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.
Nicholas Hinrichsen, Founder & CEO of Clutch | Stanford MBA, sold his previous business Carlypso to Carvana (a CMFG Ventures Portfolio Company).
You will be re-directed to the Virginia League page to complete your registration
This webinar is offered through TRGroup, a collaboration of Indiana, Kentucky, Louisiana, Mississippi, Tennessee, Virginia, and West Virginia credit union leagues. Webinar and registration hosted by the Mississippi Credit Union Association.