Shifting into Second: The Future of Driving Auto Loans (Part 2)

Shifting into Second: The Future of Driving Auto Loans (Part 2)

The notion of a buying service has been around for some time, generally in the form of an auto broker who negotiates a price on the consumer’s behalf, in exchange for a broker fee either built into the purchase price of the vehicle or charged separately for the service.  While the traditional broker model still…

Capitalizing on Business Intel & Portfolio Management For Loan Growth

Capitalizing on Business Intel & Portfolio Management For Loan Growth

Over the last 18 months, credit unions have experienced healthy loan growth, and have seen loss and delinquency ratios decline.  Is it because credit unions are doing a better job of lending than prior to the recession?  One could argue that these simple metrics, while quite popular, do not tell the entire story.  So, before…

Shifting into Second: The Future of Driving Auto Loans (Part 1)

Shifting into Second: The Future of Driving Auto Loans (Part 1)

For the auto industry, the Road to Purchase has shifted radically. Today, most shoppers take several months to go from the initial decision to buy a car, to the ultimate action of buying one, taking full advantage of research tools and other resources throughout their digital journey, much more heavily than ever seen in the…

Responding to Members’ Fears About Data Breach & ID Theft

Responding to Members’ Fears About Data Breach & ID Theft

Over the last year, the number of high-profile data breach events has escalated.  Companies ranging from Target, eBay, and AT&T, to Marriott, Hilton, Coca Cola, PF Chang’s, and others, have been effected by data breaches, so it is not surprising to learn that consumers – some of whom include your individual credit union members –…

Increasing Loan Portfolio Profitability is About More Than Reducing Losses

Increasing Loan Portfolio Profitability is About More Than Reducing Losses

In the book, “Seeing What Others Don’t: The Remarkable Ways We Gain Insights,” author Gary Klein points out that many organizations focus on reducing errors to increase performance, but few focus on new insights.  His argument is that true performance improvement requires the opportunity for both.  As consumer lending continues to be highly competitive for…

How Credit Score Migration Analysis Can Identify Opportunities, Mitigate Losses

How Credit Score Migration Analysis Can Identify Opportunities, Mitigate Losses

Most credit unions use a credit score to decision and price loan applications.  In fact, in many cases the credit score is used as the primary factor in credit and pricing decisions.  Therefore, since the score is such an important factor, it stands to reason that we should have a good understanding of what it…

Auto Buying Demand Improves, Hits Pre-Recession Levels

Auto Buying Demand Improves, Hits Pre-Recession Levels

By Jose Torres, Senior Business Analyst, CU Direct New and used November YTD auto sales figures are 8.3% and 3.6%, respectively, above 2012 levels, and if these trend holds up, the auto industry is on target to record 57.7 million units in sales in 2013; a level not seen since 2007. New and used vehicle…

Growth of Mobile – A Strong Play for CUs

Growth of Mobile – A Strong Play for CUs

By Cindy Bach, Sr. Product Analyst, Product Management, CU Direct “It’s not what you look at that matters, it’s what you see.” Henry David Thoreau Study after study reveals that the consumer adoption rate of mobile devices has grown exponentially over the last few years. Mirroring this trend, members are increasingly demanding mobile services to…

Focus on CU and Dealer Relationships

Focus on CU and Dealer Relationships

Published in Auto Lending

Credit Union Case Study Discover how one credit union has been able to build successful dealer relationships that have led to increased loan volume and grown membership. Credit Union of America needed to capture the auto loans it was losing at dealerships, as well as grow its membership. The Wichita, Kansas-based credit union recognized that…