CU Direct

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

CU Direct

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.

CUDL Complete Helps Patelco Navigate Processing Hurdles After Robust Indirect Volume Growth

CU Direct

The $7 billion Patelco Credit Union set lofty growth goals for its indirect auto lending program in 2017. With the help of an aggressive rate strategy, the credit union’s indirect team delivered. As of Dec. 31, 2017, the Pleasanton, Calif.-based

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

CU Direct

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.

Trends 141

Consumer LOS Upgrade Generates Big Gains for CU in Niche Markets

CU Direct

Credit unions are coming full circle in the current business climate that favors those who drill deep into niche markets, rather than casting a wide but shallow net. Technology has enabled businesses to locate ideal customers, reach them where they live, and speak their language.

New Loan Origination Technology Helps Vantage West Drive Speed and Efficiency Across the Entire Lending Process

CU Direct

The $2 billion Vantage West Credit Union is one of Arizona’s largest financial institutions, serving nearly 157,000 members.

Consumers Credit Union Finds Success Blazing An “Indirect” Trail With CU Direct In Western Michigan

CU Direct

Consumers Credit Union wanted more – much more – out of its indirect auto lending program. The credit union was frustrated with the inefficient way dealer partners sent the credit union applications through many costly systems, which ended up in their separate loan origination system.

The Six Disruptors of Customer Experience

CU Direct

Your Service is a global education and consulting company.

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

CU Direct

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

For UMe Federal Credit Union, Incorporating an LOS Digital Strategy Delivered Double-Digit Loan Growth

CU Direct

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.

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

CU Direct

As credit unions continue to increase their presence in the auto lending marketplace, dealer engagement only becomes more essential.

LOS Technology Cultivates Healthy Auto and Consumer Loan Programs at MVFCU

CU Direct

The Alaska State Fair in Palmer, Alaska, is well-known for its giant vegetable exhibits, including a world record cabbage that weighed almost 140 lbs. and pumpkins that regularly top 1,000 lbs.

Alaska 130

One Credit Union’s Approach to Excellence in Auto Lending

CU Direct

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.

Growing Your Mortgage Business In A Challenging Market

CU Direct

It’s a great time to be a lender in just about any loan category in the credit union industry. Assets, total loans, resi, auto, credit cards, member business loans are all up. Even better news, delinquencies are at cycle lows, so performance is strong due to a healthy economy.

Member Business Lending is Much More Than That

CU Direct

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.

Understanding Trigger Marketing

CU Direct

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.

How LOS Efficiency Helped Elevate Trailhead CU to New Heights

CU Direct

When Justin Olson joined Trailhead Credit Union in 2013 as vice president of member services, the credit union was facing an uphill climb. With a loan-to-share ratio of just 59 percent and on a steady monthly decline, the $120M credit union was only originating around $1 million per month in 2013.

System 169

Auto Lending Fraud Trends in 2019

CU Direct

Have you heard this phrase before – “the more things change, the more they stay the same”? This is certainly the case when it comes to auto lending fraud. Fraudsters may change their stripes and perpetrate new and more clever schemes each year, but in the end the results are the same – lenders and.

Trends 130

For UWCU, Excellence in Indirect Lending Resulted in Significant Growth

CU Direct

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.

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

CU Direct

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.

Austin 130

Is Technology Sprawl Ruining Your Member Lending Experience? (Part 1 of 2)

CU Direct

How many systems, both digital and manual, do your members and employees have to navigate before booking a loan? The answer may surprise you, and provide some critical insight if your credit union isn’t meeting its loan growth goals. What is Technology Sprawl?

The Five Building Blocks of the Automotive Industry Disruption

CU Direct

As with any concept, to understand disruption, and its power to either help you or damage you, let’s break it down into manageable chunks. In the business marketplace, we see disruption emerging as an increasingly powerful force in five key areas: 1. Increased customer power.

For Gather FCU, LOS Technology Drives Loan Volume, Heightens Efficiencies and Member Engagement

CU Direct

Residents of the Aloha State have consistently polled at or near the top of the Gallup-Healthways Well-Being Index, attributed in part to Hawaii’s well-known laid-back culture.

Hawaii 158

Lending 360 Upgrades Southwest Airlines FCU’s Lending Experience to First Class

CU Direct

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.

Driving the Car Buying Revolution

CU Direct

When it comes to digital retail, buying a new car has lagged behind other products and services that can be purchased entirely online. Many would agree that the auto industry as a whole is behind the digital curve when it comes to the car buyer’s experience. However, that is rapidly changing.

Google 191

6 Questions Every Credit Union Must Ask When Assessing Asset Recovery & Disposition

CU Direct

Asset recovery and disposition is something few credit union executives enjoy talking about. Still, compliant recovery and disposition processes that perform well against industry benchmarks are a key component of solid auto loan portfolio performance. To assess how well your recovery and disposition processes are performing, there are six key questions every credit union executive.

Is Technology Sprawl Ruining Your Member Lending Experience? (Part 2 of 2)

CU Direct

Technology has expanded our ability to do more things with greater ease, but has it really made us, as lenders, more efficient? In part one of our two-part article series, we discussed in detail the four ways to effectively fight lending technology sprawl.

Social Media is the Future of All Consumer Decisioning

CU Direct

Today, social media is an absolute extension of “self.” But with the coming of functional AI, the future of social media is truly these living breathing reflective cohorts demonstrating, communicating and identifying the deepest reaches of the individual.

How To Optimize Loan Performance

CU Direct

Rapid growth in credit union indirect lending programs has triggered more examiner scrutiny and additional emphasis on the performance of these programs.

How To 130

LOS Automation Allows Kings Federal Credit Union to Lend Large

CU Direct

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).

Adopting New Loan Origination Technology Produces Record Loan Growth For Pacific Service

CU Direct

To achieve 18% annualized loan growth, a credit union needs a robust and efficient loan origination system. For Pacific Service Credit Union, Lending 360 was the right loan origination system to get the job done. The $1.2

Technology Investments that Can Elevate Product and Service Delivery

CU Direct

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.

Is it Time to Upgrade Your Loan Origination System?

CU Direct

New CU Direct Case Study Reveals How the Right LOS Can Be a Significant Driver for Greater Loan Activity.

System 191

Lending Strategies That Generate a Quick Return (Part 2 of 2)

CU Direct

Your credit union has set its 2018 budget, but it has some limited extra funds to invest in the short-term. Where should it invest right now to get the most bang for the ROI? In part one of our two-part article series, we discussed how optimizing existing systems can be a smart lending strategy that.

Home Financing: A Great Opportunity for Credit Unions

CU Direct

Credit unions are known for world-class customer service, but most home lending business is going to banks or non-traditional lenders rather than to credit unions, even when it comes to their own members. What are credit unions missing?

DRIVE 19: Speakers, Strategies and Technology to Gain a Competitive Edge

CU Direct

To gain a true advantage and remain competitive in today’s ever-changing and ultra-competitive lending marketplace, cutting-edge technology is key. Implementing new strategies and solutions can help credit unions capture more loans, better manage risk, and ultimately grow portfolios.

Credit Union Auto Lending Cruising in 2018

CU Direct

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.

5 Ways to Rev-Up Your Lending Revenue

CU Direct

Lending is a credit union’s primary profit driver. Yes, investments also produce non-interest income, which is a big revenue source, but lending is where the rubber meets the road when it comes to people helping people.

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

CU Direct

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

Lending Strategies That Generate a Quick Return (Part 1 of 2)

CU Direct

If a credit union finds itself with a budget surplus and ROI is a must, where should it look to invest in the short term? I’d suggest two primary strategies to produce a quick return. The first would be to optimize existing systems, and the second would be to invest in self-funding initiatives.

High Dealer Satisfaction Means Good Business for Automotive Lenders

CU Direct

As automobile dealers increasingly expect faster and more efficient vehicle financing, they have begun to pivot away from placing the highest value on transaction speed and focus instead on their relationship with their lenders.

Study 186

Machine Learning Can Improve CUs’ “People Helping People”

CU Direct

Computer programming has come a long way since the late 1970s and early 80s, when high school students learned BASIC and wrote simple programs on Commodore 64s. Today, six-year-olds learn coding from LEGO kits purchased at Target and young entrepreneurs are earning millions writing apps and selling them to global fintech companies. Until recently, however, Read more » The post Machine Learning Can Improve CUs’ “People Helping People” appeared first on CU Direct Blog.

Drive ’17 Conference Delivers the Speakers and Strategies to Help CUs Win

CU Direct

The lending marketplace continues to see competition ramp up.

In Celebration of International Credit Union Day

CU Direct

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.