AUSTIN, Texas–State regulators are turning a watchful eye on indirect lending at credit unions, where volume growth remains on the accelerator, with special attention on CUs moving into the channel for the first time.
SCOTTSDALE, Ariz.—The need to partner with fintechs is being recognized by more financial institutions, but one expert insists that organizations should not rush to a decision, and instead step back and make some important strategic decisions first.
NEW YORK—General Motors’ plans to close seven factories worldwide by the end of next year is not a sign lenders need to begin giving serious thought to shifting portfolios away from good-old-fashioned auto loans toward financing solutions for car subscription services or monthly expenses for self-driving car rides. Instead, it’s a sign of something else, say the experts.
ONTARIO, Calif.—The used car market is a “goldmine” now for credit unions, according to one analyst who is encouraging CUs to strengthen their relationships with dealerships to help them move a growing inventory of used cars off their lots.
DENTON, Texas—One small credit union believes too many within the movement are “running away” from one of its biggest problems—the plight of small CUs—and instead it is running “towards” it.
SAN FRANCISCO–A new fintech that had more than 160,000 people on its waiting list has officially launched and now has a new challenge–it has to deliver. But whether it succeeds or not, what the company offers credit unions is fresh insights into what type of offerings appeal to younger consumers.
MOUNTAIN HOME, Idaho—Loan specials, especially for autos, are leading the way among the Black Friday deals being dangled in front of CU members this year.
RANCHO CUCAMONGA, Calif.—Is there a big advantage in pulling out a phone to pay at the point of sale over pulling out plastic? Soon, there could be.
ST. PETERSBURG, Fla.—As credit unions focus on locking down user identities with more sophisticated solutions to protect their systems, such as biometrics, are they overlooking another avenue for crooks to gain access to their networks?
ARLINGTON, Va.—Rising interest rates may have finally taken their toll on the optimism of credit union CEOs when it comes to lending.