Today's lending environment is unique, with rates rising more quickly than many of us have experienced in our careers and inflation at 40-year highs. At the same time, longer-term trends such as automation and artificial intelligence are helping lenders use technology to make better credit decisions more efficiently. This specific moment in time presents both challenges and opportunities for credit union leaders and the members they serve.

A Full Throttle Challenge

One of the common challenges we've seen since COVID began is institutions opening all their lending valves and waiting for production. For much of the past two years, liquidity has been high across the industry and consumer borrowing was down. This caused many credit unions to chase consumer loans, and subsequently loan yields, down to the floor.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.