Throughout the worst economic crisis since the Great Depression, a time when many consumers were struggling financially, credit unions provided much-needed financial services to their members.
Implementing new branch technologies, such as in-branch iPads for forms and signatures, could soon be a leading strategy for community banks looking to improve their commercial lending lines of business.
Greater financial education, a greater variety of loan products and different lending strategies have all been techniques credit unions have begun to use to help borrowers meet more stringent housing finance requirements, according to executives from credit unions and mortgage CUSOs.
A new Aite Group report says 39% of community banks say they’re “likely” or “extremely likely” to invest in new branch technologies.
Short-term loans are in demand. According to a recent Wall Street Journal report, payday lender and pawn shop share prices jumped in October. Some credit unions are taking this opportunity to provide similar products, but at a lower cost and with a different philosophy in mind. While payday lenders encourage...
Bank Transfer Day was lauded for helping to nudge consumers toward credit unions. It was belittled as mere media hype. It was feared it would only bring in deposits and not loans, which would tip delicately balanced capital ratios.
While launching and managing a collections program for any type of loan can be a challenge, some credit unions, regardless of size, may view outsourcing as a viable and efficient solution.
"Switch kits" get a workout as disaffected bank customers move on in, many from Bank of America.
With consumers disgruntled about bank fees on debit cards, there has never been a better time for credit unions to showcase their difference with a big splash on International Credit Union Day.
Community banks are ready to benefit from "consumer choice," trade groups say.