What do millennials want in a loan?

first_imgDuring fall planning meetings for the past several years, directors and management have been wrestling with a couple questions that often go unanswered: How does the credit union attract younger members, and what do millennials want from credit unions, especially concerning loans?It’s no secret that millennials—those ages 18 to 34 in 2015—are attracted to online lending. And with 53.5 million members, they are the largest share of the workforce, greater than the Baby Boomers, according to the Pew Research Center.Millennials are the prime market for loans.Millennials also place a premium on the user experience. As digital natives, they are used to going online and ordering what they want and when they want it—instant gratification.Online lenders allow borrowers to complete an application and get an answer within minutes, and funding follows in a few days. Going to a branch and waiting in line for a loan is fast becoming a thing of the past. continue reading » 8SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Analytics help credit unions manage portfolio risk

first_img 3SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Analytics enhance how credit unions view risk, but such measurements often appear convoluted and not easily relatable.A better way to understand risk-based analytics is to think of risk in two distinct ways: default risk and loss given default.Default risk (credit risk) normally is measured at the loan level, and is a rating that captures the likelihood that borrowers will not repay their full loans. That means the credit union may lose principle and interest payments if the borrower becomes delinquent.Although credit scores act as the industry standard in quantifying credit risk, you might also want to consider these questions when building your default risk model:How much has the borrower’s credit score migrated since origination?Is there a co-borrower on the loan?Is the borrower currently delinquent on this or another loan?Where does the borrower stand on bankruptcy navigation indexes or debt-to-income estimators? continue reading »last_img read more

With settlement, NFL stadium clears hurdle

first_imgUSC Trustee Edward Roski Jr.’s proposed NFL stadium is one step closer to making its LA debut.The city of Walnut agreed to drop its lawsuit Tuesday against the building of an NFL stadium in the neighboring City of Industry, in return for a $9 million payment deal and other incentives, the Pasadena Star-News reported.Walnut filed the lawsuit in March against the City of Industry and Roski-chaired Majestic Realty Co., insisting the Industry City Council approved the $800 million venue without reviewing and discussing its environmental and traffic impact.Roski and Majestic Realty lobbied extensively to persuade the California State Assembly to ease the California Environmental Quality Act on the 75,000-seat development, arguing it would create 18,000 jobs. At the time, lobbyists for Los Angeles County were ordered to work against the bill.The state assembly then passed a bill that waived the act on Sept. 11, according to the Whittier Daily News.When the bill reached the State Senate, the Senate decided to send it back to Industry and Majestic Realty to be negotiated with the city of Walnut.Specifics of the settlement entail that Industry will pay Walnut $9 million for traffic improvements in the local area, as well as make an annual payment to a Walnut “community fund.” The annual payment will vary year to year, depending on how many events are held at the stadium.Industry also assured that it will control traffic and noise around the stadium, and will employ groups of local officials to guide and control traffic on event days. Industry also said events held at the stadium will not run past 10 p.m., the Pasadena Star-News reported.Walnut City Council members voted 3-1 Tuesday to approve the settlement.However, the Industry City Council will vote whether or not to approve the settlement Thursday.If Industry doesn’t approve the settlement, the Senate agreed to hold a special meeting to discuss the bill again before the end of the month, according to the Pasadena Star-News.last_img read more

Asaph Mwebaze departs Nyamityobora

first_imgMwebaze took over at Nyamityobora last November (file photo)MBARARA – According to reports, Asaph Mwebaze has stepped down as Nyamityobora FC head coach.This comes after the Abanyakare were defeated 2-0 by Express FC in one of the two StarTimes Uganda Premier League games played on Wednesday.The loss left them second from bottom with 12 points accumulated in their first 19 games this season.Reports of Mwebaze’s departure were confirmed by Nyamityobora’s manager Sulait Makumbi late in the night on Wednesday.Yes. It is true that the head coach (Mwebaze) has resigned because of the poor run of results at the club, said Makumbi.“At the moment, we have no one in charge and soon the club management will convene to seek a way forward.Mwebaze’s departure is attributed to poor results and internal fighting between officials and players.Mwebaze has been in charge of Nyamityobora for 13 competitive fixtures, 12 in the League. He has managed only three victories and lost 8.The former Maroons and Onduparaka tactician, joined the Abanyakare in late November, replacing James Odoch in the aftermath of the club’s 6-0 loss against KCCA FC.He leaves Nyamityobora second from bottom with just 11 games to play.Since promotion, Nyamityobora have won and drawn three games apiece with 13 losses.Their next game will see them make the long trip to face Paidha Black Angels in Arua next week.Comments Tags: asaph mwebazeJames OdochNyamityobora FCTooro United StarTimes Uganda Premier Leaguelast_img read more