Lending Articles

Economist on Effects of Coronavirus: “Comes like a freight train, but expect it to go away quickly”

Economist on Effects of Coronavirus: “Comes like a freight train, but expect it to go away quickly”

The traditional definition of a recession is two consecutive quarters of negative GDP growth — but the worldwide shock of the Coronavirus has forced that model to stand on its head. According to economist Elliot Eisenberg, president of Graphs and Laughs, LLC, and wildly popular presenter at CU Direct’s annual conference over the last few…

CU Direct + Origination + Experience = ORIGENCE

CU Direct + Origination + Experience = ORIGENCE

Published in Lending

CU Direct started with a single solution—the CUDL indirect lending network. For 25 years, CU Direct has continually evolved, developing industry-leading products and services, and disrupting longstanding processes to help credit unions win.

Bulldog FCU Goes From “0-60” with Indirect Lending Success

What would your credit union do if you could start your indirect lending program from scratch? In February 2018, $167 million Bulldog Federal Credit Union, headquartered in Hagerstown, Maryland, got to answer that very question – and the clear choice was CU Direct and its CUDL indirect auto lending platform. Bulldog FCU was chartered on…

Economic and Lending Trends Webcast Recap: Continued Low Unemployment, Recession Fears Wane, But Subprime Auto Lending a Concern

Economic and Lending Trends Webcast Recap: Continued Low Unemployment, Recession Fears Wane, But Subprime Auto Lending a Concern

The U.S. economy is in a “Goldilocks” state of low unemployment and sustained, if unspectacular, growth, but Dr. Elliott Eisenberg warned of a potential trouble spot in subprime auto lending. Eisenberg, an internationally acclaimed economist who has appeared at numerous CU Direct Drive Conferences, spoke during our December quarterly Economic and Lending Trends webinar. During…

Mortgage Lending Provides Important Credit Union Growth Opportunity

Mortgage Lending Provides Important Credit Union Growth Opportunity

Growth is a primary objective of any business, including credit unions. Growth is a prerequisite for better service because it provides the resources that allow the institution to innovate and improve. It also prevents or hinders competitors from taking market share that could result in reduced membership and fewer resources to spend on products and…

Credit Union’s New Lending Strategy Brings Unexpected Benefits Beyond Loan Growth

Sandia Laboratory Federal Credit Union, Albuquerque, N.M., thought its switch to CU Direct’s CUDL platform would help the credit union provide more convenience to its existing members who were looking to buy a car. But what the credit union didn’t anticipate was a dramatic surge in new memberships. SLFCU was founded in 1948 by 15…

Digital Transformation and Data Strategies Should be Top of Mind in Tech Budgeting (Part 2)

Digital Transformation and Data Strategies Should be Top of Mind in Tech Budgeting (Part 2)

In part one of our two-part article series, we discussed the importance of innovation over three horizons ranging from 12 months to five years out. With “Horizon 1” over the next 18 months being the most critical for credit unions to focus on. This includes aligning digital transformation with your overarching business strategy, refreshing legacy…

Digital Transformation and Data Strategies Should be Top of Mind in Tech Budgeting (Part 1)

Digital Transformation and Data Strategies Should be Top of Mind in Tech Budgeting (Part 1)

As your credit union finalizes its 2020 technology budget, are you confident that you are effectively judging the magnitude of change that will occur in the short-term, while keeping an eye on long-term trends? Technology experts say you must deliver a service standard that compares to Amazon. Members expect an experience that compares to the…

How Credit Unions Can Set Themselves Apart in the Mortgage Lending Business

How Credit Unions Can Set Themselves Apart in the Mortgage Lending Business

Since their inception, credit unions have been able to leverage the membership dynamic to set themselves apart from other financial institutions. But when it comes to building a mortgage lending pipeline, it takes more than just a built-in membership base to serve today’s borrowers’ needs. Let’s take a closer look at three ways credit unions…

Economic and Lending Trends Webcast Recap: GDP Growth is Slowing, But No Recession In Sight

Economic and Lending Trends Webcast Recap: GDP Growth is Slowing, But No Recession In Sight

The U.S. economy posted huge growth numbers in 2018. Conditions have cooled a bit in 2019, but despite numerous predictions of a pending recession in recent weeks, there are signs pointing to continued economic growth, for at least the next 12 months. That was the prediction from Dr. Elliot Eisenberg, nationally acclaimed economist, who spoke…