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[…]
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[…]
PrimeTrust Federal Credit Union Achieves Record Auto Loan Volume and Membership Growth through CUAC Partnership
By: Vicky Kinsey April 2023 In September 2021, PrimeTrust Federal Credit Union joined the CUAC Program to enhance its auto loan portfolio. At the time, the credit union’s portfolio consisted of indirect lending, commercial participation, and organic direct loans. Despite having an indirect lending program, PrimeTrust FCU was not achieving the loan numbers or membership[…]
Avanti Federal Credit Union Benefits From CUAC’s Indirect Lending Solutions
By: Vicky Kinsey Early in 2022, Avanti Federal Credit Union was looking at excess liquidity and a lack of auto loans. At the time, they did not have an indirect lending product in place and wanted to look for a partner that would fit their individual needs. The credit union hired a consultant that quickly[…]
Is your current indirect lending provider delivering what they promised?
By: Lizzy Mayers Prior to joining the CUAC program, Campus Federal® partnered with a third-party provider to originate auto loans. The main challenge the credit union faced was the level of auto loans was below where it needed to be in order to successfully diversify their loan portfolio. It was clear their vendor could not[…]