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[…]
Embracing Direct and Indirect Auto Lending Programs for Growth
By Kurt Howard August 2023 In the competitive world of financial institutions, credit unions have earned recognition for their member-focused approach and personalized services. Today, a strategic blend of direct and indirect lending has become essential for credit unions aiming to attract new members and expand their auto loan portfolios. While direct lending is crucial[…]
A Practical Approach to Cost-Effective Indirect Lending
By John Riley July 2023 It is no secret that today’s financial landscape is highly competitive, and credit unions continually seek cost-effective solutions to strengthen their lending capabilities. This article explores how credit unions can leverage innovative and flexible indirect lending programs to optimize their lending operations while minimizing unnecessary expenses. By partnering with CUAC,[…]
The Power of Rapid Decisions in Indirect Lending: Leveraging Technology for Success
By: Cliff Campbell July 2023 The need for rapid decisions has become a crucial trend in indirect lending within today’s highly competitive market. Dealers and lenders alike must be able to close deals swiftly to gain an edge over their competitors. Speedy decisions enhance the customer experience, drive sales, and reduce costs for lenders. Next,[…]
Unleashing the Power of Customization: Advantages of Tailored Indirect Lending Programs for Credit Unions
By: Kurt Howard June 2023 Finding the ideal lending solution is complex, especially in the rapidly evolving landscape of credit unions. Recognizing the significance of customization, credit unions are increasingly embracing tailored indirect lending programs. This article delves into the benefits of customizing such programs, empowering credit unions to achieve their lending goals efficiently. Enhanced[…]
Leveraging Data and Reporting Tools for a Successful Indirect Lending Program
By: Vicky Kinsey June 2023 In the fast-paced world of finance, staying on top of data and utilizing robust reporting tools is crucial for running a successful indirect lending program. With the advent of advanced technologies, credit unions now have access to powerful solutions that provide real-time data analysis and comprehensive reporting capabilities. One such[…]
Harnessing the Power of Technology in Indirect Lending
By: Taya Parish May 2023 In the ever-evolving landscape of financial services, credit unions are increasingly turning to innovative solutions to meet the needs of their members. Indirect lending, a popular approach that enables credit unions to extend loans through third-party intermediaries, has become a strategic avenue for growth. By harnessing the power of technology,[…]
The Importance of Implementing a Responsible Indirect Lending Program
By: Lizzy Mayers April 2023 Credit unions are well-known for providing exceptional financial services to their members, including loans at competitive rates. However, credit unions can enhance their loan portfolio and revenue growth by adopting an indirect lending program. Indirect lending is a proven method that enables credit unions to expand their reach and improve[…]