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Forum Credit Union’s Ben Wire on Lending’s Competitive Landscape

Credit unions have been increasing their share of the auto loan business. The financial organizations controlled 21.3% of the market at midyear 2018, compared with 20.3% at midyear 2017, according to Experian. But, like other lending institutions, past performance is no guarantee of continued success. Ben Wire, Forum Credit Union’s dealer division manager, recently spoke […]

BECU Automates Decisioning to Offset Origination Decline

With volume slipping and interest rates on the rise, Boeing Employees Credit Union has worked to manage loan pricing and strengthen underwriting guidelines this year, Randy Schultz, the credit union’s senior product strategy manager for consumer loans, told AFN via email. For instance, BECU is in the process of implementing a customized scoring system to […]

2019 Crystal Ball: Competition, Direct Lending, and Customer Experience

According to the Credit Union National Association (CUNA), “69% of credit union auto loans originate through the indirect channel, and only 5% of those indirect members use additional credit union products.” Once the indirect loan has been paid off, it is challenging for the lender to extend the customer relationship. Any future engagement is with […]

Going Direct May Mean More Competition for Lenders

According to CUNA, “69% of credit union auto loans originate through the indirect channel, and only 5% of those indirect members use additional credit union products.” Once the indirect loan has been paid off, it is very difficult for the lender to extend the customer relationship. Any future engagement is with the dealer for service […]