Indirect Lending and Your Credit Union
The indirect lending revolution is here, paving the way for credit unions to maximize their profits and diversify their investment portfolios. As you know, refinancing is a large target market for credit unions, and there are tons of fintechs popping up around indirect lending. With Sync1 Systems’ loan origination software, however, you can replace your current indirect lending program or complement it safely and securely.
Now, if you don’t have indirect lending set up, you may be wondering what benefits you could receive from this option. By establishing and maintaining a successful indirect lending program, your credit union can appropriate a larger market share. And, properly managed, indirect lending can help you increase:
Loan volume
New member growth
Revenue
Incorporating indirect lending sources into your service offerings can have a positive impact on the lending experience of your members. You also have a real opportunity to educate them on the application process and how to increase their credit health.
Another benefit of indirect lending options is that you can often expand your portfolio and ensure the greatest returns for your members. But doing this requires careful and continued vigilance on behalf of your credit union management team. Sync1 Systems’ loan origination technology allows your automation to be built and provides a faster application/approval process. This also benefits your management team by reclaiming time for them to focus on the member experience.
With all that said, Sync1 Systems is in your corner with Next Generation loan origination technology that offers software to ensure your credit union’s loan applications are simple, fast, flexible, and painless. Sync1 Systems’ technology eliminates negative credit applicants and quickly approves applicants that meet specific credit requirements.
To discuss alternative lending and loan origination technology, please contact us and set up a demo.