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In Winning the Auto Lending Race, What’s Next?

You may have heard the expression, “to the victor go the spoils.” Interestingly, this phrase did not originate in some centuries-old prose or novel. As eloquent as it seems, it was actually believed to have been spoken by Senator William L Marcy in 1831, as he described the benefits that come upon winning the presidential…

A Word on Meal Prep and Data Warehousing

A Word on Meal Prep and Data Warehousing

If you are a fan of social media networking, as I am, there is no doubt that you have at least a handful of individuals in your network who like to share pictures of their healthy “meal prep” every week. Meal prepping is the process of preparing one’s meals for the coming week and organizing…

The Prospects of Change

The Prospects of Change

This is graduation season. Over the past two weekends, I’m proud to have had the opportunity to celebrate college graduations for my youngest two daughters.  It has certainly been hectic, as these graduations were at two different schools — in two different states, but it is truly a blessing to know that I have completed…

Fifty First Loans

Fifty First Loans

Well, February is considered the month of love, and on February 14th you most likely took the opportunity to tell that someone special in your life what you should have told them, repeatedly, over the last 365 days.  There used to be an old marriage joke that maybe worked in the mid-twentieth century, but probably doesn’t…

Strengthening Portfolio Performance is Critical in Today’s Auto Lending Marketplace

Since the beginning of time, lenders have sought a way to accurately measure and predict risk in their loan portfolios. Understanding risk allows lenders to make sound credit decisions and properly price loans.  Ideally, lenders need to make, at the very least, a high enough return on loans to cover the principle and any costs,…

The Future of Autonomous Lending is Now

The Future of Autonomous Lending is Now

I recently had the opportunity to research some of the emerging transportation technologies that will affect our lives over the next ten to fifteen years. Alternative fuels, autonomous vehicles and the ride sharing economy have been discussed in media for several years, and today we are beginning to experience how some of these technologies are…

Millennials and Auto Buying: What Really Matters to CUs

Millennials and Auto Buying: What Really Matters to CUs

Published in Auto Lending

There has been a lot of discussion of late on the subject of millennials, especially when it comes to attitudes regarding transportation choices, and specifically vehicle ownership. At the recent CUNA Lending Council Conference, there was an entire session devoted to millennials, with a panel of appropriately aged individuals providing anecdotal testimony to the findings…

Using Technology to Improve the UX

Using Technology to Improve the UX

Recently, our product team was involved in a discussion about “user experience.” This topic has become very important in the world of technology, as we continue to create very sophisticated tools to advance how companies, including financial institutions, do business.  However, if the user can’t figure out how to use the technology they have, it…

CECL Compliance – Success is a Process, Not a Destination

CECL Compliance – Success is a Process, Not a Destination

According to the American Bankers Association, CECL (Current Expected Credit Loss) represents “the biggest change to bank accounting, ever.” The reality of these sweeping changes in the way we have done business for the last three to four decades, for some, is daunting.  Don’t make the mistake of believing that the five years given before implementation…

Transparency is Key to Protecting Members’ Assets

My wife and I are “owned” by two German Shepherd Dogs. These are by far the smartest dogs I have ever been around.  If they had thumbs, they would probably rule the world.  But, even the smartest dogs in the pack can be fooled when they are distracted by something they are passionate about.  In…