Lending Advisory Services Articles
How To Optimize Loan Performance
Rapid growth in credit union indirect lending programs has triggered more examiner scrutiny and additional emphasis on the performance of these programs. Credit unions can be more effective in mitigating risk and optimizing performance within their indirect portfolios by taking a number of steps, including implementing a series of key metrics: dealer performance scorecards, multi-dimensional…
Technology Investments that Can Elevate Product and Service Delivery
Although it can be tempting to chase the next new shiny object—and there are always exciting new innovations to consider in the financial industry—credit unions should focus on technology investments that optimize the delivery of trusted products and services to members. With an ever-increasingly competitive lending marketplace vying for consumer loyalty, credit unions should focus…
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
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
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…
Drive ’17 Conference Delivers the Speakers and Strategies to Help CUs Win
The lending marketplace continues to see competition ramp up. And now, more than ever, to remain not only competitive, but to gain market share, credit unions that embrace cutting-edge technology and strategies to capture more loans, improve loan portfolio performance, better engage members, and improve member loyalty, have a distinct advantage. Leading experts and innovators…
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…
Matters of Speed and Automation
CU Direct’s maxim “Getting to Yes Faster,” referencing quick yes decisions on loan applications, has a nice ring to it. But I’d argue this isn’t just about getting to a “yes” decision quickly. It’s also about making fast loan decisions in general, regardless of whether the answer is yes or no. Fast decisions overall are…
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…
Building for the Future
When my brother and I were kids, we liked to build things. We built forts, ramps and anything else we could fashion out of scrap wood. Typically, our projects served a specific function, to ward off rival “street gangs” of preteens from another block, to propel our dirt bikes into the air, or whatever else…