HELOC BALANCES AND UTILIZATION
FOR U.S. CREDIT UNIONS
SOURCE: CALLAHAN & ASSOCIATES

Home equity loans and lines of credit were key drivers of credit union growth in the first quarter of 2026, according to remarks in Callahan & Associates’ latest Trendwatch webinar, and credit unions are taking different approaches to capture that demand.

Eras And Roots

Baton Rouge Telco Federal Credit Union ($456.4M, Baton Rouge, LA) has reported a 20% lift in home equity lending in the past several years. The southern credit union offers only HELOCs and does not provide closed-end home equity lending.

Although the demand has been steady, HELOC requests have by no means exploded, says Katie Guylette, the credit union’s chief lending officer. That’s partly by design.

The credit union focuses on auto lending — indirect auto makes up the majority of its loan portfolio — and promotes its home options twice a year. It runs a purchase campaign in the first half of the year and a HELOC campaign in the second half.

Telco used to combine its purchase and HELOC campaigns but found those member segments’ needs were different enough to require independent, tailored outreach.

“We’ve developed a strategy of trying to get much more specific and targeted with our messaging,” says Kristin Romero, chief experience officer.

The credit union is still crafting this year’s HELOC campaign, but it typically focuses on digital channels to raise awareness with existing members. It’s also got a wildly successful past campaign to draw on.

In 2024, Telco leaned into the cultural phenomenon of Taylor Swift’s Eras Tour to promote HELOC opportunities. That campaign proved to be the credit union’s most successful ever, Romero says, crediting a mix of smart timing and a more playful tone.

The credit union’s 2026 mortgage campaign highlights strong roots and smart financing, and the HELOC campaign is likely to take its cues from that, possibly with a “grow your roots” theme, Romero says.

“You’ve planted roots, now leverage that so you can achieve your dreams, that kind of thing,” she says.

Regardless of the campaign, one of Telco’s biggest lessons has simply been to offer a straight-forward product and communicate the benefits to members.

“Because we’re a bit smaller, members can feel like they’re getting that personal service and handholding with something that can be stressful,” Romero says.

Same Product, New Messaging

Home equity lending at TAPCO Credit Union ($719.3M, Fircrest, WA) has increased in the past 18 months, with demand shifting from open-ended HELOCs to termed home equity loans.

The credit union processes roughly an equal number of both, but HELOC borrowers typically access only $300,000 or so of available equity, compared with roughly $3 million issued at once in closed-end home equity loans, says Jeremy Mandery, chief retail and lending officer.

In the past, edgy campaigns like its 2022 “Big Deck Envy” helped TAPCO attract local attention, borrower business, and industry recognition, but as the economy has shifted and consumer sentiment has fallen, the credit union has altered its tone to focus more on community.

TAPCO is delivering much of its latest messaging through online banking and other digital channels, which tend to provide more consistent exposure to members than a one-off promotional email, says Jacob Rose, director of marketing.

The lending team has also worked with title companies and other vendors to identify direct mail prospects who have equity in their homes and live in the vicinity of a TAPCO branch. The credit union then sends a postcard with a scannable QR code that provides information.

The toned-down messaging and focus on community is also the result of a stronger market presence. Back when it launched Big Deck, it was trying to attract attention.

“People see us now,” Rose says. “The community sees us. We don’t need to be as splashy with some of that marketing.”

Mandery also credits CEO Justin Martin with shifting TAPCO’s overall approach.

“Over the past four years, we’ve had 25% asset growth and we’ve gotten back to the roots of what credit unions do,” Mandery says. “We are certainly outspent by some credit unions and regional banks in our area, but when it comes to boots on the ground, we’re there. That puts us in the room for opportunities we wouldn’t otherwise get.”

Visions Of Success

Across the country, demand for home equity products at Visions Federal Credit Union ($5.3B, Endwell, NY) has been high for the past few years but was flat in the early months of 2026. According to the credit union, seasonality is at play, and it is taking steps to boost interest.

“The demand is out there, but it’s been a sleepy start to the year,” says Mandy DeHate, chief marketing officer. “We’re starting to get more to our stride in terms of applications.”

Visions offers closed-end home equity loans and open-ended lines of credit, although DeHate says the latter tends to be more popular. To promote its products, the northeastern credit union has embraced digital marketing in a year filled with major sporting events. Over the top — or OTT, for short — ads served direct to audiences over the internet are helping the credit union capture eyeballs during high-profile sporting events like the Super Bowl, March Madness, the Winter Olympics, and this year’s FIFA World Cup. That effort works alongside Google Performance Max campaigns to increase Visions visibility across the broader Google network.

“We’ll get [consumers] while they’re searching, we’ll get them while they’re watching YouTube, we’ll get them as they’re going about their day,” DeHate says. “Those multiple touchpoints drive home the fact we’ve got this product, and I think it leads to faster decision-making and stronger credibility of our brand.”

That same approach extends to audience targeting. The credit union is running Spanish-language digital campaigns tailored to its Hispanic communities and ran a successful geofencing campaign in 2025 to target members visiting retailers like Lowe’s and Home Depot located near one of Visions’ 61 branches. That campaign drove branch traffic, DeHate says, but it tracked visits rather than whether members ultimately opened a HELOC or completed another transaction.

Ultimately, although these efforts can attract new members, most HELOC applications at Visions still come from existing members — underscoring the importance of staying visible across channels and meeting members where they already are.

See how your home lending performance compares. Demand for home equity products is rising industrywide, but how does your credit union stack up against true peers? Peer Suite gives leaders instant access to 20 years of industry data, peer benchmarks, and goal-aligned performance analysis. Start your free 30-day trial of Peer Suite.

The post 3 Ways To Market For HELOC Success appeared first on CreditUnions.com.

Homeownership is a key component of the American dream; it’s also part of the credit union dream. If a member holds a mortgage or home equity loan with the credit union, odds are they’ve got other products there as well. It’s one step closer to being their primary financial institution. Although not all credit unions offer mortgages, home loans of all kinds remain a notable driver of industry growth.

This week is all mortgages on CreditUnions.com. In the days to come, keep your eyes peeled for:

• Three ways credit union marketers at TAPCO Credit Union, Baton Rouge Telco FCU, and Visions FCU are making the most of growth in the home equity market. Read more in “3 Ways To Market For HELOC Success.”
• How a rethink of closing costs, rate relief, and employer partnerships helped 7 17 Credit Union build an affordable housing mortgage program that works. Read more in “Keep The Mortgage. Ditch The Fees.”
• Two takes from TAPCO Credit Union and Appalachian Community FCU on how the two cooperatives are looking to manufactured housing to bring affordable housing to younger borrowers, rural borrowers, low-income communities, and more. Read more in “Small House, Big Opportunity.”
• New insights into the industry’s mortgage performance as of the first quarter of 2026. Read more in “Mortgage Lending Is Back, But It Looks Different.”
• Plus, exclusive client content that digs into the nuanced mortgage opportunity taking shape around first-time buyers, shifting rate dynamics, and emerging risk signals. Read more in “Mortgage Lending Rebounds With New Borrowers And New Risks.”

Now it’s your turn. What’s driving mortgage growth for your credit union? Or, if you’re pulling back, why? We want to hear how your shop is approaching the home loan market. Drop us a line, and we might feature your story on CreditUnions.com.

The post Home Is Where The Heart (And More) Is appeared first on CreditUnions.com.

Manufactured homes are gaining ground as an option for affordable housing. Although prices have risen in recent years, so, too, has the quality of manufactured homes. Despite lingering stereotypes, some credit unions consider manufactured housing a solid fit for specific borrowers and markets.

“We’re in a rural area, and it’s a good niche product for us,” says Vicki Gobble, chief financial officer at Appalachian Community Federal Credit Union ($183.7M, Kingsport, TN), which has offered manufactured home loans for decades. “Not a lot of institutions in our area will do these. For a rural area, it’s an affordable housing product that helps our members get into a home they otherwise wouldn’t be able to.”

Partnerships with local manufactured home dealers have helped ACFCU gain a foothold in this space. Such relationships are key to the credit union’s success. Gobble says other lenders could pursue similar partnerships but question the value of such properties compared to traditional homes rather than the ability of borrowers to repay.

“I think it’s more of a perception of the collateral itself,” the CFO says.

Don’t stop here. Lower prices and better amenities are making pre-built homes an appealing option for credit unions looking to bolster their balance sheet and borrowers stymied by the affordable housing crisis. Read more in “Manufactured Homes Help Close The Housing Affordability Gap.”

Relationships And Realty

Appalachian Community does not advertise its manufactured home loan directly to members but works with manufacturers and local real estate companies to keep the pipeline flowing. In this way, it is similar to indirect lending.

For credit unions considering this space, Gobble says dealer relationships are key. The credit union must have a solid relationship with the dealer to ensure it’s providing the same level of service members would expect to receive at the credit union.

“It’s important to partner with a reputable company,” Gobble says. “Don’t just partner with an individual contractor.”

When it comes to making the loan, the credit union runs its manufactured home loans through the mortgage department rather than through the consumer side of the shop, and Gobble says they perform well thanks both to strong member relationships and rigorous underwriting. The credit union requires that borrowers own the land — a purchase can be added to the deal as a land/home package with the vendor — and that the home sit on a permanent foundation.

The CFO is confident that the persistent high price of stick-built homes means the opportunity in manufactured housing isn’t going away anytime soon.

“We’re not in an area where prices are going to drop,” she says. “This isn’t an area they’ve overbuilt.”

The key, she says, is to change consumers’ pre-existing perceptions of manufactured homes.

“Getting people to understand how it’s built will help them get past that hump of the perception of the value,” she says.

Balance Sheet Capacity

On the opposite end of the continent, TAPCO Credit Union ($719.3, Fircrest, WA) also makes manufactured home loans, but they constitute less than 10% of its overall portfolio says Jeremy Mandery, chief retail and lending officer.

According to Mandery, only a few applications come in per month, but when they do, TAPCO is ready.

“We want to support affordable housing, especially those homes that are less expensive than the median price in our area,” he says. “We’re trying to provide financing that’s reasonable, that makes sense, and that generates a return for our membership.”

The credit union hasn’t formed any partnerships with manufacturing companies, so prospective buyers won’t see TAPCO advertising on sales lots, but Mandery is quick to note that’s because it simply doesn’t have the space on the balance sheet to do so.

“We haven’t established any relationships with manufacturers at this point as we don’t have the balance sheet space needed for this type of commitment,” he says. “If you’re going to go to a manufacturer and be tied up, you want the ability to write whatever they’re going to bring you.”

The Washington-based cooperative provides purchase and home equity loans for manufactured homes, although it only runs purchases through the mortgage side of the shop. If a consumer already owns the property and is looking to tap into equity, the consumer underwriters handle it.

Pricing is also equivalent to rates for stick-built homes.

“We charge the same interest rate whether you have a $1.5 million stick-built home on the water or a $250,000 manufactured home on the smallest piece of property in the metro area,” Mandery says. “We try to be as inclusive in our lending practices as we can.”

To keep an eye on the market, Mandery monitors the space through loan sales and participations to gain a sense of average loan-to-values, property ages, strong markets, risk levels, and more. He also monitors loss rates and often caps LTV at 80% rather than the 90% or higher it might lend on a stick-built home. But when it comes to underwriting, it approaches the process no differently than it would any other house.

“We’re not in the business of foreclosing on properties, so we try to take a person-centric review from an underwriting criteria,” Mandery says. “Are they a good credit risk? Do we think we’ll get paid back? Does the property have anything to do with that? If we think it will work, we try to write the loan.”

Although TAPCO is still testing the waters of manufactured home lending, Mandery says there’s plenty of room to grow.

“I think it’s a growth space simply because the housing market in many locations is just unattainable for people under 35 and making less than $150,000 a year,” Mandery says. “There’s going to be dramatically more demand for it, which leads to an opportunity for credit unions like ours to be back in the first-time homebuyer space again, whereas today it’s just very difficult to be.”

Looking for gaps in your lending strategy? Manufactured home lending isn’t just a niche — it’s a lens into the markets underserved by traditional mortgage products. Peer+ helps credit unions uncover patterns in home lending performance, identify where members lack access, and benchmark approval rates against peers. Request a demo to see Peer+ in action.

The post Small House, Big Opportunity: 2 Takes On Manufactured Home Loans appeared first on CreditUnions.com.

LOAN ORIGINATIONS
FOR U.S. CREDIT UNIONS
SOURCE: CALLAHAN & ASSOCIATES

• A sharp increase in first mortgage volume underpinned a jump in total real estate originations in the first quarter of 2026. That segment reached its highest level since 2022.
• Declines in mortgage rates, although modest, spurred demand, with borrowers re-entering the market after a prolonged pause during peak rate conditions. Increases in mortgage rates could jeopardize this trend.
• The market is moving away from a purchase-only dynamic. Early signs of refinance activity are reappearing alongside purchase originations, driven by borrowers with higher-rate loans taken out in the past two-and-a-half years.
• Borrowers are acting opportunistically — re-engaging quickly when rates improve, even slightly — suggesting this is a short-term lending opportunity rather than a sustained refinance wave.
• Although origination volumes are improving, the trend represents selective re-entry into the market, not a broad normalization. Credit unions would be well-served to target their lending strategies.

Don’t stop here. Callahan clients can dive deeper into how shifting borrower behavior, product mix, and early risk signals are reshaping mortgage lending. The full analysis is available now on the Callahan client portal. Read it today.

The post Mortgage Lending Is Back, But It Looks Different appeared first on CreditUnions.com.

Top-Level Takeaways

• The old stigma of poorly constructed properties is fading. The design and amenities of modern manufactured homes can stand head-to-head with site-built homes.
• Lower cost of entry is attracting some younger borrowers, but older consumers also find them appealing as an option for downsizing.
• Just like indirect auto lending, relationships with the owners of manufactured home parks are crucial to success in this space.

A new-construction home with granite countertops, stainless steel appliances, and a built-in community, all for the (comparatively) low six figures?

This isn’t grandma’s manufactured home.

As sky-high real estate prices and an intimidating interest rate environment put traditional homeownership out of reach for many buyers, more consumers are turning to manufactured housing. In response, many credit unions are increasingly focusing on manufactured home loans to meet evolving member needs.

“This is the epitome of what we do as credit unions,” says Rob Overton, SVP of lending at Rogue Credit Union ($3.8B, Medford, OR), which has been in the manufactured home space since the early 2000s. “We try to find good solutions to help our members on their journey to financial wellbeing.”

Rogue dabbled in manufactured housing lending for years, but demand has skyrocketed. According to Overton, Rogue wrote four such loans in 2017. That jumped to 130 in 2025.

Some of that increased demand is tied to pressures in the broader real estate market, but Overton and other credit union lenders also cite the dramatically improved quality of such homes, especially in comparison to the stereotypical manufactured home.

“These homes are coming with granite countertops, quartz, all-electric, designed for ceiling fans, a fireplace — all those amenities you’d see in a traditional home are now being offered in a manufactured home,” explains Robyn Mannone, chief consumer lending officer at APG Federal Credit Union ($2.6B, Edgewood, MD).

Quality, Cost, And Community

Although manufactured homes are often positioned as a more affordable alternative to traditional housing, they aren’t insulated from broader market forces, says John Walters, general manager of manufactured home lending at Credit Human Federal Credit Union ($4.4B, San Antonio, TX). Better quality amenities plus rising costs for lumber and other construction materials all have also contributed to rising prices.

They’re up by how much? Think the regular real estate market is rough? Wait until you see how much manufactured home prices have risen by comparison. Dig into the data in “The Affordable Housing Crisis Goes Beyond Single-Family Homes.”

Still, these properties can be appealing to borrowers who want to downsize from larger homes and are choosing manufactured housing based on location and features rather than price alone. APGFCU and Rogue both work with manufactured park owners that cater to communities for residents age 55 and older.

Credit Human is the industry’s largest player in this space, and those communities have been a natural fit for the membership, which tends to skew slightly older, according to Walters.

“A lot of people have equity in their homes,” the GM says. “They’re either paying cash or putting a good down payment down on manufactured housing, so they reduce their monthly payments along with reducing their footprint.”

At Eagle Community Credit Union ($369.7M, Foothill Ranch, CA), California real estate prices have helped make these properties especially appealing.

“Residents are determining that manufactured homes are a viable alternative to purchasing traditional homes,” says Robert Thompson, chief lending officer. “We are seeing both first-time buyers and retirees seeing manufactured homes as an excellent option to homeownership.”

Oregon Governor Tina Kotek has to increase homeownership by at least 30,000 units by 2030 to address a housing shortage. That’s expected to be a boon for Rogue, where demand increased following wildfires that destroyed homes throughout its market.

“A lot of things are coming together that are going to see this product become a more accepted middle-of-the-road bridge, not a niche,” Overton says, noting that this could be a first step for some when they leave apartment life for a single-family unit. “It’ll be like a starter home, but much more luxurious and for the same type of money.”

Terms And Conditions Vary

There’s no one-size-fits-all model when it comes to pricing and underwriting manufactured home loans. At APGFCU, the loans fall under consumer lending and follows similar guidelines around debt-to-income and loan-to-value ratios. The organization requires money down for new and used properties and maxes out loan length at 20 years. It also offers home improvement loans, which helps owners gussy up the homes before they go back on the market.

“The parks want the property to be quality so they can turn them and they get another person in there,” Mannone says.

Credit Human uses risk-based pricing and because its manufactured home loans don’t require PMI, they carry a slightly higher interest rate than a traditional mortgage. Even with that higher rate, however, these homes often present a lower upfront cost of entry and fewer barriers to a down payment when compared to site-built homes.

But affordability alone doesn’t dictate how aggressively Credit Human pursues the space.

“Some of our competitors require billions of dollars a year in originations; we’re not that,” Walters says. “We can pick and choose where our production comes from and how much we need. The demand is out there; it’s just a matter of how much we want to be a player in it.”

Rather than marketing directly to consumers, Credit Human primarily works as an indirect lender, working directly with manufactured housing dealers and park owners. It has also created loan advisor roles that allow the credit union to have conversations with members and dealers while staying in compliance.

At Rogue, loans of up to $300,000 are available for a maximum term of 25 years. Overton says although leadership might discuss longer terms, a quarter-century seems to be the sweet spot.

“It’s rare that we get much pushback there because the payment is still very manageable,” he notes.

Like Credit Human, Rogue employs risk-based pricing for manufactured housing loans and set rates that are competitive with others in the market. According to Overton, credit quality has been strong, with little difference between applicants for manufactured and site-built homes.

“It used to be stereotyped that [manufactured home] people were low income, maybe had some credit problems,” he says. “That’s all gone by the wayside. Credit quality is equal across the board. This is an asset class that scares a lot of lenders, and it really shouldn’t.”

Overton says Rogue hasn’t charged-off any loans in this space in the past 24 months and delinquencies are in the single digits.

Location, Location, Location

The owners of manufactured home parks make their money by hosting those properties and generally charge tenants rent for that land. But lot rent has risen dramatically in some states, putting the squeeze on some manufactured homeowners or would-be borrowers.

Credit Human takes lot rent into consideration in the underwriting and approval process, weighing that against the applicant’s broader debt-to-income ratio. In some cases, that’s leading to denials.

“The biggest challenge people still have is affordability,” Walters says. “They’re more affordable, but they’re not free.”

According to Mannone at APGFCU, one key difference between manufactured homes and traditional mortgages is that the credit union runs manufactured home loans as title transactions rather than deeds. In that case, lot rent basically takes the place of annual property taxes, she says.

The parks APGFCU partners with also must approve the borrower based on their own stipulations. That process happens simultaneously with loan approval.

Lessons Learned

Similar to how lenders manage dealer relationships with indirect auto lending, sources say partnerships with home park owners and real estate agents are crucial to success in this space.

“It lends itself to being specialized,” says Walters, noting that Credit Human has three regional offices across the country, and approximately 20% of its manufactured housing team has been working in that space for more than two decades. “It helps our portfolio because we understand the business.”

Eagle Community’s Thompson suggests approaching manufactured home loans similar to old-fashioned mortgage lending.

“Just like with traditional mortgages, every single deal is unique,” he says. “Every borrower, every mobile home park, every park approval process is different. This is not a cookie-cutter operation, and you need the right people and processes in place to be successful.”

The biggest lesson from many lenders in this space might simply be not to overlook the opportunity.

“There’s a whole gamut of folks who we serve through this product,” Mannone says. “We don’t try to say it’s for first-time buyers or it’s a lower-income borrower. We present it to our community and our realtor partnerships as a homebuying option.”

The post Manufactured Homes Help Close The Housing Affordability Gap appeared first on CreditUnions.com.

The first quarter of 2025 offered a sign that three years of gradual asset-quality deterioration could be slowing; however, subsequent quarters defied that narrative and moved asset quality squarely back into the spotlight for credit unions and regulators.

Although 2025 was not a record year for increases in delinquency, repayment rates did steadily worsen. The overall loan delinquency rate closed the year at 1.02%, the highest level since the third quarter of 2013.

It is not easy for credit unions to address worsening asset quality without making some tough decisions. Digging deeper into the delinquency and charge-off numbers reveals interesting dynamics in product performance by type. Some product repayment rates have stabilized; other products — including some not historically prone to delinquency — have risen in alarming fashion.

ASSET QUALITY RATIO
FOR U.S. CREDIT UNIONS
SOURCE: CALLAHAN & ASSOCIATES

Dig Deeper Into The Credit Union Loan Portfolio

• First Mortgages — Delinquency has dropped slightly to 0.89%, but that’s still high enough to worry credit unions. Homeownership is the foundation of financial health for many U.S. households, and first mortgages are typically the last product to report higher delinquency.  When faced with tough budgetary choices, members usually opt to pay their mortgages before all other debts.
• Other Real Estate — Delinquency has increased to 0.78%. These loans are mostly HELOCs, which have dramatically increased in popularity in the past few years. Many homeowners have tapped into increased home equity to pay for purchases large and small or, more recently, to consolidate other debt. Other real estate net charge-offs remain microscopic, but they have increased 3 basis points annually to 0.05%.
• Commercial — Delinquency fell slightly on the quarter to 0.96%. This is down from last quarter but is 12 basis points higher than one year ago. Commercial lending might not be the priority of many credit union lending programs; however, it has grown as a percentage of credit union portfolios, which makes the rise in delinquency more troubling. Just as troubling is the multi-year increase in net charge-offs, jumping from a low of 0.02% in the first quarter of 2023 to 0.23% in the fourth quarter of 2025.
• Auto — On the brighter side, total auto delinquency held steady year-over-year at 0.96%, a welcome sign following the significant increases in auto delinquency that began in 2022. Although delinquency rates have not returned to pre-COVID levels, the fact total auto delinquency has increased just 6 basis points in the past two years is a welcome reprieve after it increased 48 basis points in the preceding two-year period.
• Credit Cards — Credit card delinquency stayed flat year-over-year, at 2.15%, a positive sign for credit unions and their members. Although steady credit card delinquency often suggests net charge-offs are increasing, this does not seem to be the case this time. Net charge-offs on credit cards have flatlined as well; beginning in 2024, they’ve held steady around 5.00%.

Ready To Read The Full Story? Callahan clients can access the full version of this article right now on the client portal. Read it today. Not yet a client but looking for expert insights to help you adapt to change, develop your organization’s leaders, and stay at the forefront of industry trends? Connect with our team to learn more. 

The post Asset Quality Takes An Uncomfortable Turn In 2025 appeared first on CreditUnions.com.

The Innovation Series is celebrating 2026 with a diverse slate of finalists whose breakthroughs are reshaping member experience, data and business intelligence, lending, employee engagement, fraud prevention, and digital member engagement — all with the power to help credit unions thrive in a rapidly evolving marketplace. Register for the Innovations In Reimagining The Lending Experience webinar  on Thursday, March 12th at 2PM EST.

Read on to learn more about this year’s finalists in lending:  Cloudvirga, Enable Technologies, Fuse, Suntell.

Cloudvirga:

Describe your Innovation:

Tropos is a configurable loan point-of-sale (POS) platform that sits in front of the loan origination system, connecting the core and third-party services through a unified, API-driven experience. The platform manages borrower and sales staff interactions, data intake, document collection, and real-time validations while seamlessly passing clean, structured data into the LOS. By acting as an intelligent engagement and integration layer, Tropos improves data quality, reduces rework, and enables credit unions to deliver faster, more consistent digital lending experiences without modifying their core or downstream systems.

What opportunity or challenge does it address?

Credit unions face increasing pressure to deliver modern, digital-first lending experiences while operating on fragmented legacy systems that were not designed to work together across all loan types (residential mortgage, consumer, auto, etc). Disconnected cores, LOS platforms, and third-party services often create inconsistent member experiences, duplicate data entry, and operational inefficiencies that slow decisioning and funding. Tropos addresses this challenge by acting as a flexible point-of-sale layer that unifies borrower and staff interactions, standardizes data capture, and integrates seamlessly with existing systems — allowing credit unions to modernize lending experiences, improve data quality, and scale efficiently without costly core or LOS replacements.

How does it increase member value?

Tropos increases member value by removing friction from the lending experience and giving members a faster, more transparent path from application to funding. By unifying data capture, document collection, and third-party integrations within a single point-of-sale experience, Tropos reduces repetitive questions, minimizes errors, and shortens turnaround times. Members benefit from intuitive digital interactions, real-time status visibility, and fewer follow-ups — while credit unions deliver a consistent, high-quality experience that reinforces trust, loyalty, and long-term member relationships.

What differentiates this innovation from competitors?

Tropos is differentiated by its role as a true system-agnostic point-of-sale layer that decouples the member experience from the underlying LOS, core, and third-party providers. Unlike POS solutions that are tightly coupled to a single LOS or require time-consuming and expensive customization, Tropos uses easily configurable workflows, API-driven integrations, and real-time customizations to adapt to each credit union’s existing ecosystem. This allows credit unions to modernize the member experience, maintain flexibility to change downstream systems, and avoid vendor lock-in—while preserving control over data, compliance, and operational processes.

Enable Technologies:

Describe your innovation.

Enable is redefining origination by bringing deposits and loans together on a single, AI-driven platform. We’ve built a unified experience that works seamlessly across digital, branch, and call center channels, powered by AI that guides both end users and frontline staff in real time. It’s not incremental improvement but rather it’s a fundamental shift in how financial institutions originate full long-lasting relationships.

What opportunity or challenge does it address?

For years, credit unions have been forced to operate with fragmented systems. One for deposits, another for lending, whereby creating friction for members, staff, and operations teams. Enable eliminates that disconnect. We address the growing need for speed, simplicity, and intelligence while helping institutions keep pace with rising expectations, compliance complexity, and competition from larger banks and fintechs.

How does it increase member value?

Members and business owners get faster decisions, fewer handoffs, and a more intuitive experience whether they’re opening an account, applying for credit, or bundling products in a single journey. Behind the scenes, AI helps surface the right products, answers questions instantly, and reduces errors which ultimately translates into better service, stronger relationships, and higher satisfaction.

What differentiates this innovation from competitors?

Most platforms still treat deposits and loans as separate workflows. Enable was built from day one as a unified platform with AI embedded at the core – not bolted on. As a member of the executive leadership team, I’ve had the great privilege of seeing Enable evolve rapidly alongside our amazing client partners — such as Nuvision Federal Credit Union ($3.9B, Huntington Beach, CA) and Meriwest Credit Union ($2.1B, San Jose, CA) — incorporating real-world feedback into smarter automation, conversational AI, and flexible configuration. That pace of innovation and our ability to deliver value quickly is what truly sets Enable apart. What further differentiates Enable is the experience behind the platform. Our founders and executive leadership team bring decades of hands-on experience partnering with more than 50+ credit unions with a proven track record of delivering on commitments and turning vision into reality. That history of execution exellence and the long-standing trust we’ve built with innovative credit union partners is something we take great pride in and continue to earn every day.

Fuse:

Describe your Innovation:

Fuse is an AI native loan origination system (LOS) and account opening (AO) for credit unions and other consumer lenders. Fuse is backed with $25M+ from the top-tier investors behind Chime and Alloy, being used by 100+ institutions including Navigant Credit Union ($4.1B, Smithfield, RI) and is the one LOS that FIS re-sells to top 50 banks (selected after reviewing 10+).

Credit unions need to automate to compete with the fintechs and top 10 banks. All traditional LOSs say their platform can deliver “up to 100% automation,” but since that has not materialized in decades, credit unions are rightfully skeptical. This is why Fuse sells its proactive automation money-back guarantee:

• Proactive: Many CUs stall on automation because their staff is overwhelmed with the needs of the day to day. We know people are 71% more likely to go to the gym if there’s a personal trainer nudging them, and Fuse implemented a similar nudge. Every two weeks, the CU meets with a Fuse automation specialist who showcases the automation opportunities identified by our Proactive AI Lending Copilot, and the aligned automations get implemented by either Fuse’s team or the CU. The goal is to get 1%+ more automated every week, leading to >60% true improvements year on year.
• Money-Back Guarantee: CUs are skeptical of being promised opportunities that then do not materialize. That is why Fuse implemented the first industry money-back guarantee in both product capabilities and company practices. Our contract incorporates guarantees so they do not need to rely on salesmanship or nice words. Some examples:
  • Product Capabilities: The system is able to decision on 100% of their core data and board 100% clean applications to their core without post-boarding clean up. The system can lead to 100% auto-decision based on any field or source of data.
  • Company Practices: Integrations are free forever (install and maintain), can be self-built by the client in a 100% open ecosystem or built by Fuse with a guarantee of delivery in under one month, and can be bought directly from partners rather than through mark-ups of up to 2x.
  • Implementation risk coverage: Fuse deploys its own team to run the full implementation rather than relying on CU staff, and assumes the risk on timelines by tying commercial commitments to agreed go-live dates, including covering additional costs from the prior LOS if those contracts need to be extended.
  • Ongoing improvements: After go-live, Fuse contractually commits to meeting every two weeks to review and implement new automation opportunities and provides real-time chat support with short SLAs and an assigned team that knows the institution’s configuration and can unblock issues quickly.

What opportunity or challenge does it address?

The core issue is automation skepticism arising from failed vendor promises, forcing CUs into costly manual processes that hinder staff focus and member experience. Fuse counters this with an AI-native LOS platform offering proactive automation with a money-back guarantee. This shifts risk to Fuse, ensuring guaranteed, measurable improvements in efficiency, staff utilization, and member satisfaction through modern technology.

How does it increase member value?

• Streamlined process with no rekeying: Fuse pulls data directly from the core, so members are not asked to enter the same information twice.
• Flexible channel hopping: Members can start an application online and finish it in the branch, or the other way around, without losing progress.
• More valuable staff interactions: With staff work reduced two- or three-fold, employees can focus their time and energy on sharing advice and cross-promotions.

What differentiates this innovation from competitors?

• • Model: Legacy LOS deliver a system, then rely on tickets and internal bandwidth. Fuse takes ownership for automation outcomes, not just feature delivery.
  • Technology: Our AI copilot continuously scans underwriting and funding workflows in production to surface concrete automation opportunities. Institutions can move toward near-total automation while setting their own pace and risk thresholds.

• Operating cadence: Every two weeks, our team meets with the credit union, reviews real data and brings specific rule, workflow and integration changes, then helps implement them so improvements actually go live.
• Alignment with credit unions: We do not charge for integrations and keep an open ecosystem, so credit unions can use the partners and tools they prefer without extra friction or hidden costs.

Suntell:

Describe your Innovation:

Square 1 Credit Suite is Suntell’s purpose-built credit lifecycle platform for member business lending at credit unions. It was designed specifically to help institutions bring MBL in-house and scale it responsibly, rather than relying on adapted bank systems, outsourced workflows, or external decisioning models.

Square 1 standardizes how business credit is evaluated, documented, and reviewed, allowing lending teams to make faster loan decisions while maintaining consistent credit standards. By creating clarity across lenders, reviewers, and leadership, credit unions are better able to explain decisions, support exam expectations, and deliver a more predictable experience for business members.

The innovation behind Square 1 is its focus on credit discipline as a growth enabler. Credit unions retain ownership and control of their lending process, enabling them to modernize MBL operations in a way that strengthens member relationships rather than outsourcing them.

What opportunity or challenge does it address?

Credit unions face increasing demand for member business lending, but many struggle to grow MBL without slowing decisions or losing consistency. Manual processes, fragmented tools, and lender-to-lender variability often lead to longer turnaround times and difficulty clearly explaining outcomes to members, boards, and examiners.

To manage this complexity, institutions often rely on manual workarounds, spreadsheets, email-driven processes, or disconnected systems to bridge gaps in the lending process. While these approaches can help in the short term, they can limit control, reduce transparency, and make it difficult to scale MBL in a sustainable way.

Square 1 addresses this challenge by giving credit unions a structured framework to manage business credit internally. The opportunity it unlocks is responsible growth. Institutions can move faster, maintain disciplined credit standards, and deliver more consistent experiences for business members without introducing unnecessary complexity.

How does it increase member value?

Square 1 increases member value by improving how credit unions respond to business lending requests. By standardizing credit analysis and credit file content, lending teams reduce rework and delays, resulting in faster loan decisions and clearer communication with members.

For business members, this creates a more predictable and transparent experience. Decisions are based on consistent credit standards rather than individual interpretation, which builds trust and confidence in the credit union as a reliable financial partner. Members spend less time waiting for updates and more time focusing on their businesses.

By enabling credit unions to manage member business lending internally, Square 1 also strengthens long-term relationships. Credit unions maintain direct ownership of decisions and outcomes, allowing them to support local businesses with dependable access to credit while staying true to their cooperative mission.

What differentiates this innovation from competitors?

Square 1 is differentiated by how it aligns with the operational reality of member business lending at credit unions. In many institutions, MBL teams operate with distinct workflows and priorities that differ from enterprise-wide banking systems.

Square 1 was designed to deliver value within that environment by providing a cohesive credit lifecycle framework for underwriting, credit file consistency, and portfolio oversight. Institutions are able to improve credit discipline and decision speed without first undertaking complex, enterprise-scale integration projects.

This allows credit unions to strengthen member business lending without overengineering their technology environment. Teams can focus first on credit consistency, decision quality, and adoption, while maintaining flexibility to evolve processes and integrations over time as needs change.

Check Out The Other Innovation Series Categories

• Employee Enablement
• AI-Powered Member Experience
• Data And Decision Intelligence
• Fraud Prevention And Resolution
• Digital Member Engagement

The post Meet The Finalists For The 2026 Innovation Series: Reimagining The Lending Experience appeared first on CreditUnions.com.

No one knows your members like you. And because of that, no one is in a better position to help them navigate financial decisions and build long-term stability. Today’s credit union industry has more than 140 million members; that’s more than 140 million opportunities to impact lives and communities across the country.

Lending is one of the primary ways credit unions help members achieve their financial goals. That’s why this week on CreditUnions.com, we’re examining how shifting economic conditions are reshaping credit union lending strategies — from the growing role of signature loans to the unintended consequences of ultra-low interest rates, and from collaborative solutions to affordable housing to overlooked cost pressures facing manufactured homebuyers.

Tap into our expertise to learn more about:

• How the signature loan market is changing. Spoiler alert: it’s not (just) because of fintechs.
• How five credit unions and their league are helping members with the right pay histories and pay stubs achieve homeownership.
• What a 10% interest rate cap on credit cards could mean for borrowers and credit unions alike.
• Why ultra-low interest rates might not serve the long-term interests of would-be home buyers.
• What new data revels about the affordable housing crisis beyond single-family homes.

Lending is evolving, and so are credit unions’ strategies. Got a story or tip? Share it with us, and join the conversation on CreditUnions.com.

The post 140 Million Reasons To Lend appeared first on CreditUnions.com.

The prospect of a return to 0% interest rates is more enticing than ever for would-be borrowers. After all, rising rates have dampened affordability in the United States. However, are ultra-low rates really in the best interest of the U.S. economy?

As of early February, the federal funds target range set by the Federal Reserve was 3.5% to 3.75%. The Trump Administration is pressuring the Fed to reduce interest rates in hopes of spurring the economy. Traditional thinking also holds that lower rates reduce monthly housing payments, improving affordability and helping Americans afford homes.

But will this work as promised?

A closer examination of the past few times the Federal Reserve has drastically lowered interest rates suggests the central bank is smart to proceed with caution.

The Impact Of 0% Rates On The U.S. Mortgage Market

Following both the Great Recession and the COVID-19 pandemic, policymakers were concerned that lending would completely stall as the economy cratered. In response, the Federal Reserve lowered the benchmark federal funds rate to 0%, deploying what is known as a zero interest rate policy (ZIRP).

Low rates and a cratered housing market made homes more affordable during the initial recovery following the Great Recession; however, affordability has been falling since 2013. Low rates fueled mortgage demand, which in turn boosted housing demand. Unfortunately, structural supply constraints — including chronic underbuilding following the Great Recession, restrictive zoning in many high-demand markets, and rising construction and labor costs — limited the market’s ability to respond to that demand and home values rose sharply. Pandemic-era migration patterns further intensified regional housing pressures. Together, these forces amplified price increases in a housing market already constrained on the supply side, putting homeownership out of reach for a growing share of would-be borrowers.

MEDIAN HOME SALES PRICE
FOR U.S. HOUSES
SOURCE: FEDERAL RESERVE

According to data on housing affordability from the National Association of Realtors, the median U.S. family income in 2025 was only 1% higher than the qualifying income needed to purchase a median-priced home, signaling a tight market for would-be buyers. By comparison, prior to 2020, the Housing Affordability Index regularly exceeded 160, indicating that the typical family earned far more than was required to qualify for a median-priced home. Increases in home prices are reflected in not only the income of home buyers but also their ages, with first-time homebuyers today more likely to be in their 40s than 20s. What’s more, data from NAR shows the share of first-time buyers has dropped to an all-time low of 21%.

The increase in age of first-time homebuyers coupled with the decline in first-timers as a percentage of total homebuyers has contributed to a K-shaped recovery and negatively impacted perceptions of the U.S. economy, contributing to financial nihilism and low consumer confidence.

The Impact Of 0% Rates On U.S. Credit Unions

Low interest rates have impacted borrowers’ relationship with mortgages, and such changes in borrowers’ behavior have far-reaching consequences.

During both 0% interest rate periods, loans per member rose. In fact, credit union members now hold 20% more products with credit unions than they did before the most recent low-interest rate era. As rates go up, however, the lock-in effect pushes members to hold onto their mortgages, further reducing housing inventory, inflating prices, and shutting out would-be homebuyers.

During this period, yield on loans and investments fell from all-time highs to lows that only recently started to turn around. The low-yield environment pushed credit unions to tap alternative revenue streams, such as other operating income or mortgage sales to the secondary market.

Despite the disruption to their earnings model, credit unions have managed to maintain a healthy return on assets and continue serving members. That resilience underscores the central lesson of past rate-cut cycles: Ultra-low rates might feel like a boost to affordability, but they can create unintended challenges that ripple through housing markets, lenders, and the members credit unions serve.

This is an excerpt from a Callahan Exclusive Client Content. Callahan clients can access the full version of this article right now on the client portal. Read it today.

The post Will Ultra-Low Interest Rates Improve Housing Affordability? appeared first on CreditUnions.com.

An estimated 20 million Americans live in manufactured homes, also known as mobile homes, representing approximately 7% of the population. By comparison, about 85 million American households, or roughly two-thirds of all households, live in detached single-family homes. The rapid increases in homeownership costs for traditional homes and homeowners has been well documented, but those in manufactured homes are facing a crisis of their own.

The average cost of single manufactured home — as opposed to double units or double-wides, as they’re sometimes called — has increased by 66% in the past five years, according to Federal Reserve data. Compare that with the average cost of a single-family home, which is up by 38% in that same period. Double home costs are up more than 44% in that same time period.

Avg U.S. home sales price

U.S. Manufactured home price

Strategic Insights

• Some credit union lenders say the costs are rising in part because of better amenities in the homes, including more durable exteriors, nicer kitchens and baths, and more. Loan structures and development policies also play a role.
• The manufactured home itself isn’t the full story. Homeowners also need a place to set those units and typically opt to rent lot space in a mobile home park. A September 2025 NPR report says lot rental costs have risen roughly 45% in the past decade.
• Manufactured homes also tend to carry higher insurance premiums because they present a higher risk and can be costly to repair or replace. Those costs might also vary depending on if, or how, the property is secured, including whether it sits on bricks, a traditional foundation, or something else.
• Costs for manufactured housing continue to rise in lockstep with single-family homes despite a shorter projected lifespan. They average 30 to 55 years; however, they can last much longer depending on the quality of the materials used in construction and if they are set on a permanent foundation. A traditional single-family home typically lasts 50 years but also can serve homeowners much longer.
• Of note, although the cost of manufactured homes are rising at rates that exceed those of single-family homes, single-family homes are still much more expensive in absolute dollar amount than manufactured homes.

The post The Affordable Housing Crisis Goes Beyond Single-Family Homes appeared first on CreditUnions.com.