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Imagine that you have two credit union members applying for an auto loan with your credit union. Both members have identical credit scores, and both are purchasing the exact make and model new car. Do you underwrite and price the applications for both members, exactly the same?

Technology has impacted nearly every aspect of the developed world. In fact, FinTech (technology related to finance) has allowed several processes that were formerly handled manually to be executed by artificial intelligence (AI). Here are some of the most interesting developments in FinTech.

Credit union members enjoy more personalized interactions with tellers, lending officers, and other individuals working for the institution, and are often happier with the service they receive from their credit union than customers of any of your competitors.

The personalized attention provided by many credit unions to their members represents one of the major advantages that credit unions have over large banks. However, there’s nearly always room for improvement.