A year later. A world of change. In barely 12 months, the priorities of retail banking jumped from mortgage and auto lending, to deposits, deposits, and, *checks notes* deposits. Rates are up and economic indicators are all over the place. Even poorly-regulated banks failed! What’s a credit union leader to…
For some of your members, a debit swipe can regularly cost far more than the item they purchased. OD and NSF fees. Sure, they can be opt-in, but does that make them any better? When 75% of your fee revenue comes from 8% of members, that’s not mission-focused. Those members…
When did your credit union launch its indirect auto lending program? Many large institutions began theirs in the 1990s. They weren’t without challenges. The sector experienced only moderate growth until 2012, when a major shift occurred. Major bank lenders, after suffering losses exaggerated by the impacts of the Great Recession,…
Congratulations, you accomplished the digital auto lending challenge! When the effects of COVID-19 changed the world, your credit union jumped into action. Overnight, the focus became reaching your members at home. No matter what device they chose to satiate that moment of stress or boredom. And your system had to…
Seems like a strange question, right? It’s a thing you do. It’s a thing lots of financial institutions do. Millions of auto loans go through indirect channels each year. So what’s the issue? We’re not sure the concept fits your community-focused mission. At its simplest, you’re just another lender on…
