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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…

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…

MODDern Times In Auto Lending, Deep in the Heart of Texas

MODDern Times In Auto Lending, Deep in the Heart of Texas

Randolph Brooks Federal Credit Union (RBFCU) is way ahead of the game when it comes to supplying the three most important elements in the modern auto buying experience – convenience, convenience, convenience. RBFCU is a $9.2 billion credit union headquartered in Live Oak, Texas, a northern suburb of San Antonio, near the legendary Randolph Air…

‘CUDL Way of Life’ Results in More Booking, Better Dealer Relations, and Expanded Market Presence for Amplify Credit Union

When $930 million Amplify Credit Union, based in Austin, Texas, switched to the CUDL platform it was more than just a change of indirect auto lending portals, it represented a move up to the “CUDL way of life,” according to Tony Kountoupis. Kountoupis, the credit union’s VP of consumer lending, said Amplify had been using…

Credit Union Auto Lending Cruising in 2018

Credit Union Auto Lending Cruising in 2018

Remember late last year, when auto loans were predicted to drive 2018 total credit union loan growth at a rate of 9.5 percent? Some doubted credit unions would achieve that growth rate, especially after a number of industry experts forecasted a 2.3 percent reduction in 2018 new car sales. The post-recession boost in new car…

Credit Union Embraces Digital Lending System, Grows Indirect Lending to Become Wisconsin’s #2 Auto Lender

University of Wisconsin Credit Union (UW Credit Union) has come a long way with its indirect auto lending since first implementing CU Direct’s CUDL Platform – in more ways than one. Mike Long, Executive Vice President and Chief Credit Officer for the $2.7 billion UW Credit Union, based in Madison, Wis., recalls rudimentary technology and…

How Excellence in Dealer Engagement Led BECU To a Record-Breaking Year

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…

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…

Credit Union Auto Lending Revs-Up

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…

The Auto Lending Road Is Wide Open For Credit Unions

The Auto Lending Road Is Wide Open For Credit Unions

Published in Auto Lending

We’ve seen the headlines reporting that auto sales are in decline and are expected to recede over the next couple of years.  At first glance, the news may seem unsettling.  As of July 31, new auto sales had fallen 7% from a year earlier to 1.42 million vehicles, according to Autodata Corp.  But, is there…