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LenderHub

SWBC's LenderHub blog is a one-stop resource for lenders.

 

Add Value to Premium Checking with Voluntary Protection Products

Increasing non-interest income to help cover costs and introducing new services while also staying true to your financial institution's mission can be tricky. One way to do so is by introducing new products that complement your current offerings and bring value to your new and existing consumer base. To that end, voluntary protection products, often available in combination with premium checking accounts, are a great option for financial institutions to add to their product and service portfolios.

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Three Tips for Retaining Customers with Overdrawn Accounts

No matter the industry, customer retention should play a critical role in your business model—and financial institutions are no exception. While acquiring new customers is always top of mind for financial institutions, retaining existing customers might be a smarter business move when it comes to growing and remaining profitable.

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How Credit Card Delinquencies Affect Your Bottom Line

It's a sad fact that good news is rarely 100% positive; usually we can expect some undesirable result from sunny situations. The U.S. economy's recovery after the Great Recession is a perfect example. While we're pleased about low unemployment and consumer spending in support of employment and economic growth, the lending industry is beginning to see a negative byproduct of that improved economy: rising credit card delinquency.

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Split-Dollar Insurance: Life Insurance for Executives

If you're looking for a unique benefit solution that will provide your financial institution's key executives with life insurance and supplemental retirement benefits, split-dollar life insurance fits the bill perfectly.

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Warning: ATM Global Cash-Out Scheme

This is an important alert to inform you about a scheme that could affect the payments industry.

"Unlimited Operation" Schemes Threaten Financial Institutions

Unspecified reporting obtained by the FBI indicates cyber criminals are planning to conduct a global automated teller machine (ATM) cash-out scheme in the coming days, likely associated with an unknown card issuer breach and commonly referred to as an “unlimited operation.”

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August 2018 Market Commentary

This week, emerging market investors were greeted by a plunging Turkish Lira, which as of this writing is down more than 15% relative to the major developed market currencies (see chart below). As carry trades are unwound as investors head for safety and lick their wounds, we are reminded of the volatility that erupted in emerging market currencies between 1998 and 2002.

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How Home Equity Lending Can Deepen Customer Relationships

One of the main sources of wealth among American families is homeowner equity. According to a report from the Federal Reserve1, household net worth in this country rose to a new record, hitting $98.74 trillion. But what does record-breaking homeownership mean in today’s world and how will it affect your financial institution? Increasing wealth from homeownership is positive for our economy, but one lingering concern is rising interest rates and increased home prices. We know that these numbers are projected to rise which could change consumer buying habits, i.e. homeowners may opt to renovate their home rather than sale and purchase a new one. By increasing your focus on home equity lending, you can provide your customers with options that may benefit them and their current situations.

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How Baby Boomers May Hold the Key to Auto Lending Sales

By now, you've probably heard the sad auto industry news, that vehicle sales are down this year and are not expected to rebound anytime soon. Basically, auto manufacturers did too good a job in recent years, building cars that last longer than ever and still run properly. As a result, consumers are not forced to replace their vehicles as soon or as often as in years past.

Of course, unfortunately for the auto lending industry, as auto sales stall, so do lending sales.

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Don’t Be Caught Unprepared for the New Excise Tax

As you may have heard, there’s a new tax that affects tax-exempt entities, including credit unions. In response to complaints from taxed corporations that tax-exempt organizations are enjoying preferential treatment, the 2017 Tax Act included a 21% excise tax on compensation exceeding $1 million paid to specific employees of tax-exempt organizations.

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5 Common Collections Challenges (and How You Can Overcome Them)

Collections plays a critical a role in your institution’s financial health. Limited resources, personnel, and time are common denominators for many collections departments. I've worked with financial institutions to streamline their collections operations for years, and we typically see operations afflicted with the same challenges and obstacles. As the economy and consumer sentiment continue to improve, financial institutions can expect to see lending increase.

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