Posts by Web Finance Direct
3 Software Options for Credit Unions That Can Boost Member Retention
In today’s fast-paced, technology-driven world, members have come to expect seamless, secure, and convenient access to their financial services, which means that using the best available credit union accounting software is more vital than ever. Without going the extra mile to offer the right software to your members, your retention may suffer. Implementing and maintaining…
Read MoreConsumer Financing Options: Growing Your Client Base and Increasing Sales
There was a time when consumer financing programs were solely reserved for mortgages, auto dealers, and big box retailers. Now a wide variety of small businesses, online retailers, B2B operations, medical practices, and more are using consumer financing to drive sales and grow their client base. What Are Consumer Financing Programs? Most consumers are used…
Read MoreBuilding Your Loan Portfolio: How Indirect Lending Can Play a Key Factor
The ever-changing lending environment presents significant challenges to banks and credit unions. When establishing and managing your vehicle loan portfolio, it is critical to diversify your lending options so you can increase your bottom line and improve your client retention and relationships. One way to accomplish this is through indirect lending. Indirect auto loans help…
Read MoreHow Indirect Lending Improves Client Retention for Banks
Customer retention strategies in the banking industry are an extremely important metric for credit unions and banks as they track their lending efforts and seek to stay relevant for current and future customers. In addition to individual customers seeking financing, the United States is home to over 33 million small businesses, many of which are…
Read MoreWhy Credit Unions Should Prioritize Credit Risk Management to Stay Ahead
Credit risk management is critical for both banks and credit unions aiming to maintain compliance, safeguard their financial stability, and stay ahead of their competition over the long run. Not only do banks and credit unions have to navigate the complex landscape of government regulations, but they also need to ensure applicants will be able…
Read MoreLoan Processing: What It Looks Like for Dealers & Lenders
Loan Processing: What It Looks Like for Dealers & Lenders As any loan processor can tell you, loan processing is a relatively complex and thorough process, especially when it comes to processing loans for titled assets such as cars. Whether the borrower is looking for a car loan with a bank or dealer or considering…
Read MoreHow Digital Transformation In Banking is Redefining the Financial Services World
Leveraging digital transformations is extremely important for digital banking in 2024, and the ever-increasing pressure to follow digital banking trends is being felt across the industry. From apps to indirect lending on online splurges, the American (and global) consumer base enjoys a wide range of options to customize their financial experiences. Banks and credit unions…
Read More5 Ideas for Driving Credit Union Membership in 2024
For credit unions, members are everything. From reduced risk exposure to an expanded impact on the community, the more diverse a credit union’s customer base is, the better its ability to see increased deposits and offer more loans will become. As a result, it’s important to make sure your credit union is striving for new…
Read MoreWhere is the RV Market Headed? 5 Trends for Lenders to Keep an Eye on in 2024
The North American RV market is constantly evolving. Driven by changing consumer preferences, a shift towards remote work, and a renewed interest in domestic travel, the recreational vehicle industry presents banks and credit unions with a unique opportunity for lending. As of 2024, the North American Recreational Vehicle Market is estimated at $19.83 billion. The…
Read MoreHow Your Credit Union Can Drive Membership With the Right Business Plan
If boosting membership and loan growth is on your agenda for 2023 and beyond, it is important to factor in the right strategic planning for your credit union. Having a set credit union business plan in place for how to connect with the right loan applicants in your desired industries can go a long way. Credit…
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