Lending 360 Upgrades Southwest Airlines FCU’s Lending Experience to First Class
New technology systems always make at least some employees feel apprehensive. That’s understandable; most people don’t like change. The $555 million Southwest Airlines FCU kept this in mind as it prepared to launch the Lending 360 loan origination system (LOS) two years ago. To minimize that fear, the Dallas-based credit union had its lending staff…
Member Business Lending is Much More Than That
Across the United States, small business is anything but “small” business. According to the U.S. Small Business Administration (SBA), small businesses (defined as businesses with fewer than 500 employees) account for over 99% of all American businesses and close to sixty million employees. As existing small businesses continue searching for ways to grow and prosper,…
LOS Automation Allows Kings Federal Credit Union to Lend Large
When credit union executives think of liquidity management tools, loan origination software isn’t typically the first thing that comes to mind. But that’s exactly how Kings Federal, a SEG-based credit union in Hanford, Calif., is using CU Direct’s Lending 360 loan origination system (LOS). Kings Federal is a robust auto lender, with auto loans representing…
In Celebration of International Credit Union Day 2018
On October 18, credit unions around the globe will be celebrating International Credit Union Day. Celebrated on the third Thursday of October since 1948, this event is an opportunity to recognize the credit union movement’s global impact and influence in local communities around the globe. For International Credit Union Day’s 70th anniversary, this year’s theme…
Understanding Trigger Marketing
Two hundred years ago, Napoleon noted that “war is 90 percent information.” In today’s highly competitive financial services industry, financial institutions must have good data…and know how to use it. Credit unions are realizing the importance of automating their marketing efforts, leveraging their data, so that products and services intersect as efficiently as possible with…
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…