TORONTO, Canada—Some “spit and polish,” strong new extended warranties, and automaker and dealer “creativity” should mean used values will remain elevated for some time, according to one analyst.
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PHILADELPHIA—Credit unions need to “face the facts” that car loans are just not being originated like they once were at the branch, and that they are also losing out in the “trust” game to fintechs when it comes to auto loans, according to one automobile industry analyst.
WASHINGTON—The CFPB’s lawsuit against TransUnion should be a “wake-up call” for credit unions to pay even closer attention to their vendor relationships, according to Geoff Bacino.
ALPHARETTA, Ga.–Could the current rising interest rate environment—combined with the new emphasis on digital banking—pose a threat to credit unions similar to one of the market conditions that helped to bring down the savings and loan industry?
TAMPA, Fla.—After slowing during 2020 due to the pandemic, overall growth among credit unions rebounded in 2021 and 2022 could be even better, especially for CUs that focus on checking and credit cards, according to one person.
ST. PETERSBURG, Fla.—Credit unions have been slipping in terms of consumer perceptions of service, and one problem is they are often doing too much when it comes to interfacing electronically with members.
ARLINGTON, Va.—Employees at many credit unions across the country have now been returning to the office for at least a few days a week, but one attorney is cautioning that if credit unions don’t recognize the existence of a “new type of employee” and a new work environment, their risk of being named in a lawsuit will likely rise.
TEXAS CITY, Texas—With increasing regulator scrutiny of vendor management and increased cyber security concerns related to potential attacks from Russia, one credit union says consolidating a number of its vendors with one company has helped it save time, money—and mounting headaches.
LAKE FOREST, Ill.—As credit unions stress to Washington that fairly priced overdrafts are needed by members, one person is questioning whether CUs have made it clear they have been steadily dropping their fees over the last 15 years.
CHARLOTTE, N.C.—What credit unions are doing for small banks looking to sell is stabilizing the price floor, according to one M&A expert whose firm has worked with more than 20 banks that have been purchased by credit unions.