Episode description
In this episode, Vince Passione, CEO of LendKey, sits down with Dan Berger, President and CEO of NAFCU, to discuss the evolving world of lending and the role of credit unions in today’s competitive financial market.
Key Takeaways:
12:02 - Small creditors often cooperate, pooling their assets for better results.
13:40 - CUSOs have played an integral role in enabling innovation and building lending opportunities for credit unions over the years.
14:49 - 2021 The CUSO rule empowers the credit industry to compete more dynamically with fintechs.
15:39 - Discussion on the difference between loan participations and eligible obligations.
17:10 - Loan participations can help credit unions distribute risk more effectively.
18:30 - Future collaboration between fintechs and credit unions: The importance of partnership.
20:40 - Trust is a paramount value in the financial world, and credit unions hold a significant advantage in this area.
Resources Mentioned:
Dan Berger - https://www.linkedin.com/in/bdanberger/
Vince Passione - https://www.linkedin.com/in/vincepassione/
NAFCU | LinkedIn - https://www.linkedin.com/company/nafcu/
NAFCU | Website - https://www.nafcu.org/
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#BusinessLoan #CreditUnion #Lending #Fintech