Blog Posts From: 2018
How Excellence in Dealer Engagement Led BECU To a Record-Breaking Year
As credit unions continue to increase their presence in the auto lending marketplace, dealer engagement only becomes more essential. A good working relationship with dealers, coupled with lending technology can increase opportunity for funding auto loans, which improves the credit union’s market presence and deepens their loan portfolio. CU Direct spoke to Boeing Employees Credit…
Affinity Plus CU’s Approach to Innovation in Lending
Lending is top priority for credit unions who wish to thrive in today’s market, and to do so, innovative practices are key. The faster a credit union is able to originate and approve a loan, the more loans they will fund. Discover how Affinity Plus Credit Union– the recipient of CU Direct’s 2018 Innovation in…
For UWCU, Excellence in Indirect Lending Resulted in Significant Growth
Indirect lending provides credit unions with the unique ability to offer a convenient method of financing to members, while also having the opportunity to grow their member base. As one of the fastest growing loan segments for credit unions, this is an important way for them to diversify and deepen their loan portfolio. Credit unions…
One Credit Union’s Approach to Excellence in Auto Lending
Auto lending is the backbone of credit unions’ loan portfolios. Credit unions continue to not only compete in the auto lending arena, but to outperform much of the marketplace, improving their market presence, and capturing more loans. With a strong, and growing position in the marketplace, credit unions need to lead with service as a…
For UMe Federal Credit Union, Incorporating an LOS Digital Strategy Delivered Double-Digit Loan Growth
When CEO Robert Einstein decided to implement a new loan origination system at UMe Federal Credit Union, all he was looking for was an LOS that would upgrade his online loan application process to include instant decisioning. He got it. But he also received so much more. The $215 million Burbank, California-based credit union now…
For Gather FCU, LOS Technology Drives Loan Volume, Heightens Efficiencies and Member Engagement
Residents of the Aloha State have consistently polled at or near the top of the Gallup-Healthways Well-Being Index, attributed in part to Hawaii’s well-known laid-back culture. However, aligning Hawaii’s laid-back lifestyle with the fast, ever-changing pace of today’s consumer lending environment can be a challenge. Just ask Justin Ganaden, EVP at Gather Federal Credit Union….
Credit Union Auto Lending Revs-Up
Credit unions have been gaining auto lending market share for a few years, and 2017 not only continued this trend but proved to be an especially good year. Credit unions market strength is reinforced by the 11.3% year-over-year auto loan growth they experienced in 2017, expanding their market share in both new and used car…
Drive ’18 Lending Conference — It’s a Wrap!
To gain a true advantage in today’s ultra-competitive, ever-changing lending marketplace, credit unions need to embrace (and implement) new strategies and solutions that effectively drive member loans, better engage members and improve loyalty, better manage risk, and ultimately grow portfolios. At CU Direct’s recent Drive ’18 Conference, which took place deep in the heart of…
Is Technology Sprawl Ruining Your Member Lending Experience? (Part 2 of 2)
Technology has expanded our ability to do more things with greater ease, but has it really made us, as lenders, more efficient? In part one of our two-part article series, we discussed in detail the four ways to effectively fight lending technology sprawl. Now, let’s look at the keys to implementing the right loan origination…
6 Questions Every Credit Union Must Ask When Assessing Asset Recovery & Disposition
Asset recovery and disposition is something few credit union executives enjoy talking about. Still, compliant recovery and disposition processes that perform well against industry benchmarks are a key component of solid auto loan portfolio performance. To assess how well your recovery and disposition processes are performing, there are six key questions every credit union executive…