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…

Protecting Your Credit Union from Cyber & Data Breach — A Greater Challenge in 2015

Protecting Your Credit Union from Cyber & Data Breach — A Greater Challenge in 2015

Protecting your members and your credit union from cyber-attacks will be a greater challenge in 2015.  With the New Year upon us, the forecast for 2015 indicates a significant increase in the number data breach events affecting consumers and your members. As threats continue to rise, credit unions are searching for ways to reduce their…

20 For 20 Giveback Campaign Contributes $60K to CMN Hospitals

20 For 20 Giveback Campaign Contributes $60K to CMN Hospitals

Published in Community

CU Direct is excited to announced the winning Children’s Miracle Network Hospitals for its December-long 20 for 20 Giveback Campaign. Congratulations to the two winning CMN hospitals, Salt Lake City, Utah’s Primary Children’s Hospital and Flint, Michigan’s Hurley Children’s Hospital!  Both hospitals will receive a $20K donation from CU Direct. An additional $20K is being donated to the four runner-up…

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…

Is Your Credit Union Prepared for a Data Breach Event?

Is Your Credit Union Prepared for a Data Breach Event?

…The Odds are Against You as Thieves Get More Sophisticated. We are experiencing the worst year in history for data breaches in the United States.  Since the beginning of 2014, when Target department stores had announced one the largest breach events ever, there has been a significant increase in incidents, with a major breach now occurring on…

Achieving Sustainable Loan Growth (Part 1)

Achieving Sustainable Loan Growth (Part 1)

Published in Auto Lending, Lending

Framing the Problem For every credit union that has invested heavily in its lending process, there are plenty more who haven’t.  Ok, most haven’t.  This is surprising considering the majority of a credit union’s earnings are loan-related and most strive to deliver a quality member experience.  This may also be why our industry struggles to…

The Key to Great Analysis for Credit Unions

The Key to Great Analysis for Credit Unions

One of the roadblocks we often see with credit unions is that they do not have quality data that is necessary for the analysis process.  The key is to incorporate data management strategies that ensure a credit union has quality data for analysis. Data management and analysis is not contained in a single job function. …