Why Education Lending Challenges Credit Unions

Mick Olson, President and CEO of TopLine Financial Credit Union, joins 22 Minutes in Lending host Vince Passione to talk growth, strategy, and the overlooked opportunity of education lending. With $1.1B in assets and 70,000+ members, TopLine has proven education loans can be profitable, member-friendly, and a pipeline for lifelong relationships. So why do so many credit unions still sit on the sidelines? Mick breaks down the misconceptions, the risk-sharing model that works, and how TopLine turned hesitation into a growth driver.Key Takeaways:01:10 – From $35 to $1.1B, TopLine’s 90-year glow-up from seven AT&T employees to 70K members.03:27 – Cutting the average member age by a decade, with education lending in the mix.04:49 – Post-conversion lines out the door prove face-to-face isn’t dead.07:44 – Where unsecured and education loans fit without blowing up balance sheet risk.10:27 – Why LendKey’s structure finally made education lending a yes.11:33 – The mindset holding credit unions back from education lending.13:26 – Federal cuts will spike private loan demand, and why credit unions can’t ignore it.16:06 – How TopLine pairs culture, brand, and a balanced product mix to stand out.18:13 – Why the tax exemption fight is always there, and the questions credit unions can ask to stay ready.19:02 – Why credit union’s need their own regulator.20:14 – TopLine’s five-year focus: more education, more counseling, more real help for members living paycheck-to-paycheck.Resources Mentioned:TopLine Financial Credit Union: https://www.toplinecu.com/Member Student Lending: https://www.memberstudentlending.com/LendKey: https://www.lendkey.com/Thanks 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 #Fintech #22MinutesInLending

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