CU Direct Creates Loan Management Academy
More than 50 credit union executives turned out for CU Direct’s new venture to help with loan portfolio management.
The Ontario, Calif.-based lending and automotive services CUSO rolled out its Lending Analytics & Portfolio Management Academy in June, the company said July 31.
The academy offers an educational program that performs a drill-down on a range of topics from data management strategies, regulatory and risk management challenges, and analysis of key metrics, to multi-dimensional portfolio risk analysis, and an introduction to risk attributes and dimensions, according to CU Direct.
In June, credit union professionals attended the academy’s initial educational sessions held in Boston, Dallas, and in Ontario, CU Direct’s home base.
For decades, credit unions have been collecting critical application and performance data in order to originate loans and manage portfolio profitability, said Michael Cochrum, CU Direct’s senior director of analytics and advisory services.
“However, what has not been easy is storing that data in accessible formats, successfully managing that data so it is available for regular and comprehensive analysis and, most importantly, using that data to drive better, faster decisions,” Cochrum noted.
Jennifer Grant, credit risk analyst at the $590 million Rivermark Community Credit Union in Beaverton, Ore., said considering the regulatory emphasis, economic pressures and organization strategies, there is a great need for the specialized training.
“It was challenging to find educational resources that offered expert insight and training on portfolio, data, and risk management,” she said. “CU Direct’s lending academy provided valuable training that addressed these areas.”
CU Direct said the academy will be holding its next sessions in October.