How Can Credit Unions Compete with Online Lenders?
New Webinar for CDCUs Offering Small Business Loans
Online lenders market themselves as quick and easy. Small business borrowers can apply and be approved for a loan over the internet in no time. Online lenders aren’t regulated, their numbers are growing and they are spending a large portion of their revenue to acquire new customers. How can CDCUs compete? Learn how in this webinar from the Federation and Spark. We’ll cover:
- The explosion of online lenders – who’s who, what are they doing and what we can learn from them?
- How CDCUs are responding
- How you can use people, process, technology and customer experience to compete in the rapidly changing world of small business lending
Nick Elders, Vice President of Technology Solutions and Services
Community Reinvestment Fund, USA
Nick Elders is responsible for CRF’s information technology group including establishing, planning and administering the overall policies and goals of the information technology department and CRF as a whole. Nick has held a variety of roles within the organization before becoming a Vice President. He received his BA in Economics from Macalester College, is a Microsoft Certified Systems Administrator, and holds an Economic Development Financial Professional (EDFP) certification from the National Development Council.
Blake Myers, Senior Technology Consultant
National Federation of Community Development Credit Unions
Blake is a technology consultant and a CU Breakthrough consultant at the Federation. He is experienced in mortgage and business lending, collections, operations. He serves on the Board of Directors of Ithaca Hours, one of the most well-know local currencies in the United States. Blake also advises and supports socially-minded start-ups in the electronic payments industry that seek to develop community-centric electronic payment systems. He graduated with honors of cum laude with a degree in Applied Economics from Cornell University in 2003.
This webinar is brought to you by the Federation and Community Reinvestment Fund, USA
In September 2015, the Federation announced a partnership with the Minneapolis-based Community Reinvestment Fund, USA (CRF) to provide a Small Business Administration (SBA)-compliant business lending solution for community development credit unions. The collaboration marks a milestone for the community development finance field, harnessing the expertise, tools and technologies across diverse institutions to reach new populations, establish greater efficiencies, and increase investment in underserved communities.
About the Federation
The National Federation of Community Development Credit Unions is a certified CDFI Intermediary representing community development credit unions (CDCUs). The Federation’s member CDCUs provide credit, savings, transaction services and financial education to more than 5 million residents of low-income urban, rural and reservation-based communities across the US, and hold over $45 billion in community-controlled assets. Founded in 1974, the Federation is headquartered in Lower Manhattan with offices in Madison, WI. We offer a wide range of advocacy, educational, training, investment, marketing, and outreach programs to support and assist CDCUs. For more information about the Federation and its programs, please visit www.cdcu.coop.
About CRF, USA:
Community Reinvestment Fund, USA (CRF), a national non-profit, helps change the lives of people living in economically disadvantaged communities. CRF provides capital to communities through its network of lending partners, investors, and contributors to create jobs and turn struggling neighborhoods into flourishing communities.Community Reinvestment Fund, USA (CRF), a national non-profit, helps change the lives of people living in economically disadvantaged communities. CRF provides capital to communities through its network of lending partners, investors, and contributors to create jobs and turn struggling neighborhoods into flourishing communities.