Have you heard of the Dunning-Kruger Effect? It describes a tendency for people to misevaluate their own knowledge or competence on a subject. Experts underestimate themselves—and for laypersons to assume they know way more than they do.
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.
Like most Americans, I use rewards cards almost exclusively. Whether cash back, travel perks, or discounts at national and local businesses, I some of the money I spend to come right back to me.
When someone doesn’t have the money to pay a bill, the last thing they want is to fend off phone calls from collectors. In fact, those calls aren’t often all that effective.
Don’t work at a credit union, but like what you see? Head to UNest to open an investment account for your kids today!
Most of my friends and I are so close to 40 that it looks blurry now. Most of us have kids (I don’t) and multiple app-based investment accounts (I do). Naturally, there’s a growing demand in this demographic for investment apps for kids.
Credit unions, take note!
Offering app-based financial wellness and investing accounts for kids is a member need… in a market segment credit unions typically fail to attract (Millennials and older Gen Zers).