Organisations
The metrics that growing credit unions measure differently
Every credit union board asks the same question: is our loan book growing safely? The data to answer it is already in your systems. The problem is that most dashboards show you the numbers without telling you what they mean. Especially when trying to track credit union lending metrics effectively. Decision volumes, turnaround times, delinquency…
Read MoreNestEgg News: Four features coming soon
NestEgg will be rolling out four new features over the coming weeks. Here’s a summary of what’s on the way and what it means for your credit union. Decision Summary Panel Every referred loan application means manual work: lending officers compare the rules across different risk bandings before they can reach a decision. Speed is…
Read MoreThe £165m question – and three others worth asking at ILCU
The Irish League of Credit Unions (ILCU) Conference is a great moment to step back from day-to-day operations and ask the strategic questions that decide where your credit union will be in five years’ time. Whether you’re looking for fresh ideas to grow your loan book, ways to attract younger members, a stronger evidence base…
Read MoreStrengthening the Credit Committee
Credit committees are built on something banks have never managed to replicate: a group of people who know their community. Who believe every application deserves a fair hearing. That’s a genuine strength. However focusing too much on assessing individual applications misses a much bigger strategic opportunity. Credit committees with aggregated data can consider the wider…
Read MoreLoan recycling: the hidden reason credit union loan books stall
Some credit unions are processing millions in lending each year but aren’t growing at all. The reason is loan recycling. Successfully addressing this is a direct route to sustainable growth. Why the loan recycling rate matters more than you think The loan recycling rate measures what proportion of a credit union’s opening loan book was…
Read MoreNo more marketing without measurement
Credit union marketing analytics are improving – but the gap between spend and insight remains significant. Social media campaigns, email outreach, partnerships, broker channels and community events are just some examples of marketing activities. But campaigns cost money and staff time. Critically, when loans arrive, there’s little insight into their origin. As a result, it’s…
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