Credit Union Advisory Services
Expert Guidance to Maximize Lending Operations
In today’s increasingly competitive lending market, credit unions must continuously evaluate how to maximize lending, create efficiencies and increase profitability in order to remain market leaders and relevant to members. CU Direct helps credit unions stay one step ahead of competition, while meeting regulatory requirements, by providing advisory services that are tailored to the needs and objectives of each credit union.
|Optimization Review||Portfolio Risk & Profitability Analysis|
|Increase Loan Growth by 27%||CU’s charge 24% less for loans than competitors.|
CU Direct's Advisory Services Review will help your credit union identify opportunities for increasing process efficiencies that create a competitive edge. Our program evaluation will identify strategic changes that can be made to better your position in the marketplace:
Credit unions often believe it is difficult to compete in a market where rates on loans are so low. Yet, credit unions are driving pricing down because they believe it is the only option to be competitive. CU Direct’s Advisory Services helps the credit union assess profitability and ensure proper management indicators are in place:
|Fair Lending Analysis||Lending Academies|
|100% of lenders reviewed had at least one instance of possible inadvertent disparate impact.||98% of lenders use internal performance data to determine how they will interact with customers.|
Even an inadvertent disparate impact can cost your credit union thousands of dollars. If any of your policies cause a disparate impact to any member in a protected class, you could be guilty. CU Direct’s Advisory Services can analyze your lending practices and determine whether there are areas you should be concerned about... before regulators find it.
If your credit union is not using its own data to identify opportunities for growth and increased members service, or to root out possible challenges in future performance, you may be missing opportunities. CU Direct Lending Academies provide lenders with comprehensive and timely insight into what high performance credit union leaders look for and how they collect and manage their data.
Michael Cochrum, VP, Analytics and Advisory Services at CU Direct, has made a career in consumer finance that spans almost three decades. Michael has worked for several national banks, including Fifth-Third and Citibank (Citi). Mr. Cochrum came to credit unions in 1999, beginning his work with Metroplex Credit Union and then City Credit Union of Dallas before joining the CU Direct organization in 2004. He has an extensive and broad lending background in underwriting, collections, asset recovery, and program management.
Over the last four years, Michael has also been instrumental in bringing data analytics to the credit union space and is a sought after speaker and writer on the subject of loan portfolio risk management. Michael is now an Executive Lending Advisor, helping credit unions across the country optimize lending efficiencies and improve risk management strategies. He is lead instructor of the Lending Analytics and Portfolio Academy sponsored by Lending Insights. Michael is a 2004 graduate of the Southwest CUNA Management School.
Start the conversation | (877) 744-2835