Building 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…

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How 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…

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Why Credit Unions Should Prioritize Credit Risk Management to Stay Ahead

credit risk management

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…

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Loan Processing: What It Looks Like for Dealers & Lenders

Purchasing a car

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…

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How 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…

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5 Ideas for Driving Credit Union Membership in 2024

CU membership drive ideas

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…

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Where 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…

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How Your Credit Union Can Drive Membership With the Right Business Plan

Credit Union Membership

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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3 Software Options for Credit Unions That Can Boost Member Retention

credit union software

If there’s one thing we can say for certain as 2023 comes to a close, it’s that software is as vital as ever for credit unions and banks. In today’s fast-paced, technology-driven world, members have come to expect seamless, secure, and convenient access to their financial services. Without going the extra mile to offer the…

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Web Finance Direct’s Top 8 Benefits of Indirect Lending

auto indirect lending

Indirect lending. Whether you’re a dealership in the auto, RV, marine, and powersport industries, a credit union looking to get into credit union indirect lending, or a bank looking to expand your loan portfolio, this lending method can enhance your core offerings. Fueled by customer desires for speed and efficiency when making larger purchases, indirect…

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