NET’s loan folder has increased almost $15 million in the past two years
NET Credit Union has been recognized by CUNA, Credit Union National Association, for our outstanding efforts and work in improving our loan department. NET Credit Union received the Excellence in Lending Award in Las Vegas, Nevada, competing against over 4,000 credit unions in the category.
Over the past two years, NET Credit Union dedicated ourselves in improving our lending program by focusing on FICO scores and debt-to-income ratios which has helped extend credit to more of our members. The company as a whole worked hard on creating new auto loan lending products and promotions, and launched a Credit Score Analysis program, which helps members understand the importance of financial health. With 80% of its loan portfolio in A+ and A quality loans, the credit union wanted to say yes to more creditworthy borrowers, allowing members opportunity to get loans which were previously turned away. Both programs were successes and increased our loan folder from $49.8 million in 2014 to $64.1 million by midyear 2016.
The launch of these new programs was not only created to benefit NET Credit Union, but more importantly be a helping hand to our members. Our members aren’t just customers, they are family. For more information on our products and services, visit our website for details and follow us on all of our social media sites. Our goal is to keep charging on for our members so that they continue to Bank on NET!