Palm Readings, Reality Fairs, And More

Five can’t-miss data points this week on CreditUnions.com.

 
 

This week, CreditUnions.com looks at one credit union funding loans in spite of a loan-to-share ratio north of 120%, another that runs several reality fairs each year with the help of an app, and a third that is authenticating identity with palm vein readers.

Here are five can't-miss data points:

120%

University of Iowa Community Credit Union is in an enviable position. It’s annual loan growth has averaged more than 20% for the past 10 years, and the growth of the communities it serves, along with an expanded branch network, has pushed the credit union’s loan-to-share ratio higher than 120%.

In "3 Ways To Fund Loans," Todd Fanning, the credit union’s senior vice president and chief financial officer, discusses the strategy this Hawkeye State credit union uses to fund its remarkable loan growth.

 

 

Three or Four

Adulting isn’t easy, and BECU wants kids to know that. Each year, the credit union sponsors three or four financial reality fairs at area high schools. The interactive learning experiences help prepare 11th- and 12th- graders for the financial realities of adulthood.

To learn more about the fairs — including their organization and the curriculum used — read "How To Become A Grown-Up In 1 Day Or Less."

10,000

A member’s handshake is as good as their word at Evansville Teachers Federal Credit Union, especially now that the Hoosier State financial cooperative is using palms to authenticate just who’s at the other end of that arm. ETFCU has been rolling out palm vein readers across its branch network since June 2017, and members have used the new technology at the teller window more than 10,000 times.

Learn more about this technology in "A Handy Way To Authenticate Member Identity."

1.3 Percentage Points

Credit unions have posted 17 consecutive quarters of double-digit growth in auto lending. Annual growth for third quarter 2017 was 12.4%, with loans totaling $329.6 billion. However, growth in the auto portfolio has decelerated for the past four quarters. This quarter, it was 1.3 percentage points slower than this time last year.

Learn more about this part of the loan portfolio in "Auto Lending By The Numbers."

110 Million

There are more than 110 million credit union members. But are credit unions truly member-centric? Or are they hiding behind a wall of words? That's a tougher question to answer than the movement might want to admit.

Learn why this year the senior leaders at Callahan & Associates are focusing on a big idea through commentary, speaking engagements, on-site presentations, and more. The big idea? Pushing credit unions to ask tough questions in 2018.

Happy Reading!

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Jan. 22, 2018


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