Lending

Credit union share of the credit card market is at a record high but there are concerns that this debt could begin to sour if the economy turns.

The British startup OakNorth sees U.S. community and regional banks as good prospects for its lending technology.

The Raleigh, N.C.-based institution said it also has more than 500 employees.

During the National Credit Union Collections Alliance conference, experts shared best practices on several topics, including navigating member bankruptcies and positioning auto loans for a downturn.

CUNA Mutual Group's February trends report showed that growth in auto loans, mortgages and membership had slowed.

The Peoria, Ill.-based institution also saw increases in lending and net worth.

By Mastercard’s own reckoning, the point-of-sale financing space is a $1.8 trillion market in the U.S. alone, making its Vyze acquisition a natural way to pursue an opportunity that’s being gobbled up by fintechs and card alternatives.

The Illinois-based credit union, which recently announced an expanded field of membership, saw loans rise by nearly 7% in 2018.

2018 was mixed bag for credit unions in the Wolverine State, with membership and lending still seeing positive numbers but down from previous years.

The Bedford, Ind.-based credit union distributed a $2.7 million dividend to members in recognition of a year that saw loan growth exceed 9%.