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Low consumer confidence a top concern for credit unions

The Consumer Confidence Index fell to 121.5 in June — the lowest level since September 2017 — and lenders are bracing for impact. In a June 25 LinkedIn post, credit union executives took to social media to share concerns for the impact declining consumer confidence will have on growing, or sustaining, loan portfolios. Adam Ennett, […]

CU Direct’s Innovation Lab Spurs Digital, Automated Initiatives

CU Direct’s Innovation Lab is plugging away on two projects – a consumer portal and an automated loan package verification solution – slated to launch by yearend, Brian Hamilton, vice president of innovation, told Auto Finance News. The loan package verifier, which is powered by machine learning, will speed funding time between credit unions and […]

Credit Unions Curb Financing for Independent Dealers

With credit unions slowing the pace of originations, about 30% of the independent dealers on CU Direct Lending’s platform pulled out last year, CUDL President and Chief Executive Tony Boutelle told Auto Finance News. "We’ve seen probably 1,000 independent dealers come off our program [in 2018] because our credit unions stopped doing financing for them," […]