Search
 
Commentary

Guest Opinion: MBL Can Help Close the Lending Shortfall

The shifting sands of the consumer lending marketplace have caused the traditional loans (auto loans, home equity loans, and mortgages) that credit unions know and trust to either become scarce or thinly priced due to competition for each deal. Couple this with generally increasing costs, like regulatory compliance and...

By Jim SImon | Updated on June 04, 2012

The shifting sands of the consumer lending marketplace have caused the traditional loans (auto loans, home equity loans, and mortgages) that credit unions know and trust to either become  scarce or thinly priced due to competition for each deal. Couple this with generally increasing costs, like regulatory compliance and provision expense, and credit unions will need to find other loan products to pursue. Member business lending should be one of the first loan product expansions considered.

Member business lending is not without its risks. However, if a credit union is prudent in its approach to this arena and takes the steps necessary to appropriately manage its costs and mitigate its risks, then it will create a win-win experience for both the business member and the organization’s bottom line. If the credit union falters on either expense control or risk management, the member business lending experience will not be as satisfactory as initially planned.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Why Your CU Needs a Chief Data Officer

Why Your CU Needs a Chief Data Officer

Henry C. Meier, Esq. |

There are too many data-related questions to answer and legal issues hanging around to not have a data chief at the helm.

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2024 ALM Global, LLC. All Rights Reserved.