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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…

How Can CUs Discover New Strategies to Gain a Competitive Edge? Join Us at Drive ’16.

What are the real keys to credit unions advancing their marketplace success against banks and other financial institutions in today’s lending environment? The lending marketplace continues to see competition ramp up, and those financial institutions that incorporate cutting-edge strategies to better engage members, improve member loyalty, capture more loans, and improve loan portfolio performance have…

Leveraging Technology to Better Serve Members and Increase Loans

Leveraging Technology to Better Serve Members and Increase Loans

Credit unions can increase loan growth 27% by doing one simple thing; increase system decisions on loan applications.  In a recent study of credit union indirect application data from 2014, CU Direct was able to determine that auto-approved loan applications are 11% more likely to fund than applications approved manually.  When one considers that about…