by LendKey: Lending Made Simple
22 Minutes in Lending is a podcast that brings you leading conversations on lending. Join host Vince Passione as he engages with industry leaders and discusses trends and current news in the lending industry. Here, we hone in on how it’s about more than just the balance sheet, and focus on what it takes to build meaningful and lasting lending relationships.
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Publishing Since
7/6/2023
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April 21, 2025
<p>Millions of consumers are overpaying on their auto loans, yet few know refinancing is an option. In this episode, Nicholas Goraczkowski, president of iLending, lays out the opportunity for credit unions to boost loan portfolios, improve member financial health, and capture market share in a booming auto refinance space.</p><p><br></p><p><strong>Key takeaways:</strong></p><p>00.58: Nick explains the primary reasons consumers don't refinance auto loans—lack of awareness and fear based on negative mortgage refinance experiences.</p><p><br></p><p>02.52: Insights on the $1.7 trillion auto loan market, and how borrowers seek refinance not just for interest savings, but primarily for payment flexibility.</p><p><br></p><p>05.13: Why refinanced auto loans typically outperform indirect auto loans.</p><p><br></p><p>06.25: Definition of "back-end" products (loan protection) and how shifting loan-to-value ratios impact approvals and risk management.</p><p><br></p><p>09.24: Impact of Federal Reserve interest rate policies on refinance demand, and an overview of the strategic adjustments lenders are making for 2025.</p><p><br></p><p>12.13: How credit unions can benefit from fintech partnerships to attract new member segments without cannibalizing existing business.</p><p><br></p><p>14.21: Why efficient, accurate retitling processes are crucial to refinancing success and how iLending approaches this.</p><p><br></p><p>17.22: Nick’s best practices on transparently selling optional loan protection products, ensuring full regulatory compliance.</p><p><br></p><p>21.35: Key factors shaping the auto refinance market, including vehicle values, leasing trends, and the competitive landscape.</p><p><br></p><p><br></p><p><strong>Resources Mentioned:</strong></p><ul><li><a href="http://www.ilendingcarloanrefinancing.com" target="_blank" style="color: rgb(16, 60, 192);">www.ilendingcarloanrefinancing.com</a><span style="color: rgb(0, 0, 0);"> iLending</span></li></ul><p><br></p><p>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.</p><p><br></p><p>#CreditUnions #Fintech #22MinutesInLending #AutoLoans</p>
April 7, 2025
<p>With relentless technological advances, generational shifts in employment trends, and upended perceptions of “community”, traditional deposit strategies may no longer work for credit unions. In this episode, we speak with Ron Shevlin of Cornerstone Advisors to explore how fintech has paved the way for credit union innovation. </p><p><br></p><p><strong>Key takeaways:</strong></p><p>00.55: A decade-long annual study skewed overly positive when conducted in December 2024, but uncertainty about the regulatory environment would likely see credit union leaders respond much more cautiously now, just a few months later.</p><p>02.55: The biggest myth credit unions tell themselves is that people are their greatest assets–but credit unions live or die through their digital experiences.</p><p>03.59: How direct deposit relationships may not be the sticky experience credit unions have traditionally thought–and how fintech have turned that theory on its head through smart market segmentation.</p><p>07.02: Gen Z and Millennials are more savvy about investing than their older counterparts were at the same age, and fintech are capitalizing on that emerging market.</p><p>09.36: Community banking isn’t dead, but the “community” now means something else; it’s no longer geographically based. Credit unions need to become smarter about how they cater to those niche markets.</p><p>13.20: Credit unions have a head start on fintech to secure these markets, because they’re already a known entity with market traction.</p><p>14.10: How credit unions could learn from SoFi’s success and elevate their product strategy.</p><p>18.30: Digital experience is a credit union’s product.</p><p>19.44: Should credit unions be investing directly in fintech, and should their members be concerned if the investments don’t deliver profit?</p><p>22.12: Embedded finance isn’t just about fintech; large institutions like Walmart and Gerber have been using embedded finance to capture and retain market share for years.</p><p><br></p><p><strong>Resources Mentioned:</strong></p><ul><li><a href="http://www.robinhood.com" target="_blank" style="color: rgb(16, 60, 192);">www.robinhood.com</a><span style="color: rgb(0, 0, 0);"> Robin Hood</span></li><li><a href="https://www.chime.com" target="_blank" style="color: rgb(16, 60, 192);">www.chime.com</a><span style="color: rgb(0, 0, 0);"> Chime</span></li><li><a href="https://panaceafinancial.com/" target="_blank" style="color: rgb(16, 60, 192);">panaceafinancial.com</a><span style="color: rgb(0, 0, 0);"> Panacea</span></li><li><a href="http://www.hustlfinancial.com" target="_blank" style="color: rgb(16, 60, 192);">www.hustlfinancial.com</a> Vantage West’s Hustl</li><li><a href="http://www.sofi.com" target="_blank" style="color: rgb(16, 60, 192);">www.sofi.com</a><span style="color: rgb(0, 0, 0);"> SoFi</span></li><li><a href="https://www.curql.com/" target="_blank" style="color: rgb(16, 60, 192);">www.curql.com</a><span style="color: rgb(0, 0, 0);"> Curql</span></li><li><a href="https://www.trustage.com/ventures" target="_blank" style="color: rgb(16, 60, 192);">www.trustage.com/ventures</a><span style="color: rgb(0, 0, 0);"> TruStage Ventures</span></li></ul><p><br></p><p>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.</p><p><br></p><p>#CreditUnions #Fintech #Lending #GrowthStrategies</p>
March 25, 2025
<p>Join student lending expert Mark Kantrowitz as he unpacks the drastic Department of Education layoffs, how these changes will impact federal and private student loans—and how credit unions are primed to bridge the gap, and support millions of members through the chaos and confusion.</p><p><br></p><p><strong>Key takeaways:</strong></p><p>01.07: An overview of the Trump administration’s proposed cuts to the Department of Education, and the implications on student loan, debt, and forgiveness programs.</p><p>04.39: Credit unions need to be informed and prepared to help student borrowers navigate any ensuing chaos–particularly if the ombudsman in charge of complaints is curtailed.</p><p>05.46: The Budget Blueprint that passed the House involves cuts that exceed those already announced by the Trump administration, so more cuts should be anticipated.</p><p>06.31: How states are not in a position to pick-up the slack and/or take over student lending, so private lenders like credit unions are vital.</p><p>07.48: Privatizing or selling the trillion-dollar-plus Federal loan balance sheet is not an option, despite what the Trump administration claims.</p><p>10.05: The implications of these cuts on credit union lending strategies, and how loan consolidation could be a way credit unions can support stressed and financially stretched students.</p><p>16.21: Credit unions need to prepare for a lot of chaos and confusion–and ensure they’re informed and able to answer questions and provide solutions.</p><p><br></p><p><br></p><p><strong>Resources Mentioned:</strong></p><ul><li><a href="http://www.lendkey.com/lend/private-student-loans" target="_blank" style="color: rgb(16, 60, 192);">www.lendkey.com/lend/private-student-loans</a><span style="color: rgb(0, 0, 0);"> LendKey’s student lending</span></li></ul><p><br></p><p>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.</p><p><br></p><p>#CreditUnions #StudentLending #FinancialAid</p>
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