Episode description

On this episode, host Vince Passione talks mortgage lending, consumer behaviors, credit-building and financial wellness with Richard Wada, Chief Lending Officer of Patelco Credit Union.

Key takeaways:

0:00 - Intro

1:12 - Patelco Credit Union overview

1:59 - The value of diversifying a loan portfolio.

4:35 - Challenges and changes of mortgage books in a high-rate environment

7:56 - How partnerships can help credit unions scale loans outside of traditional lending parameters

10:21 - How Patelco is skewing younger on new members

13:09 - The importance and value of creating credit union products that incentivize good financial behaviors and improve financial wellbeing

15:51 - Shifts in managing transactional accounts to maximize member engagement

17:53 - The most critical marketing lesson for credit unions.

Resources Mentioned:

https://www.patelco.org Patelco Credit Union

https://www.calhfa.ca.gov California Finance Housing Authority

https://www.mycumortgage.com myCUmortgage

https://www.patelco.org/credit-cards-and-loans/personal-loans ScoreUp

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#CreditUnions #Lending #HomeLoans #Mortgages