72
Over the past few years, senior managers at Oregon Community Credit Union realized it was time to challenge some long-standing assumptions about auto lending. To test those assumptions, the credit union undertook a multi-department project that combined the art of relationship lending with the science of data analytics. The project found that FICO scores are a good predictor of risk. One assumption that didn't pan out is that loan length is also a good predictor. Turns out, a 72-month loan is not riskier than a 60-month loan just by its length.
Read more in "Crunching Numbers Leads To Surging Loans."
$1 Million
On January 1, 2018, Desert Schools Financial Credit Union became Desert Financial Credit Union. The credit union announced the name change to members in December 2017, went live with a public marketing campaign on Jan. 2, and made some noise on Feb. 4 with a Super Bowl commercial starring Alice Cooper. According to the credit union, for an investment of less than $1 million, the ad generated more than one million impressions.
Read more in "School's Out Forever."
4.0%
Credit unions added 1.2 million net new members in the third quarter of 2017 and surpassed 111 million total members. Year-over-year, the number of credit union members grew 4.0% from 107.5 million as of Sept. 30, 2016, to 111.5 million as of Sept. 30, 2017.
Read more in "Member Relationships By The Numbers."
5
Callahan's Victoria Taylor closed on her first house five months ago. In the time since, she and her husband have slowly learned how to care for it — fixing broken things themselves, shoveling snow, and more. Now that she's had time to reflect on the process, what did she learn?
Read more in "1 Real Mortgage ... 5 Months Later."
Happy Reading!
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