Attract New, Younger Members and Grow Loan Capabilities with CUNA Mutual Group
February 14, 2012
February 14, 2012
Smartphone Loans Come to loanliner.com® System
In 2011, CUNA Mutual Group launched new technology that optimizes loanliner.com® for use with Smartphones and improves the member experience. It also supports the broader goal of many credit unions to attract new and younger members and to reach members through new product channels. Two early-adopter credit unions saw their mobile-device loan application completion percentage significantly increase through use of this technology. Since the technology was launched in late June 2011, more than $48 million in loans has been requested at nearly 381 credit unions.
Source: loanloaner.com® data records through Oct. 7, 2011.
CUNA Mutual Group Funds Filene Consumer Loan Growth Study
In 2011, CUNA Mutual Group funded a Filene Research Institute study on consumer loan growth strategies and best practices to help credit unions make the most of every lending opportunity.
For the study, Filene conducted interviews with credit unions that consistently showed more than 5 percent annual growth in their consumer lending programs (auto and credit card) between 2008 and 2010 and had more than $50 million in assets. Only 24 credit unions out of a potential 1,500 showed growth.
The study identifies commonalities, best practices and case studies for credit unions to use to help them grow loans, with results available through CUNA Mutual Group.
CUNA Mutual Group Adds to Its Compliance Resources
CUNA Mutual Group has added to its lending compliance resources with the hiring of Anneke Diem as compliance manager, Lending Service Products. In this role, Diem will focus on lending and deposit laws and regulations, and the resulting compliance challenges facing credit unions.
This new position represents CUNA Mutual Group’s ongoing commitment to helping credit unions manage their lending business in a challenging compliance environment.
Most recently, Diem served as an associate attorney in the Corporate Services Group of Quarles & Brady, LLP in Chicago. She worked directly with financial institutions on regulatory compliance matters, capital raising and strategic acquisitions and dispositions. Diem was named an Illinois Super Lawyers Rising Star for each of the last three years.
Diem earned a law degree from the University of Washington School of Law. She also attended the University of Iowa, where she earned a bachelor’s degree in Business Administration.
Strategic Link is the NWCUA’s wholly-owned service corporation, providing the Association’s member credit unions with exclusive high-quality, competitively-priced products and discounted services. Questions? Contact Sales & Marketing Associate Craig Reed: 206.340.4789, email@example.com.