April 5, 2024: Jefferson Parish Employees Federal Credit Union has joined the CUAC indirect program in Louisiana. Jefferson Parish Employees Federal CU has joined the CUAC family of credit unions in Louisiana to better serve their members and increase their brand presence at the point of sale. “Jefferson Parish Employees FCU is excited about the[…]
CUAC Funds $3.1 Billion in Quality Performing Loans in 2023
Houston, TX – March 21, 2024 – Credit Union Acceptance Company (CUAC, a CU Alliance Company), announced $3.1 Billion in funded loans in 2023. This is an impressive accomplishment considering credit unions are facing difficult times due to challenging economic conditions, diminished, soaring vehicle prices dampening consumer demand, and the implementation costs associated with CECL[…]
Measuring Success: Key Performance Indicators for Indirect Lending
March 2024. By Vicky Kinsey Credit unions are increasingly turning to indirect lending programs to expand their reach and offer members a broader range of financial products. Indirect lending presents a unique set of challenges and opportunities. To navigate this terrain effectively, credit unions must establish and monitor key performance indicators (KPIs) to gauge the[…]
3 Emerging Trends in Indirect Lending for Credit Unions
January 2024 By: Jeff Zaccaria, VP of Lending The new year is here, and this one will be no different than previous ones; credit unions are embarking on a transformative journey in the ever-evolving indirect lending landscape. This exploration delves into three essential trends reshaping how credit unions engage with members and elevate their lending[…]
First Federal Credit Union’s Transformational Journey with CUAC’s Indirect Lending Program
By Vicky Kinsey January 2024 In the pursuit of efficient indirect loans, First Federal Credit Union underwent a strategic overhaul, recognizing the need to streamline processes, expand outreach, and explore new markets. Here’s how CUAC’s Indirect Lending Program played a pivotal role in their transformational journey. Systemic Hurdles and the Call for Change Their existing[…]
Strengthen Dealer Relationships with Indirect Lending
By Rene Figueroa October 2023 Building strong dealer relationships is a proven strategy that credit unions can leverage to distinguish themselves and attract new members in the highly competitive financial landscape. Credit unions can solidify their position as the preferred financing partner by combining the power of indirect lending with dealer partnerships based on[…]
Indirect Lending: Driving Growth and Competition for Credit Unions
By: Jeff Zaccaria October, 2023 Embracing indirect lending programs presents a powerful and strategic opportunity for credit unions to not only stand out but also gain a competitive edge in the market, effectively countering captive finance companies, national and regional banks, and even local competitors. Amid today’s fiercely competitive financial landscape, the implementation of indirect[…]
Adapting Indirect Lending for Success: Factors Reshaping the Industry
By Kurt Howard September 2023 The world of lending is in a constant state of evolution, and 2023 is proving to be no different. Beyond the well-known trends, such as digital transformation and personalized experiences, several other pivotal factors are set to shape the indirect lending industry this year. We will explore these factors and[…]
Enhancing Greater Kentucky CU’s Indirect Lending Operations through Partnership with CUAC
By: Vicky Kinsey September, 2023 Before embarking on its partnership with CUAC, Greater Kentucky Credit Union had been using another Credit Union CUSO to administer their underwriting for their Indirect Lending Program. The need for a change in their Indirect loan origination process became apparent when their previous service provider notified them that they would[…]
Information is Power – Without Analytics, Indirect Lending Can Be Dangerous
By: John Riley August 2023 Indirect lender credit unions without a powerful business intelligence analytics tool expose themselves to unnecessary additional risk. With Credit Union Acceptance Company (CUAC), a credit union-owned company, our customers harness the power of Microsoft Power BI to transform raw data into interactive and visually appealing insights, enabling better decision-making and[…]