Community lenders: The best-kept secret in town

Is the key to credit union success just better marketing? On this episode, host Vince Passione is joined by Barry Kirby, co-founder and chief revenue officer of Union Credit, to discuss the products and placements that could revolutionize consumer preferences.Key takeaways:2:07 - How a “marketplace” helps expand credit unions’ institutional reach and brand awareness.5:25 - Opportunities for credit unions to leverage credit cards to reach younger audiences.8:28 - The ‘08 financial crisis shifted consumer trends away from credit cards and towards personal loans–but those trends are now reversing again.10:46 - A key risk for community lenders is marketing budget.12:09 - Is there a liquidity crisis for credit unions? Some leaders are starting to consider the temporary challenges of the last few years as macroscopic norms.13:26 - Securing payroll is critical for credit unions to be seen as a member’s primary financial institution.15:59 - Can digital marketing help credit unions more effectively penetrate low-income communities to increase and improve financial wellness?18:34 - Focusing on the most pressing challenges and identifying the right partners to address those is the most effective way for credit unions to navigate the booming fintech ecosystem.21:00 How fintech strategically benefits from credit union investors.Resources Mentioned:https://www.unioncredit.app/ Union Credithttps://www.trustage.com/ventures TruStage Ventureshttps://www.curql.com/ CurqlThanks for listening to the 22 Minutes in Lending podcast. If you enjoyed this episode, please leave a 5-star review to help get the word out about the show and be sure to subscribe so you never miss another insightful conversation.#CreditUnions #Lending #CreditCards #Marketing

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