Building loan diversification, preparing for regulatory changes and implementing new operational efficiencies are three of the largest trends industry experts expect will create new opportunities and challenges for credit unions throughout 2016.
Ted Bilke, president of core platforms provider Symitar in San Diego, Calif.; Pam Easley, president/CEO of business lending partner Extensia Financial LLC in Northridge, Calif. and Ryal Tayloe, vice president of credit unions at cloud-based solutions provider nCino in Wilmington, N.C., offered insights about what these trends mean for credit unions that are already competing or are planning to serve the member business loan market this year.
More credit unions will focus on loan diversification strategies by entering the member business loan market or getting involved with some aspect of MBL through loan participations, Tayloe noted.
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