Next?

Published in Auto Lending

Credit unions continued to make significant advances in the auto lending marketplace in 2017. A testament to credit unions’ strong performance in auto lending, the 1,100-plus credit unions on CU Direct’s CUDL platform topped all other lenders in 2017, funding 1.8 million loans, and becoming the nation’s number one lender as an aggregate. CUDL credit…

The Five Building Blocks of the Automotive Industry Disruption

The Five Building Blocks of the Automotive Industry Disruption

As with any concept, to understand disruption, and its power to either help you or damage you, let’s break it down into manageable chunks. In the business marketplace, we see disruption emerging as an increasingly powerful force in five key areas: 1. Increased customer power. People who buy your products have more choices and they’re more involved in…

The Auto Lending Road Is Wide Open For Credit Unions

The Auto Lending Road Is Wide Open For Credit Unions

Published in Auto Lending

We’ve seen the headlines reporting that auto sales are in decline and are expected to recede over the next couple of years.  At first glance, the news may seem unsettling.  As of July 31, new auto sales had fallen 7% from a year earlier to 1.42 million vehicles, according to Autodata Corp.  But, is there…