VACUL/CUNA Mutual Group Webinar Why Recapture is The Most Important Lending Strategy For Credit Unions 2022 | Virginia Credit Union League | 6 December 2022 | Webinar
Venue
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| Event Date | Tue Dec 6 EST (about 2 years ago) |
| Location | Webinar |
| Region | Americas |
Details
On average, credit unions have just over 20% of auto loan debt with even lower penetration in unsecured loans and credit cards. This means that your members have 80% of their debt somewhere else, and despite credit unions having better rates, they are losing marketing share. Meanwhile, fintechs are seeing exponential growth.
These direct-to-consumer fintech lenders are using one of two strategies: they are either embedded at the (e-commerce) point-of-sale or they leverage personal finance platforms such as Credit Karma and NerdWallet to harvest demand while creating exceptional user experiences that convert applicants into loans despite high interest rates.
Join this session to hear from CEO and Founder of Clutch, to learn how to implement these strategies and provide solutions that allow credit unions to recapture members debt.
Speakers
2022 Speaker
Nicholas Hinrichsen
Founder & CEO, Clutch | Stanford MBA, sold his previous business Carlypso to Carvana (a CMFG Ventures Portfolio Company)