WASHINGTON–CU Direct has introduced an exclusive, new Indirect Lending Benchmark Report to its participating credit union partners.
Calling it the first industry report of its kind, CU Direct said the report gives credit unions a dynamic perspective on indirect lending application trends on a national, state and peer level.
According to CU Direct, the report provides effective and accurate performance measures for credit unions in a number of key areas, including:
- Book-to-Look Ratio
- Book-to-Approved Ratio
- Origination Metrics and Average Annual Percentage Rate (APR)
- Funding Trends
“There is no other organization in the country that has been able to collect as much credit union application performance data as CU Direct,” said Michael Cochrum, executive lending advisor at CU Direct. “For the first time, with this report, credit unions will be able to gauge their independent performance on a very granular level, to better understand how to improve their lending programs.”
Credit unions interested in learning more about CU Direct’s Advisory Services Indirect Lending Benchmark Report can contact Michael Cochrum at michael.cochrum@cudirect.com.