Allied's Hilger breaks down today's lending landscape
President and CEO of Allied Solutions Pete Hilger Thursday dove into the lending landscape before, during and after the pandemic and provided insights into how credit unions can adapt. Hilger encouraged credit unions to be bold and proactive as they navigate and leverage the new lending and risk management environment.
“If you think about the investments we were all making to prepare for big data, digital, whether we have branches or don’t, and how we interact with our members - one of the things that this pandemic has provided is an opportunity to really, out of necessity, accelerate getting to those long term benefits that are going to make us more competitive in the industry we represent,” said Hilger.
Hilger noted where potential challenges may arise, such as a spike in refinancing applications, the need to leverage new technology for lending services, a highly competitive market with lower consumer demand for loans, and a decrease in new loan originations. He offered resources and ideas for credit unions looking to be creative in the face of challenges, and encouraged outsourcing where possible.
In addition, Hilger noted how further complications arise when face-to-face interactions are nearly impossible.
While credit unions might struggle to compete with things like longer terms and interest free lending solutions, Hilger suggested that credit unions can come up with a “mixed and sound portfolio” by combining some of the many strategies available in the new lending environment.
“These things are really going to affect how you decide to lend, how you borrow, and how you evaluate your consumers because there is definitely a big increased risk as you write your loans,” said Hilger.
When discussing risk management, Hilger urged credit unions to take a look at their fraud tools, policies and procedures that will help protect them.
“The bad guys are bigger than ever,” remarked Hilger. Although there is nothing out there to protect you from every type of fraud, Hilger noted, but there are great ways to minimize it.
NAFCU's landmark State of the Industry event virtually brought together credit union executives and board members from across the country to dissect current trends and examine what’s coming next. Sessions from the event, including Hilger's presentation, will be available to watch on-demand online and on the event app Monday.
Add to Calendar 2020-10-22 14:00:00 2020-10-22 14:00:00 Navigating Mergers and Acquisitions During these uncertain times, credit union mergers are a hard reality to face. We strive to strengthen credit unions with as much support as possible to maintain steady growth and success. While NAFCU does not encourage credit unions to merge, we realize mergers are a part of our industry’s reality. Please join us for a discussion on must-know concepts regarding mergers and other similar transactions, including bank and credit union branch acquisitions. This “101” presentation will focus on key concepts that will let you focus on the opportunities that will work for you, and the strategies that will bring you success. Again, NAFCU does not encourage mergers, but if you are considering one, we want you to be armed with helpful information. Key Takeaways Understand how to identify early whether merger or purchase/sale opportunities will bring material benefits Discuss strategic questions to ask your credit union whether merger is right for you (or how to stay independent) Review how to navigate major un-written rules in the application process Gain knowledge about member votes and communications Purchase Now$295 Members | $395 Nonmembers (Additional $50 for CD)One registration gives your entire credit union access to the on-demand recording until October 22, 2021.Already registered? Go to the Online Training Center to view live. Who Should Attend? Chief Executive Officers (CEOs) Executive Vice Presidents (EVPs) Chief Financial Officers (CFOs) Education Credits NCCOs will receive 1.5 CEUs for participating in this webinar NCRMs will receive 1.5 CEUs for participating in this webinar. CPA credit information is below; recommended 1.5 CPE credits. CPA Certification Credit Information Reviewer: Josie Collins, Associate Director of Education, NAFCU Learning Objectives: Understand how to identify early whether merger or purchase/sale opportunities will bring material benefits. Discuss strategic questions to ask your credit union whether merger is right for you (or how to stay independent). Review how to navigate major un-written rules in the application process. Gain knowledge about member votes and communications. Program Level: Basic Prerequisites Needed: None Advance Preparation Needed: None Delivery Method: Group Internet-Based Recommended CPE Credits: 1.5 credits Recommended Field of Study: Finance – Technical National Association of Federal Credit Unions (NAFCU) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. Learn more. About Our Webinars Our webinars are streamed live from NAFCU headquarters near Washington, D.C. Your audio/video feed of the presenters includes presentation slides and downloadable handouts. You can easily submit your questions to the presenters at any time during the live broadcast, with no dialing over the phone! The audio and video stream directly through your computer. Web NAFCU firstname.lastname@example.org America/New_York public
Credits: NCCO, NCRM, CPE
Add to Calendar 2020-10-22 14:00:00 2020-10-22 14:00:00 [INTERVIEW] CU Blueprint for Secure Cloud-First Strategies About the Interview “Moving to the Cloud” can seem like an ambiguous, one-time, heavy-lift project, often leading to misunderstanding and analysis paralysis within credit unions. For your CU to stay competitive, you want to deliver a seamless digital experience that's more than flashy applications. It needs to be built on flexible, secure infrastructure that allows innovation. Join us for this panel discussion and learn practical, proven processes to establish and evolve secure, cloud-first strategies. Hear best practices in communication, talent, and technology, and walk away with a blueprint for your secure credit union transformation. Watch the Interview On-Demand Web NAFCU email@example.com America/New_York public
Amazon Web Services
Student Loans, Consumer Lending, Growth & Retention
Get daily updates.
Subscribe to NAFCU today.