Digital Acquisition for Credit Unions

When we launched Clutch in 2020, we benefited from the strongest tailwinds we could’ve imagined … and didn’t even realize! Due to COVID lockdowns, retail businesses had to close their branches. At the same time, interest rates dropped to an all-time low and consumers received stimulus checks to fuel the economy. Credit Unions had to […]

The Case for A16Z, CMFG, Curql and Credit Unions

I moved to San Francisco in 2011. The starter package for international students strongly recommended: ‘open a Stanford Federal Credit Union account, they’ll even give you a credit card.’ At Business School, I met Chris Coleman, the resident car enthusiast in our class. Chris stood out because he put all his savings into a wrecked […]

Loan Portal Performance: How to Assess Dropoffs and Improve Applicants’ Experience

Chances are that loan applications begin and end at your LOS provider. For many Credit Unions this is a portal offered from MeridianLink (LoansPQ), L360 (Origence), or Temenos. And while these software solutions are a great “1 size fits all” solution to consumer lending, we’ll examine the exact efficiency of these lending funnels. Where do […]

Creative Ways Credit Unions Can Increase Share of Wallet and Help Members Save

15–30% of Credit Union online loan applications are for personal loans. Members often take out unsecured loans for debt consolidation, unplanned expenses, or newer options like “Buy Now, Pay Later.” At the core, a personal loan request is a Member saying: “I need money.” But instead of only providing the loan in its most expensive […]

Switch to Save: What it Takes to Motivate Members to Switch to Your Credit Union

Refinancing is a great way to help your Credit Union Members or to acquire new ones. But how much do you actually need to save your Member to motivate them to switch to your loan products? In this piece, we examine 8,493 consumers who were offered savings through refinancing. We analyzed what “Offer” was enough […]

How Well Are Your Lending Products Serving Your Credit Union Members?

For many credit unions, the answer is often unclear. How do you measure whether your lending products truly meet the needs of your members? While this is a complex question, two powerful metrics can provide valuable insight into overall lending performance: Share of wallet – What percentage of a member’s loan products are held at […]