Government relief efforts and deferral programs enacted at financial institutions have helped consumers through the economic impact of the COVID-19 pandemic. Once relief efforts end, delinquency that may have been hidden by those relief efforts will reveal itself and the collections process will begin. In this new reality, the collections…
Dinny LechmanDecember 11, 2020
Credit Unions have access to enormous amounts of data. Examining this data is invaluable in gaining insight about your organization. With competition in the financial services sector growing ever more intense, Credit Unions see the need to adopt a data-driven approach to stay competitive but quickly find that becoming a…
Dinny LechmanNovember 30, 2020
It has been nearly 8 months since the COVID-19 pandemic swept the nation, bringing with it sweeping economic upheaval. With that came relief efforts from the federal government and guidance from regulatory agencies. Credit unions quickly answered the call, helping members who were adversely affected by the pandemic in the…
Dinny LechmanNovember 6, 2020
The credit score is THE key attribute lenders use to determine if they will offer credit to a borrower and if so at what rate. It is also key in analyzing loan portfolio risk as credit scores change from loan origination. It is vital that the credit reports of consumers…
Dinny LechmanOctober 7, 2020
As COVID-19 was causing widespread panic throughout United States, businesses were shuttered, threatening the financial security of our members. Answering the call, Credit Unions jumped into action aiding members. The NCUA and other regulatory bodies also jumped into action. On March 22, 2020, a memo was released suggesting widespread regulatory…
TTA-AdminSeptember 4, 2020
For many credit unions, real estate loans represent the largest percentage of their total loan balance. In these uncertain times, understanding the risk of loss due to default on your existing real estate loan portfolio is important. The impact of a loss to your financial performance has two factors, the…
Dinny LechmanAugust 6, 2020
On June 23rd the NCUA published Interagency Examiner Guidance for Assessing Safety and Soundness Considering the Effect of the COVID-19 Pandemic on Institutions. The pandemic has led to substantial strain and stresses on financial institutions and the guidance suggests that examiners should be flexible in their assessments. Here is a…
Dinny LechmanJune 30, 2020
Credit Unions have a desire to help their members in this time of crisis by offering skip-a-pay and forbearance options as an easy way to help bridge members through a temporary crisis. However, is this a temporary or a long-term crisis? Economists are conflicted in their projections of America’s…
Dinny LechmanMay 29, 2020
There are 3 truths for any experience, your truth, my truth and what really happened. This is because we see the world through our own lens, filtered by bias. A behavioral bias is an irrational behavior or belief that influences our decision process. Understanding bias can you help you mitigate…
Dinny LechmanMay 8, 2020
We’re moving into a period of unprecedented uncertainty. A time in which our government has communicated its commitment to take a data driven approach to managing our health, economy and general well-being through the COVID-19 pandemic. It may be an understatement to say that there have been conflicting interpretations of…
TTA-AdminMay 7, 2020