Citadel’s auto lending revenue jumps 14% after switching point-of-purchase providers.

THE CHALLENGE:
Reduce expenses and grow auto lending portfolio.
Citadel operated a point-of-purchase lending CUSO for nearly thirteen years. After closing the CUSO, Citadel was challenged to make its auto lending program more profitable. It had been using DealerTrack as its indirect lending provider and accrued $30,000 in monthly expenses from application fees, dealer “shotgunning” and paper that did not meet the credit union’s lending criteria. Furthermore, only 23% of the indirect loan applications received was actually funded. Citadel needed a solution that would cost less and allow the credit union to set forth tighter lending parameters for its dealers. During its pursuit to find a solution that would accomplish these goals, the credit union was also seeking solutions that would provide more auto buying services for its members to expand their auto loan portfolio. more ›

Digital FCU has become more profitable since implementing Decision Manager.

THE CHALLENGE:
Increase underwriting efficiency and compliance.
DCU determined that its automated underwriting process was substandard and antiquated. Senior level loan officers were reviewing every single application, making it difficult to provide consistent loan decisions. Subsequently, approvals were slow, even for standout members with top-tier credit. more ›

Credit Union improves profitability and mitigates losses while enhancing overall portfolio performance with Lending Insights.

THE CHALLENGE:
Monitor loan performance over time to measure delinquency and loss ratios.
Schools Financial Credit Unions’ loan portfolio was experiencing rapidly rising delinquency and loss. The credit union needed to be able to identify from which areas of their portfolio they were coming from and why they were occurring. However, the tools they were using were inadequate in revealing the issues. Additionally, Schools Financial CU knew that continued loan growth was important, but found it difficult to determine which portfolio segments presented the best opportunities. more ›