Loan growth: Quality is as important as quantity

Enterprise-grade audit technology can mitigate loan defect risk.

Published March 29, 2021

CUNA | March 29, 2021 | by Amanda Phillips, EVP of Compliance, ACES Quality Management

According to the latest survey from Cornerstone Advisors, mortgage and auto loans are No. 1 and 2 on credit union executives’ list of lending priorities for 2021, and it’s easy to see why. Auto lending has always formed the core of credit unions’ consumer lending strategy. Even with mortgage interest rates rising from 2020’s historic lows, rates are still low enough to encourage purchase business in 2021. However, when the goal is lending growth, prepare to manage the associated risk of loan defects.

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