For some credit unions, the recipe for high auto loan volumes is a mix of strong relationships with dealers, fast response times and a dedicated staff.
Depending on who you talk to, the credit union business lending landscape could easily be a mix of record loan growth peppered with a drop in delinquent debt to an environment that is thriving better than what bank competitors are experiencing.
Pent-up consumer demand and favorable rates helped Fiserv Inc. process more than 10.8 million loan applications in 2012, the company said this week.
The Fort Worth, Texas-based EECU said it surpassed the $1 billion mark in loans at the end of 2012.
When it comes to underwriting consumer loans, some community development credit unions have found success by looking at other factors besides credit scores.
About 18 months ago, Steve Hoke and his team were discussing how indirect lending could potentially be a better process for credit unions and give members usable information that would actually result in driving that coveted vehicle off the dealership’s lot.
Borrowers and lenders of loans backed by the SBA will have greater access to capital and less paperwork to deal with.
William Bynum, CEO of the 28,000 member, $161 million Hope Federal Credit Union, believes the Jackson, Miss.-based credit union’s new mobile app is the first step in what he and the credit union foresee as an effort to make widespread banking and financial management solutions available to lower income people...
Mobile phones are more than just phones. They have become indispensable portable computers, helping manage our personal lives, connecting us at all times to the office and bringing us the information we want, when we want it at the speed of light.
Patricia Piscioneri, a former credit union manager, may face up to 30 years in federal prison, after pleading guilty to embezzling $156,571 from the former Adams Municipal Employees Federal Credit Union in Adams, Mass.