In this episode, John Volpini, VP of Relationship Management at Sallie Mae, draws on his decades of industry experience to explain how these changes will affect the private student lending market — and how credit unions can seize the opportunity.

Key Takeaways

01:35: DOGE cuts eliminated around half of FSA's staff, leaving schools stressed and under-guided as they race to implement major loan reforms by July 1st.

05:14: Grad PLUS eliminated, Parent PLUS capped at $20K/year, and graduate loans now have hard lifetime limits — John ranks this second only to the 2010 federal takeover in significance.

08:50: Federal PLUS loans carry a 4.266% origination fee that inflates the true APR, meaning top-tier credit borrowers will frequently find private loans equal to or cheaper — something most families don't know.

15:26: The Bill cuts $8–10B in annual federal loan volume, with approximately $1.2B shifting to private lending in 2026 and growing to $5.2B over three years — capacity the market can handle.

18:01: Unlike undergrad loans (90% co-signed), John expects 60–70% of graduate private loans to be unsupported, improving approval rates as better-credit grad students enter the private market for the first time.

21:05: For the first time, Pell Grants will cover workforce and trade programs — a move John sees as positive, reinforcing his longstanding advice: free money first, federal second, private gap financing third.

Resources Mentioned:

https://www.elmresources.com/

In this episode, credit card expert David Shipper of Datos Insights takes a deep dive into the potential impact of legislative rate caps, what could happen to credit card programs, and what credit union leaders should be doing now.

Key Takeaways

02:11: David explains that the bill is extremely blunt: a flat 10% APR cap on all credit card interest, with no distinctions for cash advances, default rates, or risk tiers.

04:50: David outlines how a cap would reduce approvals, shrink credit lines, and push consumers toward worse alternatives like payday loans or BNPL.

09:38: David agrees that credit union leaders are right to be concerned: many programs could become unprofitable, leading to fewer approvals and higher fees.

11:46: Despite the risks, David argues credit unions could gain market share because their rates already average around 12–13%.

16:21: David warns that state-by-state caps would create a patchwork of rules, disadvantaging local credit unions while national banks export higher rates.

20:31: David outlines practical steps that credit unions can do now: speed up digital applications, enable instant approvals, offer digital card issuance, and reevaluate fees to ensure sustainability.

Resources Mentioned:

https://datos-insights.com/

https://www.americascreditunions.org/

In this episode the $1.8 billion credit union's president and CEO, Paul Gentile, discusses the unique relationship the credit union maintains with one of the world's largest pharmaceutical companies, and how doubling-down on Merck employees continues to deliver long-term growth.

Key Takeaways

00.48: Paul's career journey from publisher of the Credit Union Times, to leading a League, and finally running a credit union.

03.06: Why fraud is the number one issue facing credit unions in 2026.

06.29: How Merck has maintained strong relationships with its SEG and continues to grow and thrive within its closed field of membership.

10.00: Ways Paul and the Merck leadership team have positioned student lending as a market differentiator.

14.21: An overview of Merck's growth strategy, and how it's maintaining relevance with a SEG membership.

20.21: Paul shares his vision for credit unions in the next decade, particularly as it relates to Stablecoin and broader crypto technology.

Resources Mentioned:

www.merckcu.com

www.cutimes.com

Highlights:

‎00.30: Tony discusses the Genius Act, Stablecoin, and his concerns that modern financial innovations could simply bypass the credit union system.

03.36: The liquidity risks presented by the $84T generational wealth transfer if it happens within crypto or more modernized financial systems that credit unions haven't yet adopted.

05.33: Lessons learned from the latest (and longest) government shutdown, and how credit unions and any federally-employed members should prepare for the next one.

13.19: How DCUC is working to support smaller credit unions and ensure their survival, growth, and integration into the legislative conversation.

15.04: What the future holds for the credit union system and where DCUC can play a role in shaping it.

Links:

https://www.dcuc.org/

Highlights:

01.00: Tony Hernandez discusses his distinguished Air Force career and how it led him to the Defense Credit Union Council (DCUC) ... and an awkward conversation with his wife.

07.35: An overview of how DCUC has expanded its remit to be a broader, more representative voice for the credit union system as a whole.

15.33: The argument for having greater representation, and how the banking industry has proved that it works.

18.43: How DCUC collaborates with America's Credit Unions on certain advocacy efforts, but how and why it's important it remains its own authority, too.

20.00: Why DCUC has offered to foot the bill for a CFPB Credit Union Advisory Council.

Links:

https://www.dcuc.org/

Key takeaways:

03.30: Randy's vision for NACUSO to be at the center of an ecosystem where fintech, CUSOs, and credit unions can strategize together, learn from, and share with each other.

05.45: The relationship, differences, and nuances between CUSOs and non-CUSO fintech—and how they're both designed to support the credit union system.

08.17: NACUSO should focus on "surgical" advocacy and, while lending its name and weight to larger national calls, prioritize its core value proposition.

13.10: Randy's plans for the first three months of leading the organization.

17.40: How NACUSO's Reimagine event is a prime opportunity for credit unions and CUSOs alike to rediscover the value the organization offers to the system, microscopically and macroscopically.

20.53: Busting the big myths that prevent more exposure of and engagement with CUSOs.

Resources discussed:

https://nacuso.com/

https://www.reimaginenacuso.com/

Key Takeaways:

1. 01.25: An overview of why Veridian's average membership age is so much younger than their peer set.
2. 02.49: Reflections on risk management, particularly relating to ongoing loan portfolios that were inflated in the wake of the pandemic.
3. 05.25: Kara discusses how Veridian's mindset regarding fintech has evolved from viewing them purely as competitors to seeing them as critical partners.
4. 07.17: The impact of AI on Veridian's lending and underwriting processes, in the past, present, and in the future.
5. 11.10: How the credit union looks to mitigate bias in AI models and ensure inclusive lending.
6. 14.25: How Veridian has grown loans by 12% year-on-year, from $6.5 billion to $7.2 billion.
7. 18.00: Exploring Veridian's auto program and how much that has contributed to their strong loan growth.
8. 19.57: The challenges of increasing cost of funds, and how credit unions can navigate them.

Resources Mentioned:

Veridian Credit Union: www.veridiancu.org

LendKey: www.LendKey.com

Zest AI: www.zest.ai

Thanks for listening to the 22 Minutes in Lending podcast. If you enjoyed this episode, please leave a 5-star review to help get the word out about the show and be sure to subscribe so you never miss another insightful conversation.

#CreditUnions #Fintech #22MinutesInLending

Key Takeaways:

1. 01:10 – From $35 to $1.1B, TopLine’s 90-year glow-up from seven AT&T employees to 70K members.
2. 03:27 – Cutting the average member age by a decade, with education lending in the mix.
3. 04:49 – Post-conversion lines out the door prove face-to-face isn’t dead.
4. 07:44 – Where unsecured and education loans fit without blowing up balance sheet risk.
5. 10:27 – Why LendKey’s structure finally made education lending a yes.
6. 11:33 – The mindset holding credit unions back from education lending.
7. 13:26 – Federal cuts will spike private loan demand, and why credit unions can’t ignore it.
8. 16:06 – How TopLine pairs culture, brand, and a balanced product mix to stand out.
9. 18:13 – Why the tax exemption fight is always there, and the questions credit unions can ask to stay ready.
10. 19:02 – Why credit union’s need their own regulator.
11. 20:14 – TopLine’s five-year focus: more education, more counseling, more real help for members living paycheck-to-paycheck.

Resources Mentioned:

TopLine Financial Credit Union: https://www.toplinecu.com/

Member Student Lending: https://www.memberstudentlending.com/

LendKey: https://www.lendkey.com/

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#CreditUnions #Fintech #22MinutesInLending

Key Takeaways

0:44 – James shares the personal story that pushed him from underwriting billion-dollar debt at Barings to building Salus, designed to fix access to small but critical loans.

02:52 – How collaboration, community focus, and tech gaps made credit unions the perfect proving ground for Salus.

04:21 – James explains why “cash in vs. cash out” is the new king metric, and how traditional scores miss millions of good borrowers.

06:10 – How Salus cuts staff time out of microloan processing, making $500 loans make sense for credit unions.

08:25 – The ideal credit union for microloans? Those wanting to pull in Gen Z and those doubling down on community impact.

09:34 – Predictive analytics that surface member stress before they default give credit unions a shot to be proactive, not reactive.

13:41 – A peek at how transaction data separates two “identical” 620-score borrowers into wildly different risk profiles.

15:31 – How Salus slashes charge-offs from 27% to as low as 3%, giving credit unions control over their risk vs. reach.

17:52 – James explains why the play isn’t P&L—it’s the lifetime value of turning Gen Z and millennials into members for life.

19:59 – Why earned wage access is the front door to member acquisition, deposits, relationships, and sticky growth.

21:50 – Salus’ roadmap: helping members graduate from microloans to auto and mortgage loans.

Resources Mentioned:

Salus: https://www.salusfintech.com/

LendKey: https://www.lendkey.com/ 

Thanks for listening to the 22 Minutes in Lending podcast. If you enjoyed this episode, please leave a 5-star review to help get the word out about the show and be sure to subscribe so you never miss another insightful conversation.

#CreditUnions #Fintech #22MinutesInLending #Microloans #LendingInnovation

Key Takeaways

01:35 – John shares the unique story of launching Tru Treasury in March 2020, just as COVID shuttered the world overnight.

04:21 – The advantages of structuring True Treasury as a CUSO, and how collaboration with credit union CEOs shaped the model.

05:26 – Today, TruTreasury serves over 70 credit unions in different ways, from consulting to acting as a full outsourced treasury management department.

06:56 – Go behind the scenes and hear how Tru Treasury’s three platforms serve credit unions.

09:35 – How Tru Treasury steps in during acquisitions to bridge gaps in complex treasury relationships.

11:06 – What credit unions need to know about field of membership rules, the 12% cap, and opportunities for commercial lending and deposits.

13:11 – Commercial lending trends: growth in C&I and SBA lending, deposit growth, and how commercial deposits can be used to fund commercial loans.

15:34 – Untapped opportunities in municipal deposits, and why they’re a natural fit for some credit unions.

17:04 –Stablecoin, blockchain, and security innovations shaping the future of payments.

21:21 – Looking to 2030: John envisions a modular “commercial banking as a service” model that brings together lending, compliance, and treasury management for credit unions and beyond

Resources Mentioned:

Tru Treasury: https://trutreasury.com/

Leverage: https://myleverage.com

LendKey: https://www.lendkey.com/ 

Thanks for listening to the 22 Minutes in Lending podcast. If you enjoyed this episode, please leave a 5-star review to help get the word out about the show and be sure to subscribe so you never miss another insightful conversation.

#CreditUnions #Fintech #22MinutesInLending

Key Takeaways:

00:00

Becky walks through a real-world example of how lending could work end-to-end using blockchain, smart contracts, and stablecoin—starting with a member buying a car.

05:16

"Replacing trust with truth": Becky explains how blockchain transparency removes intermediaries and why BankSocial is non-custodial by design.

08:53

What if credit unions became DAOs? Becky describes how token-based governance could reshape underwriting, credit committees, and data sharing.

12:10

Talking tech with your board doesn’t mean teaching blockchain. Becky shares how to frame stablecoin as a payment rail they already understand.

15:27

Planning season? Becky offers advice on how credit unions can realistically begin exploring crypto, stablecoin, and digital rails, with emphasis on education and execution.

18:12

Why “waiting to see what happens” is risky. Becky explains the danger of sitting back while others define the future.

19:50

Becky’s vision for 2030: a grassroots financial renaissance, where DAOs and digital-native credit unions serve tight-knit communities.

20:55

The best podcast question she’s ever been asked? Listen to hear what it is.

Resources Mentioned:

BankSocial: https://web.banksocial.io/  

LendKey: https://www.lendkey.com/

Thanks for listening to the 22 Minutes in Lending podcast. If you enjoyed this episode, please leave a 5-star review to help get the word out about the show and be sure to subscribe so you never miss another insightful conversation.

#CreditUnions #Fintech #22MinutesInLending

This is just the first half of a two-part conversation. Don’t miss the next episode, where Becky dives into how these technologies are reshaping lending.

Key Takeaways:

00:46

Becky shares why she believes cooperation is the credit union industry’s superpower, and how the CUSO model reflects that.

02:39

Is the number of CUSOs growing too fast or not fast enough? Becky explains why more CUSOs (and more differentiation and specialization) is actually a sign of industry health.

04:47

Are legacy CUSOs at a disadvantage? Becky says no, and explains how traditional and contemporary models are playing different but valuable roles.

08:10

Becky defines what a Decentralized Autonomous Organization (DAO) is and how BankSocial started as one.

11:06

Why DAOs matter for the future of credit unions: Becky breaks down how digital governance models can boost transparency, inclusion, and member involvement.

13:13

Becky dissects the jargon, explaining key terms like blockchain, Bitcoin, and stablecoin.

16:32

Payments are at the core of financial institutions. Becky explains why stablecoin could become the most efficient payment rail yet and what that means for the future of credit unions.

Resources Mentioned:

BankSocial: https://web.banksocial.io/  

LendKey: https://www.lendkey.com/

Thanks for listening to the 22 Minutes in Lending podcast. If you enjoyed this episode, please leave a 5-star review to help get the word out about the show and be sure to subscribe so you never miss another insightful conversation.

#CreditUnions #Fintech #22MinutesInLending

Key Highlights

01:00 – Overview of Atlanta Postal and its community-focused sub-brand, Center Parc.

02:38 –Why and how APCU pivoted to a dual branded approach, and what’s to come in its 100th year.

04:11 – Difference between members from the community vs. postal-service members.

06:06 – How APCU navigated the liquidity crunch: shifting from CDs to alternative savings products.

07:13 – Strategic planning: why APCU avoids “scenario overload” and focuses on actionable risks like USPS changes and GSA lease cuts.

08:43 – The biggest lending challenges APCU is tackling in 2026 planning.

09:38 – Is fintech-powered lending just indirect by another name? John shares how it’s different.

10:32 – Digitizing the onboarding process + human follow-up: APCU’s hybrid approach to memberization.

12:10 – Servicing plays a key role in building loyalty with members. APCU sees the value in keeping it internal.

12:54 – Auto refi isn’t on your members’ radar—but the offers are. A discussion about meeting members where the decision happens and partnering with fintechs that support recapture.

15:55 – How APCU is putting AI into action.

19:03 – AI as a force multiplier, not a threat: how APCU is freeing up staff for high-value work.

20:10 –John shares his mindset shift coming from banking, and what credit unions taught him about serving more than just the safest borrower.

21:27 – Advice for up-and-coming Chief Lending Officers.

Resources Mentioned:

Atlanta Postal Credit Union: https://www.apcu.com/

LendKey: https://www.lendkey.com/

Thanks for listening to the 22 Minutes in Lending podcast. If you enjoyed this episode, please leave a 5-star review to help get the word out about the show and be sure to subscribe so you never miss another insightful conversation.

#CreditUnions #Fintech #22MinutesInLending

Key takeaways:

00:37 – Central One’s rebrand, revamped website, and renewed mission while navigating a highly competitive Massachusetts market.

02:27 – How a new AI-assisted underwriting system will helping thin- and no-credit borrowers access credit-building products.

05:03 – How education lending works as a gateway to lifelong member relationships.

07:30 – Why more credit unions don’t offer private education loans, and how advocacy for regulation changes could help make the juice worth the squeeze.

09:05 – Devon makes the case for direct lending.

11:14 – How variable-rate mortgages work for Central One’s balance sheet.

12:46 – Beyond good times, how the member solutions team supports members before they enter a financial crisis.

14:20 – Managing deposit gathering and funding strategy through volatility—lessons learned from 2021’s rate environment.

16:15 – “Data isn’t about dashboards—it’s about accountability.” Devon shares his journey to data-driven strategy and how Central One is embedding insights across every department.

19:25 – First stop for AI? Underwriting. Devon explains how AI can lead to immediate member impact.

20:26 – What’s ahead in 2026? Data visualization.

Resources Mentioned:

Central One Federal Credit Union: https://www.centralfcu.com/

LendKey: https://www.lendkey.com/

CU Broadcast: https://www.cubroadcast.com/

CULytics: https://culytics.com/

Thrive: https://www.anneleggthrive.com/

Thanks for listening to the 22 Minutes in Lending podcast. If you enjoyed this episode, please leave a 5-star review to help get the word out about the show and be sure to subscribe so you never miss another insightful conversation.

#CreditUnions #Fintech #22MinutesInLending

Key takeaways:

00:38 – Omar Jordan shares the origin story of Coviance, starting with the run he took towards the fire during Great Recession.

02:30 – Growth isn’t just about rates or products—it’s about the experience. Omar explains why delivering a fintech-like journey fuels organic growth: today’s members talk.

03:49 – A blunt truth: If your member experience is broken, you're irrelevant. Operational efficiencies aren’t optional anymore, they’re required if you want to stay relevant.

05:42 – Don’t tell credit unions what to do—ask them what they want to accomplish. Plus, how Coviance measures success. (It’s more than just speed.)

08:06 – Are they a fintech? A tech firm? Tech-enabled services provider? Omar breaks down where Coviance fits and how their approach sets them apart.

09:18 – With home equity demand rising, fintechs are winning on flexibility and UX. Omar challenges credit unions to shift their mindset from being in the business of managing risk to being in the financial intelligence business.

12:26 – Stablecoin isn’t just a buzzword—Omar explains its potential to reshape how funds are disbursed quickly and securely.

13:52 – From debit cards for HELOCs to new payment options, Omar spotlights some promising innovation in the HELOC space.

16:23 – Everyone’s talking about AI, but few are using it as a strategic multiplier.  Omar shares how AI should be used for decision making, not just automation.

18:34 – What’s next for Coviance? More innovation, deeper service, and keeping credit unions competitive in a crowded lending space.

20:03 – The most underestimated trend right now? The sheer volume of fintech lending happening outside traditional institutions—and what it means for credit unions’ relevance.

Resources Mentioned:

Coviance: https://www.coviance.com/

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#CreditUnions #Fintech #22MinutesInLending

Key takeaways:

01:01 – How Chartway approaches its supportive role of smaller credit unions in a unique way, including M&A and fostering collaboration and knowledge-sharing—especially when small shops have big ideas worth spreading.

02:37 – Why Chartway is investing $25 million in branch infrastructure, and how branches are evolving as centers for education, advice, and connection.

05:42 – The strategic role of branches in Chartway’s deposit efforts and why physical presence still matters in a digital world.

06:58 – Chartway’s intentional focus on serving Hispanic members and how data led them to partner with Coopera and Inclusiv.

10:01 – What it took to earn the Juntos Avanzamos designation: from bilingual staff to cultural fluency, and how Chartway measures success.

13:22 – Launching business banking in 2024 to meet growing demand—especially from Hispanic entrepreneurs—and how a digital platform is part of the plan.

15:08 – Rob’s tech-to-strategy journey, and why Chartway is betting on fintech partnerships to close the innovation gap with big banks.

18:31 – Rethinking credit decisioning with AI: Chartway’s new model aims to say “yes” more often, while guarding against bias.

20:19 – Navigating delinquency trends: Rob shares the latest data and where things are starting to stabilize.

21:41 – Why now is the moment for credit unions to double down on their mission—and how Chartway is staying anchored to its purpose.

Resources Mentioned:

Chartway Credit Union: https://www.chartway.com/

Coopera Consulting: https://www.cooperaconsulting.com/

Inclusiv: https://inclusiv.org/

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#CreditUnions #Fintech #22MinutesInLending

Key takeaways:

00:49: Steve explains the role LEVERAGE plays within the credit union system and how it supports growth, innovation, and even advocacy.

03:00: How LEVERAGE identifies the right partners by tuning into credit union pain points and staying close to fintech and financial industry trends.

04:57: The kind of support credit unions need in times of uncertainty—and how LEVERAGE helps deliver it.

06:12: Finding the sweet spot between digital-forward innovation and the relationship-driven values credit unions are built on.

07:50: Helping credit unions navigate a crowded marketplace of fintechs, vendors, and service providers to find what truly moves the needle.

11:57: Why size doesn’t limit opportunity—and how smaller credit unions are getting tailored, hands-on support.

13:07: The growing responsibility of boards to stay engaged in the rapidly evolving fintech landscape.

14:29: Cybersecurity hasn’t fallen off their radar; credit unions just need guidance on effective yet affordable ways to protect themselves.

17:46: Exploring liquidity challenges and the solutions LEVERAGE is surfacing to help credit unions adapt.

19:03: How LEVERAGE is rolling up its sleeves for small credit unions—offering the right mix of modern tools and practical, proven approaches.

Resources Mentioned: https://myleverage.com/ - LEVERAGE

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#CreditUnions #Fintech #22MinutesInLending

Highlights:

00.30: The unspoken truth about credit union taxation: That some credit union CEOs would be willing to trade the tax exemption for access to capital markets and simplified M&A regulations.

03.57: Alternative tax options and opinions.

07.12: How smaller credit unions need greater focus, support, and investment, as they serve their members and communities in unique ways.

09.22: Questioning the myth that scale solves all problems, particularly relating to fintech.

14.10: Hopes and thoughts on what the future for America’s Credit Unions could look like following Jim Nussle’s retirement announcement.

17.57: Beeler’s vision for the future of the credit union system.

Resources:

• www.the-league.coop The League of Credit Unions and Affiliates

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#CreditUnions #Advocacy #DontTaxMyCreditUnion

Highlights:

01:39: What drove the integration of Virginia into the League, the benefits and risks of multi-state leagues, and the economies of scale it offers for not only the league, but the credit unions it serves.

05:09: Discussions around board strength, and director’s understanding as a concern, noting that many directors feel overwhelmed re. cybersecurity, AI, and broader tech trends.

09:02: Recapping the recent NCUA upheaval and what credit unions should expect next in the regulatory environment.

11:54: Whether it makes sense to simplify the regulatory framework and have a single regulator for all financial institutions, citing examples from other countries.

18:49: Advice on how credit unions can navigate the current regulatory environment of rapid change and uncertainty. 

Resources:

1. www.the-league.coop The League of Credit Unions and Affiliates

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#CreditUnions #Advocacy #DontTaxMyCreditUnion

Key takeaways:

00.58: Nick explains the primary reasons consumers don't refinance auto loans—lack of awareness and fear based on negative mortgage refinance experiences.

02.52: Insights on the $1.7 trillion auto loan market, and how borrowers seek refinance not just for interest savings, but primarily for payment flexibility.

05.13: Why refinanced auto loans typically outperform indirect auto loans.

06.25: Definition of "back-end" products (loan protection) and how shifting loan-to-value ratios impact approvals and risk management.

09.24: Impact of Federal Reserve interest rate policies on refinance demand, and an overview of the strategic adjustments lenders are making for 2025.

12.13: How credit unions can benefit from fintech partnerships to attract new member segments without cannibalizing existing business.

14.21: Why efficient, accurate retitling processes are crucial to refinancing success and how iLending approaches this.

17.22: Nick’s best practices on transparently selling optional loan protection products, ensuring full regulatory compliance.

21.35: Key factors shaping the auto refinance market, including vehicle values, leasing trends, and the competitive landscape.

Resources Mentioned:

• www.ilendingcarloanrefinancing.com iLending

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#CreditUnions #Fintech #22MinutesInLending #AutoLoans

Key takeaways:

00.55: A decade-long annual study skewed overly positive when conducted in December 2024, but uncertainty about the regulatory environment would likely see credit union leaders respond much more cautiously now, just a few months later.

02.55: The biggest myth credit unions tell themselves is that people are their greatest assets–but credit unions live or die through their digital experiences.

03.59: How direct deposit relationships may not be the sticky experience credit unions have traditionally thought–and how fintech have turned that theory on its head through smart market segmentation.

07.02: Gen Z and Millennials are more savvy about investing than their older counterparts were at the same age, and fintech are capitalizing on that emerging market.

09.36: Community banking isn’t dead, but the “community” now means something else; it’s no longer geographically based. Credit unions need to become smarter about how they cater to those niche markets.

13.20: Credit unions have a head start on fintech to secure these markets, because they’re already a known entity with market traction.

14.10: How credit unions could learn from SoFi’s success and elevate their product strategy.

18.30: Digital experience is a credit union’s product.

19.44: Should credit unions be investing directly in fintech, and should their members be concerned if the investments don’t deliver profit?

22.12: Embedded finance isn’t just about fintech; large institutions like Walmart and Gerber have been using embedded finance to capture and retain market share for years.

Resources Mentioned:

• www.robinhood.com Robin Hood
• www.chime.com Chime
• panaceafinancial.com Panacea
• www.hustlfinancial.com Vantage West’s Hustl
• www.sofi.com SoFi
• www.curql.com Curql
• www.trustage.com/ventures TruStage Ventures

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#CreditUnions #Fintech #Lending #GrowthStrategies

Key takeaways:

01.07: An overview of the Trump administration’s proposed cuts to the Department of Education, and the implications on student loan, debt, and forgiveness programs.

04.39: Credit unions need to be informed and prepared to help student borrowers navigate any ensuing chaos–particularly if the ombudsman in charge of complaints is curtailed.

05.46: The Budget Blueprint that passed the House involves cuts that exceed those already announced by the Trump administration, so more cuts should be anticipated.

06.31: How states are not in a position to pick-up the slack and/or take over student lending, so private lenders like credit unions are vital.

07.48: Privatizing or selling the trillion-dollar-plus Federal loan balance sheet is not an option, despite what the Trump administration claims.

10.05: The implications of these cuts on credit union lending strategies, and how loan consolidation could be a way credit unions can support stressed and financially stretched students.

16.21: Credit unions need to prepare for a lot of chaos and confusion–and ensure they’re informed and able to answer questions and provide solutions.

Resources Mentioned:

• www.lendkey.com/lend/private-student-loans LendKey’s student lending

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#CreditUnions #StudentLending #FinancialAid

Timestamps:

01:12 – Navy Federal’s explosive growth: 1M new members per year.

5:10 – The power of word-of-mouth marketing in financial services.

06:22 – Why trust is everything in lending.

07:05 – The three pillars of trust in financial services: Choice, value, and simplicity.

10:12 – How Navy Federal educates members on major financial decisions.

12:20 – The credit score simulator—helping members make smarter financial choices.

15:02 – Fintech partnerships and how they fit into Navy Federal’s strategy.

 17:41 – How multi-generational lending builds lifelong relationships.

19:05 – The challenges in lending today: Auto loans, mortgage downturns, and balancing risk.

21:49 – What’s ahead in 2025 lending trends: Technology, branch expansion, and community focus.

24:49 – Final takeaway: Trust is the foundation of Navy Federal’s success.

Resources Mentioned:

1. MakingCents Hub: Navy Federal’s financial education platform offering resources to help members navigate key financial decisions.​
2. Mission: Credit Confidence® Dashboard: A tool that allows members to monitor their credit score, view their credit report, and simulate changes to understand potential impacts.​
3. Personal Finance Counseling: Navy Federal offers free personalized financial counseling to assist members with goal setting, budgeting, and overall financial management.
4. Student Lending Services: In partnership with LendKey, Navy Federal provides online student lending options, including loan consolidation and private student loans.​
5. USO Partnership: Navy Federal has committed $9 million to the USO to implement existing programming and establish new initiatives aimed at supporting the military community.​

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#NavyFederal #CreditUnions #FinancialTrust #LendingInnovation #FinancialEducation

Key takeaways:

00.48: An overview of First Alliance Credit Union–one of an astounding 38 financial institutions serving Rochester, Minnesota.

02.54: While the credit union has strong membership and recently expanded into multiple new counties, the organization’s priority focus is “First Start / Fresh Start” members.

04.23: What fresh start members–people who have made credit mistakes in their past–can expect from First Alliance, and how the credit union serves them using “Storybook lending”.

05.56: How Kristina’s personal experience of moving to the U.S. as a child helps her connect with her membership on a deeper, more personal level.

07.09: First Alliance’s unique, qualitative approach to success metrics.

08.10: The importance of word-of-mouth referrals to organic membership growth.

09.07: How storybook lending supports and enables lending to borrowers who might otherwise be declined through traditional FICO parameters.

10.46: While many credit unions are seeing a rise in delinquencies, First Alliance’s hands-on approach to member engagement and storybook lending has kept delinquencies at a minimum.

14.00: How fintech partnerships are important–but not the sole focus–for First Alliance’s growth. The credit union works with fintech on everything from member outreach and engagement to underwriting, and getting people out of predatory lending cycles.

18.50: “We show up, we listen to your story, we provide opportunities.” The credit union’s simple mission is its most powerful cross-selling tool.

20.20: The need to remind credit union employees that their peers and members aren’t born with financial understanding and even the most common terms and products should always be explained.

21.12: Times are tough and people are extending themselves too far financially. There’s an opportunity for credit unions to help.

Resources Mentioned:

1. www.firstalliancecu.com First Alliance
2. greenlight.com Greenlight
3. www.meridianlink.com MeridianLink
4. eltropy.com Eltropy
5. www.zest.ai Zest AI
6. www.greenpath.com Greenpath

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#CreditUnions #Lending #22MinutesInLending

Key takeaways:

02.13: An overview of TruStage Ventures, its funding structure, and its average investments.

03.15: Three key criteria critical to TruStage Ventures making investment decisions: strategic fit and support for credit unions, financial viability, and culture fit.

06.26: How the investment strategy has evolved since 2016 to ensure the organization and its portfolio of fintech companies are supporting and sustaining the credit union system.

07.50: Fintech has reached a saturation point in the credit union system, and M&A may be the new growth area.

10.07: Profitability is a primary concern for credit union executives, and AI-driven back-office automation can often be the solution.

12.28: The growth opportunity posed by embedded finance, particularly for credit unions in the auto-lending space.

14.59: How TruStage Ventures is making intentional investments to help credit unions capitalize on the embedded finance movement and provide entry-points into relationships with major players like Amazon and Walmart.

17.07: When credit unions only talk to other credit unions, it can create an echo chamber. That can mean there’s a misunderstanding or misapprehension of the opportunities posed by fintech.

19.02: The importance of Board awareness and support for innovation.

20.36: Trust is vital for an emerging fintech to establish credibility with credit unions and gain traction.

22.22: What credit unions should be considering before partnering with a fintech of any size or maturity.

Resources Mentioned:

1. www.trustage.com/ventures TruStage Ventures
2. trybeem.com Beem
3. www.americascreditunions.org/events-training/conference/governmental-affairs-conference-2025 GAC
4. www.lendkey.com/podcast/inward-and-upward-driving-member-growth-and-financial-health-with-auto-refi Caribou episode of 22 Minutes in Lending
5. www.lendkey.com/podcast/adapting-to-shifting-consumer-behavior-in-auto-lending Origence episode of 22 Minutes in Lending
6. www.carsaver.com CarSaver
7. www.money2020.com Money 20/20

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#CreditUnions #Lending #Fintech

Key takeaways:

00.56: The organization’s initial vision to enhance credit unions’ reach and impact through an innovative marketplace.

02.49: An overview of the auto refinance market and the potential financial benefits for millions of consumers.

03.55: The nuances of auto refinancing vs. traditional mortgage refinancing–namely how credit typically improves during the duration of an auto loan.

05.30: The vast majority of auto loans being refinanced were not originated by a credit union, but instead are an opportunity to win market share from bigger banks.

06.57: How the turbulence of loan-to-value ratios has skewed underwriting and lending over the last few years, and what the future holds for credit unions.

09.09: A major portion of credit unions took a step back from auto lending in the early 2020s but are using refinancing as a lower risk re-entry strategy.

11.09: An overview of the Caribou process–how it works for consumers and credit unions, and why that’s a benefit for both parties.

14.02: The shifting picture of typical FICO scores for auto refinancing, and how credit unions can reach and engage members that they wouldn’t typically take a risk on.

16.53: Auto refinancing provides non-prime members for prime risk, and helps credit unions support members on their upward credit trajectory.

17.48: Caribou is essentially national, and is looking for credit union partners to meet consumer demand.

19.50: This isn’t about replacing existing credit union services; it’s about augmenting them at a larger scale, reaching potentially millions of more consumers.

Resources Mentioned:

1. www.caribou.com Caribou
2. www.qedinvestors.com QED Investors
3. us.dealertrack.com Dealertrack Insurance product

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#CreditUnions #AutoLending #GrowthMarketing

Key takeaways:

00.40: An overview of Long Island-based credit union, Jovia Financial Credit Union, its field of membership, and the competitive landscape.

02.23: The implications of having a dual role that oversees both revenue and lending.

04.06: How the cost of funds has influenced the credit union’s deposit growth strategy, and how they navigate significant competition.

05.43: Detail on how Jovia has successfully partnered with fintech to drive deposit and membership growth.

08.42: The opportunities for smaller credit unions to maximize their marketing efficacy to reach new members and grow deposits.

10.40: How education lending can help credit unions reach and engage younger members, grow deposits, and increase loans.

15.40: Why business lending has been so critical to Jovia Financial’s growth–so much so that the organization recently launched a business lending CUSO to support other credit unions.

19.16: Ongoing uncertainties around office space lending, particularly in highly dense urban areas.

Resources Mentioned:

1. www.jovia.org Jovia Financial Credit Union
2. www.lendkey.com/podcast/community-lenders-the-best-kept-secret-in-town 22 Minutes in Lending episode with Barry Kirby 
3. www.unioncredit.app Union Credit
4. www.lendkey.com/lend LendKey’s education lending platform

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#CreditUnions #Lending #Deposits #GrowthMarketing

Key takeaways:

01.35: An overview of MAC FCU and how they strategically expanded their physical footprint to more effectively serve their members.

03.00: The rationale behind MAC FCU’s expansion into real estate lending, both commercial and residential.

05.36: How MAC FCU’s digital transformation addresses both the needs and wants of its membership.

07.34: The infrastructure roadmap and additional investments necessary to upskill and launch MAC FCU’s digital services.

08.30: What taking “a foundational approach to AI” means, and how credit unions can safely adopt open source solutions.

12.26: Navigating member perceptions, usage, and risks of newly launched AI solutions.

14.30: Working in primarily auto-lending to support people with “bumped and bruised” credit.

16.19: How credit unions can navigate increasingly high delinquency rates, and support personal and commercial members through financial difficulties.

17.42: Increasing process efficiencies and focusing on products-per-member growth are critical growth areas for 2025.

Resources Mentioned:

1. www.macfcu.org MAC FCU

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#CreditUnions #Lending #AutoLending #DigitalTransformation

Key takeaways:

00.47: Key implications for credit unions of the Consumer Financial Protection Bureau’s (CFPB) Rule 1033.

02.20: The origins of the rule’s intention date back to the turn of the last century with the dotcom boom, but were really brought to bear when the Dodd Frank Act passed in 2010.

04.15: The intent of the rule has long been contentious, with parties pointing out that consumers already have access to a wealth of data and can control it how they choose, therefore why would it now need regulating?

04.50: What party is obligated to protect consumer data remains vague, and the CFPB’s own director still seems elusive on details.

08.10: The day after the rule was announced in final form, the Kentucky Bankers Association filed a suit challenging the regulation.

09.10: The rule’s inclusion of major fintech providers like PayPal and ApplePay shouldn’t have come as a surprise–although it was widely reported as one.

10.45: How the objections to Rule 1033 are strong enough that we may see credit unions and banks working together to challenge the legislation.

15.08: The law doesn’t provide for oversight of third parties that have access to consumer data, which is a “huge legal sticking point.”

17.48: With the incoming political administration, there’s a high likelihood that the House and Senate will repeal the regulation and require a new iteration be presented.

19.00: Credit unions have cause to be nervous with so much potential change to the tax legislation in 2025.

Resources Mentioned:

• https://www.consumerfinance.gov/ Consumer Financial Protection Bureau
• https://www.consumerfinance.gov/about-us/newsroom/cfpb-finalizes-personal-financial-data-rights-rule-to-boost-competition-protect-privacy-and-give-families-more-choice-in-financial-services/ Rule 1033
• https://www.cftc.gov/LawRegulation/DoddFrankAct/index.htm Dodd Frank Act
• https://www.congress.gov/bill/118th-congress/senate-bill/1838/text Credit Card Competition Act

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#CreditUnions #Lending #Data

Key takeaways:

0:00 Intro

1:15 An overview of Luminate, the credit union league for Louisiana, and its three core pillars: Collaborate, Innovate, Thrive.

4:50 How complacency and an aversion to risk at the Board and executive level could be contributing to the credit union system’s contraction.

8:27 Why credit unions need to be more intentional and proactive in ensuring their Board of Directors reflect the type of members they are (or want to be) serving.

10:12 Fintech is omnipresent and necessary, but it cannot replace the personal connections and relationships that credit unions offer.

15:02 The important role that credit union Leagues play in helping smaller and medium-sized credit unions leverage economies of scale.

17:55 The core conundrum: How core providers are locking credit unions into long-term deals that can inhibit growth and innovation.

19:06 What the incoming political administration could mean for credit unions.

22:31 The state of the credit union league system–what they need to focus on to support the long-term growth and success of the credit union system.

Resources Mentioned:

• https://luminate.coop/ Luminate website
• https://www.lendkey.com/podcast/think-inside-the-box-the-growth-opportunities-staring-credit-unions-in-the-face/ Dr. Brandi Stankovic episode of 22 Minutes in Lending

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#CreditUnions #Lending #Fintech #Advocacy

Key takeaways:

0:00 Intro

1:00 How historical data–the data that AI is typically trained on–contains bias, and therefore can perpetuate bias in the future.

2:27 The challenges for lenders of using historical data that contains bias, but also has valuable insights, such as an individual’s repayment performance.

3:25 Sometimes lenders have to “test and learn” into new markets to define their risk parameters.

5:26 Racial and ethnic minority groups are often wrongly stereotyped as always being underserved and/or in need of fundamental financial services.

6:44 The more financial stimulus to enable lending in under-represented populations, the greater the opportunity to remove long-term bias from data sets and have a fairer AI-driven underwriting system in the future.

8:21 A detailed overview of FairPlay AI, the algorithms it uses to pursue fairer lending for all, and its outputs and outcomes.

13:02 The double-risks posed to lenders by climate change: The risks to their members and the commodities borrowed against, and the physical risk to lenders’ collateral.

14:47 How climate change also represents a powerful opportunity for credit unions to grow and deliver on their mission.

16:14 The lending opportunities for credit unions interested in addressing climate change.

16:48 The NCUA has made it clear they are hyper-focused on fair lending, particularly in the auto market.

Resources Mentioned:

• https://fairplay.ai/ Fairplay AI
• https://www.novacredit.com/ Nova Credit
• https://www.lendkey.com/podcast/credits-new-frontier-cross-border-records-and-the-role-of-cash-flow-data/ Misha Esipov episode
• https://www.cooperaconsulting.com/ Coopera Consulting
• https://www.lendkey.com/podcast/service-or-stereotypes-can-credit-unions-engage-multicultural-consumers/ Victor Corro episode
• https://www.filene.org/reports/the-changing-climate-for-credit-unions The Changing Climate for Credit Unions
• https://ncua.gov/regulation-supervision/regulatory-compliance-resources/consumer-compliance-regulatory-resources/fair-lending-compliance-resources Fair lending resources from the NCUA

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#CreditUnions #FairLending #AI #Lending

Key takeaways:

0:00 Intro

2:06 How the murder of George Floyd compelled Kareem Saleh to look for ways he could more effectively change the system he operates in, and increase fairness for everyone.

3:08 Machine learning is capable of learning, but also of learning the wrong things.

3:55 Financial services regulators have clearly defined definitions of “fairness”: One focusing on disparate treatment, the other focusing on disparate impact. 

5:18 One of the core challenges (and/or failures to-date) for using AI to mitigate bias is that it can only learn from the data it is trained on; and that typically over-represents certain populations. 

8:49 Traditional logistic regression models don’t always work because they assume credit behaviors are linear. In reality, an individual’s financial behaviors are non-linear.

9:31 Unfairness can be born out of AI-driven models when seemingly independent variables interact with one another in a way that most humans wouldn’t interpret, but machines do.

10:01 Underwriting regulation and compliance hasn’t yet caught up with the technological capabilities of our AI-driven world.

11:56 Why monitoring an AI model’s fairness trends is critical.

14:40 Examples of ways seemingly disparate or arbitrary variables can interact with one another to bias an outcome–and how personal attributes are still being leveraged to a greater or lesser extent in decisioning models.

19:53 Concerns vs. regulatory comfort with using personal attributes like age and gender in decisioning.

22:44 The privacy implications, particularly in light of 1033, and how finding a way to share your personal information in some way–even if it’s just through the census–will help contribute to a fairer credit system.

Resources Mentioned:

• https://fairplay.ai/ Fairplay AI
• https://www.fdic.gov/system/files/2024-06/iv-1-1.pdf Fair lending rules and regulations
• https://www.justice.gov/crt/equal-credit-opportunity-act-3 Equal Credit Opportunity Act
• https://www.justice.gov/crt/fair-housing-act-1 Fair Housing Act
• https://www.lendkey.com/podcast/modern-credit-reporting-can-old-tech-handle-new-data/ Christian Widhalm, Bloom Credit, episode

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#CreditUnions #FairLending #AI #Lending

Key takeaways:

0:00 Introduction

1:29 Millions of people arrive in the U.S. each year, many of whom have been credit-worthy in their respective nations but the U.S. credit system doesn’t recognize their credit history.

2:19 There are around 100 million Americans whose credit data is inaccurate or incomplete and are missing out on loan opportunities as a consequence.

5:04 An overview of Nova Credit’s three core products: Cash Atlas, Income Navigator, and Credit Passport.

8:10 How, as a credit reporting agency (CRA) Nova Credit furnishes data to lenders and other credit bureaus.

9:00 The three core swimlanes of Nova Credit’s operations: data collection, analytics, and FCRA compliance.

9:48 The challenges preventing cash flow data from being recorded in traditional credit reporting bureaus' data–and the benefits for consumers and lenders when it is captured and used.

13:35 How government stimulus incentives issued through the pandemic may have skewed consumer credit information, and is leading to long-term underperformance on certain loans.

15:57 How Buy Now Pay Later transactions remain under-reported.

18:47 Augmenting underwriting with cash flow information is a journey. Any step towards it is progress.

21:09 Key takeaways from the inaugural Cash Flow Underwriting Summit, held in September 2024.

Resources Mentioned:

• https://www.novacredit.com/ Nova Credit
• https://www.unfcu.org/ United Nations Federal Credit Union
• https://www.novacredit.com/cash-atlas Cash Atlas^TM
• https://www.novacredit.com/income-navigator Income Navigator
• https://www.novacredit.com/credit-passport Credit Passport®
• https://www.cashflowunderwritingsummit.com/ Cash Flow Underwriting Summit 2024

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#CreditUnions #Lending #CreditReporting

Key takeaways:

1:21 - The history of Credit Union Loan Source and Cinch: Two organizations operating as one.

3:07 - ‘Market Day Supply’–the metric used to calculate how many days it would take to sell all of a specific car model–is still higher than long-term trends, but is leveling out to near pre-Covid levels.

6:50 - Almost a quarter of new vehicles financed have negative equity rolled into them.

9:08 - While credit unions’ market share of auto loans has increased over the last two years, so too has delinquencies–increasing risk for credit unions.

10:48 - Consumer debt priorities have changed. Now, cell phone bills are the priority.

12:59 - Could subvention be utilized more effectively in the EV market?

16:23 - Auto-focused fintechs are cutting back, not making as many inroads as they have done in previous years, but direct-to-consumer innovation remains.

18:17 - Inventory management is an underutilized innovation category that could support more auto-purchasing.

19:55 - Personal unsecured loans have underperformed, and this is a concern for lenders and a risk for credit union balance sheets.

21:17 - Auto-lending is a nuanced service that takes time and expertise to navigate successfully.

23:28 - Expectations of what happens if and when the Fed lowers rates.

Resources Mentioned:

• https://site.manheim.com/en/services/consulting/used-vehicle-value-index.html Manheim index
• https://www.businesswire.com/news/home/20240628537547/en/KBRA-Releases-Research-%E2%80%93-CMBS-Loan-Performance-Trends-June-2024 KBRA, delinquencies on asset-backed securities report
• https://www.cbsnews.com/news/cdk-attack-update-outage-car-sales-impact/ CDK outage
• https://www.occ.treas.gov/topics/supervision-and-examination/bank-operations/accounting/current-expected-credit-losses/index-current-expected-credit-losses.html CECL reserves
• https://www.cinchautofinance.com/ Cinch

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#CreditUnions #Lending #AutoFinance #AutoLending

Key takeaways:

03:17 - “Hispanic, Latino, Latinx” are imperfect labels that fail to acknowledge the depth and nuance of individual identity.

06:51 - Credit unions need to increase their research in, and understanding of, multicultural members as the nation prepares to be “Majority minority.”

10:26 - How building and earning the trust of underserved communities is key to a credit union’s mission, and its long-term growth.

13:08 - Hispanic members gravitate towards fintech solutions because fintech have done a better job of reducing friction points.

16:05 - Key products, services and solutions to support the breadth and scale of Hispanic members.

21:27 - The credit union system is lacking a sense of urgency, and needs to be more proactive about investing in serving multicultural members.

23:25 - Multicultural consumers are often pigeonholed–and that’s leading to poor service from financial institutions.

Resources Mentioned:

• https://www.brookings.edu/articles/latinos-and-the-future-of-finance-why-we-need-to-examine-the-motivations-and-effects-of-latinos-fintech-adoption Brookings study
• https://www.cooperaconsulting.com/ Coopera Consulting

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#CreditUnions #Lending #Credit

Key takeaways:

01.24: Almost a quarter of people find serious mistakes in their credit reports. The CFPB cites errors as the number one consumer complaint.

02:18: The rails credit data is transmitted on were never designed to take the modern volume and breadth of data inputs.

05:05: Even long-tenured, established lenders continue to make fundamental mistakes on credit reporting–partly due to the systems being decades old, and the data requirements being increasingly nuanced.

07.38: Bloom Credit has developed a bi-directional API providing lenders with consistent information, regardless of what credit bureau they’re pulling from.

11.12: Bloom Plus is a new product to enhance consumer management of their own credit data.

14.00: CFPB announced a new rule on Buy Now Pay Later lenders, requiring updated standards, but BNPL credit reporting continues to lag.

15.12: With each credit reporting bureau pursuing its own solution to BNPL reporting, BNPL lenders have been able to sit back and await their decisions without taking proactive steps.

18.12: Why credit reporting would also be good for BNPL lenders.

20.14: CFPB has been critical of credit reporting, and there may be a potential ‘New standard of care’ introduced.

Resources Mentioned:

• https://bloomcredit.io/ Bloom Credit
• https://bloomcredit.io/products/bloomplus/ Bloom Plus

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#CreditUnions #Lending #Credit

Key takeaways:

2:07 - How a “marketplace” helps expand credit unions’ institutional reach and brand awareness.

5:25 - Opportunities for credit unions to leverage credit cards to reach younger audiences.

8:28 - The ‘08 financial crisis shifted consumer trends away from credit cards and towards personal loans–but those trends are now reversing again.

10:46 - A key risk for community lenders is marketing budget.

12:09 - Is there a liquidity crisis for credit unions? Some leaders are starting to consider the temporary challenges of the last few years as macroscopic norms.

13:26 - Securing payroll is critical for credit unions to be seen as a member’s primary financial institution.

15:59 - Can digital marketing help credit unions more effectively penetrate low-income communities to increase and improve financial wellness?

18:34 - Focusing on the most pressing challenges and identifying the right partners to address those is the most effective way for credit unions to navigate the booming fintech ecosystem.

21:00 How fintech strategically benefits from credit union investors.

Resources Mentioned:

https://www.unioncredit.app/ Union Credit

https://www.trustage.com/ventures TruStage Ventures

https://www.curql.com/ Curql

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#CreditUnions #Lending #CreditCards #Marketing

Key takeaways:

2:24 - How member service–proactive, clear communication, and efficient support–can be the bedrock of credit union growth and member loyalty.

4:33 - Excellent member service leads to trust which, at scale, can provide a credit union with a competitive advantage against traditional direct lenders, particularly in the auto-lending space.

7:28 - The strategic decision behind growing auto-lending during the Covid pandemic.

10:36 - How credit unions can protect members’ financial wellness when faced with negative equity loans.

14:01 - Strategies for navigating the turbulent electric vehicle (EV) market and what it means for auto-lending in the credit union space.

18:19 - The short- and long-term implications of embedded finance on the credit union system, and financial institutions can remain relevant in a transactional ecosystem.

21:43 - Members don’t care about the size of a credit union; they care about the service and value they receive.

Resources Mentioned:

https://www.navyfederal.org/ Navy Federal Credit Union

https://us.dealertrack.com/ Dealertrack

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Key takeaways:

0:00 - Intro

1:12 - Patelco Credit Union overview

1:59 - The value of diversifying a loan portfolio.

4:35 - Challenges and changes of mortgage books in a high-rate environment

7:56 - How partnerships can help credit unions scale loans outside of traditional lending parameters

10:21 - How Patelco is skewing younger on new members

13:09 - The importance and value of creating credit union products that incentivize good financial behaviors and improve financial wellbeing

15:51 - Shifts in managing transactional accounts to maximize member engagement

17:53 - The most critical marketing lesson for credit unions.

Resources Mentioned:

https://www.patelco.org Patelco Credit Union

https://www.calhfa.ca.gov California Finance Housing Authority

https://www.mycumortgage.com myCUmortgage

https://www.patelco.org/credit-cards-and-loans/personal-loans ScoreUp

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#CreditUnions #Lending #HomeLoans #Mortgages

Key takeaways:

(1:25) How Veritex Community Bank was founded with strong values.

(4:55) Veritex’s M&A strategy, and how it changed through the recent Fed cycle.

(8:00) How intentionality and a commitment to organization values is critical to sustaining culture through M&A.

(9:58) Focusing on sustainable, core deposits is key to navigating economic uncertainty.

(15:17) When Fed rates go one way or another, you discover which financial institutions have sound long-term strategies.

(17:01) Fintech has to be embraced by, and complementary to, the regulated banking system

(19:26) The key to growth is defining what processes are scalable—and AI and machine learning may be critical to that.

(21.16) Three things to be excited about for financial services.

Resources Mentioned:

• https://veritexbank.com Veritex Community Bank
• https://www.consumerfinance.gov Consumer Financial Protection Bureau
• (CFPB)
• https://veritexbank.com/veritex-holdings-inc-announces-acquisition-of-
• north-avenue-capital-llc/ North Avenue Capital acquisition
• https://www.mantl.com MANTL

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please leave a 5-star review to help get the word out about the show and be sure to

subscribe so you never miss another insightful conversation.

#CreditUnions #Lending #Banking #M&A #Fintech #Leadership

Key takeaways:

(1:38) Credit unions don’t have the luxury of ignoring the fintech market, competition and consumers demand innovation.

(2:06) As much as credit unions need to innovate, there’s also a need for core service providers to undertake digital transformation.

(4:38) Even with 26,000 fintech to work with, credit unions need to do a better job working with their existing partners and giving them a chance to improve and upskill their services.

(8:05) Credit unions need to focus on the behavioral habits of their members, and those change by age and demographic.

(9:45) There’s a balance to be struck between serving existing members and innovating to attract and engage new members.

(12.51) Despite credit unions focusing on securing newer, younger members, only 3% participate in student lending.

(16:05) Credit unions need a clear vision of the need they’re solving. They can’t be all things to all people.

(18:48) Retiring credit union leaders should retire now and give internal candidates a chance to learn on the job.

(20:28) The three things credit unions should be optimistic about for the last half of 2024.

Resources Mentioned:

• https://www.cuna.org/about/cuna-system-providers/governmental-affairs-conference-sponsorships.html GAC (Governmental Affairs Conference)
• http://mitchellstankovic.org/innovate/#underground Mitchell Stankovic Underground
• https://www.lendkey.com/lend/ Student Lending
• https://www.sofi.com/ SoFi

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#CreditUnions #Lending #CDFI #PeopleHelpingPeople #Fintech #Leadership

Key Takeaways:

(2:35) The criteria for CDFI designation - for credit unions, banks and VC funds.

(5:52) Credit unions can use CDFI Financial Assistance grants to enhance reserves and increase lending processes.

(11:35) New criteria and requirements for CDFI designation that every existing CDFI has to meet.

(15:06) How and why CDFI credit unions continued to lend through the liquidity challenge of the last two years.

(17:36) Ways to leverage CDFI grants to support programs like ITIN lending or financial counseling.

(22:34) Overlooked opportunities for credit unions to expand their deposit-base.

(24:58) CDFI credit unions need to look more broadly at partnership opportunities to deliver their mission.

Resources Mentioned:

CU Strategic Planning

www.custrategicplanning.com

Callahan

www.callahan.com

Guadalupe Credit Union

www.guadalupecu.org

Community Development Financial Institutions (CDFI) Fund

www.cdfifund.gov

Military Annual Percentage Rate

www.consumerfinance.gov/consumer-tools/educator-tools/servicemembers/military-lending-act-mla/

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#CreditUnions #Lending #CDFI #PeopleHelpingPeople

Key Takeaways:

(01:32) The early days of fintech and how CU Direct was a disruptor in the auto lending space.

(02:13) The strategic advantage of having a single platform for numerous credit unions and dealerships.

(03:49) The incubation of DealerTrack at JPMorgan Chase and its role in transforming auto finance.

(07:53) Origence’s back-office solutions and the role of automation and AI in processing loans.

(09:05) Tony outlines the vision for Origence’s expansion into direct lending and account opening.

(16:23) The challenges of 2024, including liquidity and loan availability for credit unions.

(23:32) The impact of direct and online car sales models on traditional auto dealerships.

(28:03) Collaboration with Tesla and the establishment of a finance arm at Origence.

(35:15) Predictions for the future of auto lending and credit unions’ role in a changing economic environment.

Resources Mentioned:

Tony Boutelle - https://www.linkedin.com/in/tony-boutelle-4912a613/?trk=public_post_follow-articles

Origence - https://www.linkedin.com/company/origencecompany/

DealerTrack - https://us.dealertrack.com/

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#CreditUnion #Lending #Fintech

Key Takeaways:

(02:15) Having a long-term strategy is crucial for handling market cycles and managing liquidity to fund loan demand.

(06:45) Branches still play a role by allowing customers to seamlessly transition between digital and in-person interactions.

(10:30) Technology should enhance relationships and meet customers' modern digital experience expectations.

(16:50) Open ecosystems and partnerships integrate best solutions to deliver desired customer experiences.

(19:45) AI can efficiently process data, enabling human expertise to be leveraged for the "art" of decisions, like lending.

(38:20) A crawl, walk, run approach is needed to safely adopt AI while protecting data privacy and security.

Resources Mentioned:

Gary Lewis -

https://www.linkedin.com/in/gary-lewis-466b148/

Jack Henry | LinkedIn -

https://www.linkedin.com/company/jack-henry/

Jack Henry | Website -

https://www.jackhenry.com/

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#CreditUnion #Lending #Fintech

Key Takeaways:

(02:37) Dee’s credit union uses participation loans but lacks liquidity to continue.

(07:29) Tanya’s credit union now uses an early fraud detection report to prevent losses.

(09:00) Small credit unions should unite on technology expectations and innovation.

(14:39) If lending happens in an app, funding should still go to credit unions.

(16:44) Members often want human interaction for finances.

(20:25) Credit unions must observe people and adjust to their changing needs. 

Resources Mentioned:

Tanya Romero-Sturgeon - https://www.linkedin.com/in/tanya-romero-9aa33b91/

Tyler Valentine - https://www.linkedin.com/in/tyler-valentine-wyo/

Meridian Link - https://www.meridianlink.com/

Zest AI - https://www.zest.ai/

Felix Pago- https://felixpago.com/en/

Pine Bluff Cotton Belt Federal Credit Union - https://www.pbcbcu.org/

Guadalupe Credit Union - https://www.guadalupecu.org/

StagePoint Federal Credit Union - https://www.stagepointfcu.com/

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#CreditUnion #Lending #Fintech

Key Takeaways:

(01:42) Financial coaching and collections work together to restructure budgets.

(02:23) Restructuring budgets takes multiple sessions and education.

(05:50) Debt restructuring still requires the ability to repay.

(06:45) Restructuring should not just mask delinquency problems.

(15:13) Auto dealerships without competition proved untrustworthy.

(15:44) Raw indirect auto lending program had issues.

(18:55) ITIN lending led to 7% annual growth.

(21:29) Success came from serving all community members.

Resources Mentioned:

Tanya Romero-Sturgeon - https://www.linkedin.com/in/tanya-romero-9aa33b91/

Tyler Valentine - https://www.linkedin.com/in/tyler-valentine-wyo/

Pine Bluff Cotton Belt Federal Credit Union - https://www.pbcbcu.org/

Guadalupe Credit Union - https://www.guadalupecu.org/

StagePoint Federal Credit Union - https://www.stagepointfcu.com/

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#CreditUnion #Lending #Fintech

Key Takeaways:

(02:12) Collaborative discussions help guide credit union strategy and decision-making.

(04:22) Getting creative with new emergency loan products aided members impacted by natural disasters.

(08:05) Monitoring used vehicle values prompted an adjustment in indirect auto lending practices.

(11:55) Serving low-income members is focused on financial education and counseling.

(13:33) Deposit growth funding facilitated lending to underserved communities.

(17:39) Deposit growth strategy is as critical as lending strategy.

(18:30) Deposit pricing strategies aim to retain core deposits.

Resources Mentioned:

Tanya Romero-Sturgeon - https://www.linkedin.com/in/tanya-romero-9aa33b91/

Tyler Valentine - https://www.linkedin.com/in/tyler-valentine-wyo/

Pine Bluff Cotton Belt Federal Credit Union - https://www.pbcbcu.org/accounts

Guadalupe Credit Union - https://www.guadalupecu.org/

StagePoint Federal Credit Union - https://www.stagepointfcu.com/

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#CreditUnion #Lending #Fintech

Key Takeaways:



(03:07) Serving rising tuition costs.

(05:48) Student loan refinancing demand.

(06:45) How to prepare members for repayment.

(09:03) The importance of focusing on customizing products to members.

(14:40) Deepening relationships with members.

(22:28) FICO’s role in collections.

(28:56) Brian emphasizes trust and carrying out the right actions over time.

Resources Mentioned:

Brian Creagh - https://www.linkedin.com/in/brian-creagh-53010129/

SAVE Plan - https://studentaid.gov/announcements-events/save-plan

Navy Federal Credit Union - https://www.navyfederal.org/

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#CreditUnions #Lending #Fintech

Key Takeaways:

(1:10) Leaders need tech proficiency.

(2:54) Leadership skills such as emotional intelligence will be vital going forward.

(3:28) The CEO role can be filled by people with different backgrounds and disciplines.

(11:49) The need for technology has driven more CUSO formation focused on innovation.

(13:12) Increased responsibility on both CUSOs and credit unions to properly evaluate investments.

(17:05) Need to protect smaller credit unions through new CUSO models and collaboration.

(18:35) Collaboration can benefit even the smallest credit unions.

Resources Mentioned:

Ronaldo Hardy - https://www.linkedin.com/in/ronaldohardy/

NACUSO - http://www.nacuso.org/

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#CreditUnions #Lending #Fintech

Key Takeaways:

(00:48) CUSOs act as the entrepreneurial arm of credit unions, providing shared resources.

(02:07) Any entity taking just $1 of investment from a credit union becomes a CUSO.

(03:14) CUSOs allow for increased collaboration between fintechs and credit unions.

(05:09) CUSOs evolved from cooperatives to more innovative models responding to consumer expectations.

(08:36) Credit unions are reorganizing as fintechs while still delivering the credit union model.

(15:20) Removing lending restrictions allows credit unions to reach their members better.

(20:48) Building talented people focused on empathy and purpose is critical for credit union success.

Resources Mentioned:

Ronaldo Hardy - https://www.linkedin.com/in/ronaldohardy/

Credit Union Innovation Report - https://www.filene.org/reports/credit-union-innovation-the-member-perspective

NACUSO - https://www.nacuso.org/

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#CreditUnion #Lending #Fintech

Key Takeaways:

(00:34) Curql invests in fintechs on behalf of credit unions. 

(04:49) Curql helps educate fund managers on credit unions. It keeps fintechs and credit unions connected.

(08:55) Credit unions can only invest in fintechs structured as CUSOs. Many fintechs become CUSOs to work with credit unions.

(14:04) Curql aims to help modernize regulations so credit unions can more easily work with fintechs.

(16:39) Curql Fund 1 is diversified across stages and company maturity to manage risk.

(22:15) A strategic investor can have a stronger voice on fintech boards than financial investors.

(29:01) Curql ensures fintech acquisitions like Payrails will benefit credit unions before approving a sale.

Resources Mentioned:

Nick Evens -

https://www.linkedin.com/in/nick-evens-76b75316/

Curql Collective | LinkedIn -

https://www.linkedin.com/company/curql/

Curql | Website -

https://www.curql.com/

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#CreditUnions #Lending #Fintech

Key Takeaways:

(05:26) Criteria for identifying fintech partnerships vs. competitors — seeking synergies that allow mutual growth.

(08:08) Transforming a ‘vanilla’ loan portfolio into diverse offerings

(10:17) Inspire’s funding philosophy uses multiple sources for liquidity — member deposits, FHLB and non-member deposits.

(18:54) Benefits in new CUSO lending regulations — spreading liquidity and diversification.

(20:55) Cooperation and collaboration will strengthen credit unions against fintech threats.

Resources Mentioned:

Jim Merrill -

https://www.linkedin.com/in/james-m-4352933/

Inspire Federal Credit Union | LinkedIn -

https://www.linkedin.com/company/inspire-federal-credit-union/about/

Inspire Federal Credit Union | Website -

https://inspirefcu.org/

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#CreditUnion #Lending #Fintech

Benson provides perspective on lending’s key topics including rising auto loan payments, dropping used car values and increasing consumer budget strain. He talks about commercial real estate concentration risk limits and the uncertainty in retail and office spaces. Benson warns of liquidity challenges as rates rise but sees relationship banking as an advantage. 

Key Takeaways:

[00:38] Alabama Credit Union: background and growth strategy. 

[05:00] How indirect auto loans are driving growth, with potential value declines ahead.

[08:22] Limiting commercial real estate exposure amid sector uncertainty.

[14:55] Anticipating Fed rate cuts next year.

[20:20] Relationship banking aids liquidity despite deposit competition.

[21:13] Underwriting prudently for expected delinquency increases.

Resources Mentioned:

Benson Bolling - https://www.linkedin.com/in/benson-bolling-10a08277/

Alabama Credit Union - https://www.linkedin.com/company/alabama-credit-union/

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#CreditUnion #Lending #Fintech

Key Takeaways:

(01:23) Chip discusses the inception and mission of Live Oak Bank, focusing on providing exceptional service to niche industries through technology.

(09:32) How Canapi leverages relationships to bring unmatched value to companies.

(15:55) Chip emphasizes the importance of striking a balance between digital convenience and exceptional customer service, recounting his experience with Live Oak Bank’s responsiveness.

(21:42) Chip delves into the shifts in fintech investments and valuation trends, highlighting the abundance of money-chasing fintech investments and the subsequent adjustments in valuation dynamics.

(26:35) Chip shares his perspective on the state of banks, touching on the issues of credit quality, liquidity and capital. He feels that banks are solid because the credit guys at the helm are cautious due to regulatory pressures.

Resources Mentioned:

Chip Mahan - https://www.linkedin.com/in/chipmahan/

Live Oak Bank - https://www.liveoakbank.com/

Canapi Ventures - https://www.canapi.com/

Payrailz - https://www.jackhenry.com/what-we-offer/payments/payrailz-digital-payments-platform/

Thanks for listening to the 22 Minutes in Lending podcast. If you enjoyed this episode, please leave a 5-star review to help get the word out about the show. And be sure to subscribe so you never miss another insightful conversation.

#Banking #Lending #Fintech

Key Takeaways:

(04:10) Ron discusses the increasing competition from larger banks and the importance of matching their interest rates to retain customer loyalty. 

(08:19) The significance of strategic partnerships, like the one with LendKey, for smaller credit unions to thrive and offer state-of-the-art services. 

(17:47) Insights into the role of technology, specifically embedded finance, in revolutionizing customer experience and the future of banking transactions. 

(20:57) The importance of cybersecurity, the challenges faced by smaller institutions and strategies to mitigate risks while maintaining a competitive edge.

Resources Mentioned:

Ron Draper - https://www.linkedin.com/in/rolanddraper/

Somerville Municipal Federal Credit Union - https://www.linkedin.com/company/somerville-municipal-federal-credit-union/about/

LendKey - https://www.lendkey.com/

Posh Technologies - https://www.posh.tech/

NCUA's resource page on cybersecurity - https://ncua.gov/regulation-supervision/regulatory-compliance-resources/cybersecurity-resources

Thanks for listening to the 22 Minutes in Lending podcast. If you enjoyed this episode, please leave a 5-star review to help get the word out about the show. And be sure to subscribe so you never miss another insightful conversation.

#CreditUnion #Lending #Fintech