Credit Union Industry News

Learn the latest Credit Union Industry news and information about Lendsys loan decisioning software

Strategies for Lenders to Positively Impact Their Loan Portfolios in 2020 and Beyond

After several years of steady loan growth in most consumer loan segments, most financial institutions have started to see loan originations beginning to level off and slow down. In light of stable and potentially continually decreasing interest rates from the Fed, and with CECL compliance in the wings, financial institutions need to be implementing processes that increase quality loan production with an eye towards being able to weather any potential economic downturn.

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How (and Why) to Market Your Credit Union to Millennials

Marketing to millennials (and for that matter – marketing In general) is a challenge for any organization today, and credit unions are no exception. However, credit unions continue to hold an advantage over big banks in the financial marketplace, in that many millennials favor community-level and cooperatively managed organizations over large corporations.

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Auto Lending – See How Double-Digit Growth Affects the Industry

The automotive sales segment has been strong in this country for years, fueled as much by low gas prices as consistent ongoing consumer demand. Credit unions have reaped their share of the bounty, ending the third quarter of 2017 with auto loan growth totaling more than $329 billion and marking 17 consecutive quarters of auto lending growth measuring in double digits.

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System Discovery – Risk-Based Pricing

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?

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What’s New in FinTech

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.

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