FARMINGTON HILLS, Mich.–U.S. military veterans are a good bet on a small business loan, contends one credit union that plans introduce a formal affinity program to serve vets, which includes relaxed business lending standards for armed services entrepreneurs.
ORLANDO—The “credit card management hiatus”—which is what one panel of portfolio managers called the last seven years during which financial institutions have not had to regularly scrutinize their portfolios—is now over, thanks to the rising-rate environment.
SAN DIEGO—As Earth Day arrives, credit unions have many initiatives underway that not only give back to the environment but also to the CU as well—including one solar loan program generating $4 million-$5 million a month in new balances that to date has seen zero delinquencies.
ORLANDO—Mobile payments adoption has gone slower than many expected, and a big reason is that digital wallets are not yet addressing a consumer pain point.
MECHANICSBURG, Penn.—Members 1st FCU here saw a doubling of the number of new members it typically signs up after many consumer became “fed up” with a local bank’s merger.
DALLAS—As the terms on auto loans reach record lengths, the result is often greater negative equity in vehicles, and that could mean problems for both borrowers and lenders in the years ahead, analysts are warning.
DALLAS—Just six years after the Great Recession, are borrowers and lenders forgetting the (very recent) past?
AUSTIN, Texas—The $29-million Travis County CU increased its loan portfolio by 51% over the last five years and boosted assets by $6 million, thanks to a little sacrifice and a plan.
SAN ANTONIO—Bill pay solutions, often considered a commodity by FIs, may just be the avenue through which fintechs steal a significant amount of business from banks and credit unions.
BROWNSTOWN, Mich.–A new sales incentive structure that involves most of the credit union—including the collections team—is being credited for driving a 26.5% increase in lending at Advantage One FCU.
