HELOCs: A Powerful Cross-Sell Opportunity for Savvy Credit Unions

By Preston Packer |

May

30

Credit unions are constantly striving to enhance their services for the benefit of their members. One valuable tool in their arsenal is the home equity line of credit (HELOC).

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Maximizing Opportunities: The Importance of Cross Selling in Credit Unions

By Preston Packer |

May

18

Cross-selling for credit unions is almost a time-honored tradition at this point. It's a way to help offer value to members, especially in regard to products and services that they may not have even realized were available.

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Leveraging Data Analytics In Lending

By Preston Packer |

Aug

24

The cold, hard truth is lending isn't what it used to be. Everything has changed in recent years, forcing lending institutions to change too. As rates continue to increase and the financial landscape keeps evolving, credit unions must acquire new lending strategies to remain competitive in the industry. So, how should CUs adapt to these rapid changes? One of the most critical things you can do is take advantage of data analytics, which can help identify and target the right individuals based on a number of factors, from behavior and demographics to specific life events. In this article, we'll outline what's currently trending in the market and how your credit union can effectively harness the power of data analytics to benefit your members and bottom line.

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Best Practices in Appraisals and Mortgage Solutions for Credit Unions

By Preston Packer |

Sep

30

There is no doubt that major shifts have taken place in the mortgage market over the past couple of years. An increase in competition and the transformation to digital mortgage lending solutions have had a huge effect on how credit unions and other institutions that depend on mortgage lending do business.

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Enhancing the Home Buying Experience for Credit Union Members

By Preston Packer |

Sep

28

Competition is high when it comes to purchasing a home. Prices have increased due to the pandemic, making it a seller’s market. An increase in demand and a decrease in inventory means buyers have to act fast. Multi-offer scenarios and bidding wars have become the norm. Buyers watch prices rise and see their offers rejected. Credit unions must find ways to pave an easier path for home purchasing members. One solution is transforming the home buying experience with best-in-class technology.

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Improving Digital Mortgage Lending for Credit Unions

By Preston Packer |

Sep

16

With the lowest mortgage rates in years, it’s no surprise that mortgage originations and refinancings are soaring around the nation. This is good news for credit unions. However, advancement in digital technologies and the rise of fintech companies into the lending space also means that the competition in the mortgage lending market is as tough as ever.

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Seamless and Branded Home Lending Experience for Credit Unions

By Preston Packer |

Sep

14

Credit unions know their members--all 125 million of them and counting--better than anyone, and the right analytical tools and market intelligence can help your credit union gain market share in a competitive mortgage environment. It is always a good time for CUs to expand their offerings and use technology to streamline the process.

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A Mortgage Servicing Model for Credit Unions

By Preston Packer |

Sep

10

Although credit unions in the U.S. hold a small share of the total mortgage volume, mortgage lending is an important part of doing business for credit unions of all sizes. Since the pandemic and the lowering of interest rates has no doubt put a squeeze on the mortgage lending business and made it more competitive, credit unions that wish to thrive in this environment must leverage their digital technologies, data, and member services to attract new members, generate loans and continue their growth.

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Helping Homebuyers Become Homeowners with Your Credit Union

By Preston Packer |

Sep

02

With a booming housing market and the challenges facing credit unions to keep up, simplifying the home buying process is critical to delivering outstanding member service and growing the loan origination business for your credit union.

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Leveraging Technology to Streamline Your Workflow

By Preston Packer |

Sep

11

In this digitally competitive day and age, where everyone wants and expects an answer “yesterday,” being efficient is imperative. The mortgage market in particular has grown more and more crowded as home prices soar and interest rates continue to decline. In fact, Interest rates have been dropping since late 2018, recently dipping below 4% in June for a 30-year mortgage, the lowest in about two years. Leveraging your credit union's technology to streamline the loan decision-making process can reduce the turn-around time for the member's application, provide members answers quickly, and potentially be the difference in whether a new loan closes with your credit union or at another financial institution.

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