Posts by Web Finance Direct
3 Software Options for Credit Unions That Can Boost Member Retention
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…
Read MoreWeb Finance Direct’s Top 8 Benefits of 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…
Read MoreIndirect Lending for Credit Unions: Our Guide to Vendor Due Diligence
If there’s one thing that remains true, it’s that our financial landscape is constantly evolving. Through this, indirect lending for credit unions and banks has emerged as a critical strategy. This form of lending can allow banks and credit unions to expand their lending portfolio and match with more borrowers over time. So, what are…
Read MoreWhy Vendor Due Diligence is Crucial for Credit Unions and Banks
For banks and credit unions alike, the increasingly interconnected landscape of the lending sector can come with its challenges. With the threats of ransomware, auto loan fraud, and more on the rise, it is crucial for lenders to fortify their operations, ensuring seamless processes and aligning with applicants with proven credit scores. One way to…
Read MoreFive Key Steps to Start Your Own Indirect Lending Program
For lenders like credit unions and banks, a well-run indirect lending program can make a major difference in their ability to connect with qualified applicants. It is one of the best lending solutions for credit unions and banks alike. Compared to direct lending, where borrowers go directly to their bank or credit union to receive…
Read MoreIntroducing the New Web Finance Direct Dealership Platform and Customer Mobile App
At Web Finance Direct, we are continually updating and optimizing our processes to ensure that dealers, applicants, and lenders alike have the best financing experiences possible. With that, we are proud to announce the launch of our new dealership platform and mobile app! This makes the loan application and financing process simple for dealers and…
Read MoreIndependent Dealers Looking for Indirect Lending: Start Here
Does your independent dealership offer indirect lending to your customers? The contemporary market thrives on fast, convenient solutions, and in the realm of vehicle purchases, flexible financing is no exception. According to a 2023 report from MIT, there are over one hundred million auto loans currently in the U.S., with a combined value of roughly…
Read MoreHow Your Credit Union Can Drive Membership and Boost Loan Portfolio Diversity
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 plan in place for how to connect with the right loan applicants in your desired industries can go a long way. Credit union membership…
Read MoreThe Web Finance Direct Guide to Indirect Lending
Throughout the American economy, financing continues to play a major role. For many consumers, the ability to borrow money to pay for their purchases over time gives them the flexibility they need, especially when it comes to more expensive, big-ticket items like cars, RVs, and boats. Take the RV industry, for example. As of 2021,…
Read MoreWhere is the RV Market Headed? 5 Trends for Lenders to Keep an Eye on in 2023
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 2021, the RV market was valued at close to $34 billion—and this number…
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