By: Taya Parish In the ever-evolving landscape of financial services, credit unions are increasingly turning to innovative solutions to meet the needs of their members. Indirect lending, a popular approach that enables credit unions to extend loans through third-party intermediaries, has become a strategic avenue for growth. By harnessing the power of technology, credit unions […]
Tag: indirect lending
A 25-Year Journey of Growth and Empowering Credit Unions
By: Vicky Kinsey CU Alliance (CUA), formed as Credit Union Acceptance Company (CUAC), is a credit union service organization (CUSO) that has been serving credit unions for 25 years. We reflect on our journey and accomplishments as we celebrate this significant milestone. From our early days as a small start-up to our status as a […]
The Importance of Implementing a Responsible Indirect Lending Program
By: Lizzy Mayers Credit unions are well-known for providing exceptional financial services to their members, including loans at competitive rates. However, credit unions can enhance their loan portfolio and revenue growth by adopting an indirect lending program. Indirect lending is a proven method that enables credit unions to expand their reach and improve the member […]
PrimeTrust Federal Credit Union Achieves Record Auto Loan Volume and Membership Growth through CUAC Partnership
By: Vicky Kinsey In September 2021, PrimeTrust Federal Credit Union joined the CUAC Program to enhance its auto loan portfolio. At the time, the credit union’s portfolio consisted of indirect lending, commercial participation, and organic direct loans. Despite having an indirect lending program, PrimeTrust FCU was not achieving the loan numbers or membership growth it anticipated. As […]
BRECO FCU Sees Nice Boost to their Loan Volume With CUAC
Prior to partnering with CUAC, BRECO Federal Credit Union was solely reliant on direct auto loans and using social media & newsletters to promote auto lending to their members. Although they were offering electronic signatures on loan documents, members were still signing with other lenders at the dealership due to the convenience factor. As a […]
Cherokee Strip CU is a Model for Smaller Credit Unions Indirect Lending Program
June 1, 2022 Vicky Kinsey, VP of Marketing Cherokee Strip CU set out to look for a partner to help them set up an indirect auto lending program for their credit union. Their goals were simple: Reach a wider membership, make it easier for members to obtain car loans and be available outside of working hours […]
Citizens Federal Credit Union Enjoys Indirect Success Through CUAC
April 15, 2022 Vicky Kinsey, VP of Marketing Citizens Federal Credit Union (CFCU) joined CUAC in June of 2018 as the first credit union in the West Texas Market. At the time, CFCU was looking for a partner to help them grow their auto lending program. After an extensive search, the choice was clear – CUAC was the partner […]
ProFed Federal CU Sees Great Loan Growth Through Responsible Indirect Lending Program
March 21, 2022by Luke Prather, CU Alliance CUSO Like many lending institutions, ProFed Federal Credit Union in Fort Wayne, Indiana was looking for ways to move excess funds to higher yielding instruments as the economy gained some life in 2017. Indirect lending was one pursuit. Both the CEO and CLO had experience with successful indirect auto programs in past lives […]
Alabama CU Services Adds Greater Value to Its Indirect Program by Partnering with CUAC
February 10, 2022by Vicky Kinsey, Vice President of Marketing, CU Alliance CUSO Alabama CU Services, a CUSO based in Tuscaloosa, AL, operates a very successful indirect program in over a dozen states and provides auto, power‐sports, and tractor lending. Historically, Alabama CU Services provided indirect services only to Alabama Credit Union. However, ACUSI saw how smaller […]