Student loan debt is overwhelming

Student loans are crucial for making credit unions relevant to young people

Student loans continue to plague our youngest generations. This debt is keeping us from buying cars, buying houses, having kids, and generally moving on with our lives. Need proof? When the U.S. Department of Education offered to freeze student loan payments during the COVID-19 pandemic borrowers collectively agreed wholeheartedly. So much so that more than…

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Oddballs are everywhere

Why you should offer Loans for Oddballs

Loan season is right around the corner, i.e., your credit union’s bread and butter. So if you haven’t already started working on your spring and summer auto, boat, home equity and mortgage loan campaigns, then you better get in gear. If you can get excited about one more loan campaign, that is.* I mean, I…

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ICYMI: In Case You Missed It

In case you missed it (v13)

Green loans and the potential harm of AI decisions. Faux holidays and the end of the 40-hour work week. Here are the items that caught our eye, in case you missed it: Not Just a Nerd Fight Timnit Gebru is an AI researcher delving into the issue of the harm AI can do to marginalized…

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ICYMI: In case you missed it

In case you missed it (Vol 7)

RTO Mortgages, UPLs, AIO for EVs, and the beginning of the end of NSF fees? ICYMI is our way of sharing “Did you see this?!” news and tidbits, just in case you missed it. (And yes, we do try to spell out the acronyms.) Branches still matter Alaska USA FCU’s new branch is in North…

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Lazy marketing for recreation loans tends to lump everything together

Boats Aren’t Motorcycles

As a marketer, you can slap an image of a car or a house on your ad for an auto loan or a home loan and most people will get it. But what if you want to offer loans for boats, RVs, ATVs and UTVs, electric bikes, snowmobiles or jet skis? And what do you…

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“We’re just here for the low rate, thanks.”

Indirect auto loans need CU marketing love, too

Indirect auto loans are a sticky issue at a lot of credit unions. Folks you might not ever see in person get their car loan, pay it off in a few years, and then leave without opening a checking account, a credit card, or even stopping by a branch to try your custom roasted coffee.…

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It's about changing your process, not buying expensive new technology.

The car loan we didn’t get at our credit union

Deposits are climbing and credit unions need to make loans. Mortgages are in high demand, but you need consumer lending to stay in balance. And that means car loans. New, and (mostly) used car loans. So why are credit unions, even large CUs, still throwing away so many car loans? Here’s my real-world, real-life, 100%…

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The biggest risks in lending aren't defaults - they're the loans you lose to competitors.

Three ways credit unions can boost loans in weird times

Everything is downside-up and frontwards-back right now, and probably will be for a while. Still, life goes on for your members and CU marketers need to do their part to keep interest income flowing and make sure the lights stay on. And what we’re hearing from our credit union clients lately is loud and clear:…

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Are you ready to electrify your car loans?

Are you ready to electrify your car loans?

Car loans are every CU’s bread and butter, but the recipe is changing. Any way you slice it, we’re going to see more and more electric cars on the road. Are you ready to electrify your car loans to match? Electric vehicles (EVs) are going to drastically change the car market Last week, Tesla delivered…

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Think Beyond The Rate

Bread and butter car loans don’t have to be boring

Here’s a product idea for car loans I’ve had kicking around my head for years. It’s yours, free of charge. (Of course we’d certainly love to help with marketing strategy and creative.) The plain old car loan is every credit union’s bread and butter. It’s also kind of boring. No wonder your members look at your…

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