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Getting members gained through indirect lending to become full members or multiproduct members has always been an issue of debate, but according to Brett Christensen, owner of CU Lending Advice LLC, the indirect lending business model as a whole is a failed model.

“I tried my hardest for 18 years to keep an open mind about indirect lending, and my mind isn’t open anymore. In my opinion, it’s a failed business model, but some of the biggest credit unions will deny it until the end,” Christensen said. He went on to describe indirect lending as a “partnership with the devil.”

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