According to the NCUA, credit unions experienced a 20% annual increase in total deposits in 2020. Meanwhile, current economic conditions have credit unions struggling to find qualified member borrowers, leading to a capital surplus without viable investment options.
To buck the trend, many credit unions have partnered with fintech companies to grow their consumer loan portfolio by finding more creditworthy borrowers and gaining new members. Discover how your credit union can tap into this opportunity to quickly increase consumer lending to more creditworthy borrowers with minimal upfront costs. In this webinar, Brent McCoy, Vice President of Credit Administration, KEMBA Financial Credit Union, will share how KEMBA is putting its cash to work to grow its consumer loan portfolio while gaining new members.