Callahan Collections

Lending

 
 
DebtReductionCollection

New Year. Less Debt.

It’s a tradition that dates back ages: Start a new year, and vow to kick an old, bad habit. In the modern era, a common New Year’s resolution involves money. Specifically, saving more and spending less of it. Check out this Callahan Collection to see what strategies — savings challenges, refinance programs, prize-linked savings lotteries, and more — credit unions are using to help members reach their financial goals every day of the year.

 
HolidayHelpCollection

Help For The Holidays

The holidays are supposed to be a time of happiness and celebration, well-wishing and thanksgiving. For consumers feeling a financial pinch, however, the holidays can turn into a time of stress, anxiety, and worry. This Callahan Collection is dedicated to those credit unions that have stepped up with products and education to help members stretch — and stick to — their budgets. Because, help for the holidays is a gift that lasts all year long.

 
DisasterResponseCollection

When Disaster Strikes

In the shadow of the worst-case scenario, credit unions rise to be the best resource they can be for their members, communities, and more. This Callahan Collection brings together industry stories on how to deal with disaster while adding a human touch to financial services.

 
RatiosToKnow

Must-Know Metrics For Credit Union Management

It is an NCUA mandate that a credit union’s board of directors have a “working familiarity with basic finance and accounting practices.” That’s for volunteers. Shouldn’t a credit union’s management staff have the same working knowledge of ratios that effect the credit union’s performance? This Callahan Collection covers concepts, definitions, and formulas every credit union volunteer and member of management should know.

 
10 Ways To Pump Up The Loan Portfolio

10 Ways To Pump Up The Loan Portfolio

Lending is increasing across the credit union industry, and institutions have found success beyond the 30-year fixed mortgage and 5-year auto loan. This Callahan Collection identifies 10 lending strategies credit unions can employ to grow their portfolios.

 
Get Busy With Business Loans

Get Busy With Business Loans

In the United States, small businesses make up 99.7% of employer firms, according to the Small Business Association. As localized financial institutions, credit unions are well positioned to serve this business community. Although small business loans carry additional risk, credit unions from across the industry have proven time and again how to accommodate this risk while helping these firms fulfill their societal benefit. That’s why this Callahan Collection offers examples of successful member business lending programs and initiatives from coast to coast.

 
Cars For Kids

Cars For Kids

The next generation of car buyers is just around the corner. And as their buying power increases, so too will their need for transportation that meets their standards for quality, affordability, and environmental sustainability. This Callahan Collection showcases big-picture strategies as well as specific credit union tactics — including green loans, car-sharing, and savings and buying education — for reaching this generation.

 
How To Work With Realtors

How To Work With Realtors

Although building a realtor network can seem like a daunting task, similarities between credit unions and realtors can spur an initial conversation. Both are built upon personal relationships within their communities and customer trust, and share a calling to help individuals achieve home ownership. This Callahan Collection profiles the various approaches credit unions have employed to develop realtor relationships.

 
Driver's Education

Driver's Education

Total auto loans across the credit union industry grew 16.70% year-over-year as of the first quarter 2015. That’s the tenth consecutive quarter in which the industry posted double-digit growth or higher. At the same time, new and used auto delinquencies were low — 0.62% and 0.31% respectively.

Credit unions serve a diverse set of members, and not all of them have “A” or “B” quality credit. That’s why this Callahan Collection showcases credit unions that have developed educational and technological means to better serve the auto needs of members while managing against risk.

 
Whatever The Niche Might Be

Whatever The Niche Might Be

Credit unions from California to Florida are offering unconventional, low-dollar lending products to satisfy the specific needs of members. From a product that mimics a tanda — an informal credit source used by Hispanic communities — to another that helps fund construction projects, the credit unions profiled in this Callahan Collection are finding innovative ways to meet member needs, whatever the niche might be.

 
An Indirect Object Of Affection

An Indirect Object Of Affection

Credit unions held more than $102 billion in indirect auto loans Nationwide as of June 2014, according to Callahan & Associates. That’s the largest balance in the past 10 years. Indirect lending offers benefits such as serving new members the credit union might not otherwise have reached and the opportunity to deepen relationships with members who come through the channel.

Building a strong indirect program require dues diligence and the ability to cultivate relationships. That’s why this Callahan Collection showcases the strategies different credit unions employ to improve the efficiency of indirect lending, establish contact with local auto dealerships, and enhance dealer partnerships.

 
Modern Mortgages For Members

Modern Mortgages For Members

First mortgages make up 41.54% — or $283.3 billion — of the credit union loan portfolio. According to Callahan & Associates, that’s a 17% increase from June 2012 to June 2014. But credit unions are not only gaining share, they’re also making creative loans, driving volume, and helping members achieve homeownership. This Callahan Collection presents an array of innovative ways credit unions are making mortgage loans to members.

 
Opportunities In The Mortgage Market

Opportunities In The Mortgage Market

Credit unions nationwide held $276.7 billion in first mortgages as of first quarter 2014, according to Peer-to-Peer analytics by Callahan & Associates. That’s nearly 42% of the entire portfolio. Mortgages comprise the largest compo¬nent of credit union lending, but new rules and regulations changing the mortgage landscape could change that. This Callahan Collection offers credit unions a discussion of the Ability-to-Repay Rule and Qualified Mortgage standards as well as presents four strategies to maximize the potential in the mortgage portfolio.

 
Real Cooperatives Lend Niche

Real Cooperatives Lend Niche

As member-owned-and-operated institutions, credit unions exist to serve their members’ needs. Cooperatives often can meet these needs through traditional lending products such as mortgages, auto loans, and credit cards. But when a specific member segment has an unmet need, specialized lending products go a long way in developing and retaining that member base. By satisfying the exceptional needs of members, credit unions can enhance not only that segment’s loyalty but also their propensity to refer other members. In this collection, we offer several examples of credit union niche loan products to serve as a model for institutions looking for additional ways to serve their membership.