Growing Your Direct Auto Loan Portfolio with Loanify

How many direct auto loans do you preapprove for members? Yet, how many end up with dealer financing?

Dealer financing is rarely the member’s best option. Financing is where the profit is, and you don’t want to lose it to used car dealerships.

So, let’s dig into a new CUSO, Loanify, to see how they help credit unions grow their loan portfolios… and help members get better deals on their cars.

Continue reading “Growing Your Direct Auto Loan Portfolio with Loanify”

Mobile Payments and 2022: 4 Things to Consider

Digital transformation was a buzzword and a growing trend in 2019. In 2021, it’s necessary for survival. And while we may be tempted to say, “what a difference a year makes,” even 2020 can’t be blamed entirely for the massive shift in consumer behavior that had already taken root.

At this point, the majority of your members currently use their mobile devices to complete financial transactions. The vast majority of younger consumers use mobile payments.

For a long time, this trend was convenience driven. Now, it is expected and an operational imperative. Here’s what that means for credit unions (and what should be on your radar). Continue reading “Mobile Payments and 2022: 4 Things to Consider”