High prices for new and used cars were the norm in 2021, but if there were any hopes that prices would go back down this year, they may have already been dashed. In a recent interview with CNBC, the head of data and analytics for J.D. Power, Tyson Jominy, revealed that an estimated 89% of […]
What Are Consumers Looking For In A Credit Card?
The credit card market remains competitive as ever, and credit unions will need to work hard this year if they want their card offerings to stand out. As for consumers, they are becoming more discerning as to what kinds of features and rewards they want from their card. A recent report from PYMNTS.com found that […]
Predicting The 2022 Housing Market
2021 was a rough year for home buyers. High prices and low inventory made it difficult for many prospective buyers, including first-timers, to find the home of their dreams. However, 2022 could see the market level out and “normalize,” and in turn, make it much easier for aspiring homeowners. The Mortgage Reports talked to some […]
Prepare For Social Media Changes In 2022
Social media trends continue to come and go, and it can be difficult for marketing teams to keep up at times. However, it’s already beginning to look like 2022 will be a game-changing year for social media and credit union marketing teams. Keep a close eye on these trends which, according to Hootsuite, could end […]
Auto Loan Residual Values At Historic Highs
The COVID-19 pandemic brought about disruptions and changes to the auto market that likely won’t be seen again once the world is fully back to normal. While buyers and lenders alike have been hit hard by the negative consequences, such as lack of inventory due to the shortage of key components, current auto loan borrowers […]
The Battle For Holiday Spending 2021
For many, 2021 was yet another challenging year, but one notable difference between this year and the last is a stronger holiday shopping season. More than a quarter of Americans started their holiday shopping as early as September, according to a survey from CreditCards.com, 62% of respondents said they planned on making their holiday purchases […]
Mortgage Lending Trends For 2022
Mortgage lending remained strong for credit unions throughout 2021 despite the current challenges of supply and pricing in the housing market. At the same time, the way business is done is continuing to evolve and become more digitized, and it will continue to do so in 2022. Here are couple of mortgage trends that, according […]
Predicting Social Media Trends For 2022
As your credit union is making its plans for 2022, you must not forget about making social media a part of your marketing plans. While we don’t know what the upcoming year has in store for social media, Red Website Design have made some predictions for what marketing trends we could see in 2022. Here […]
As Consumers Defer Purchases, What Will Become Of Lending?
For credit unions looking to make more mortgages and auto loans, there’s no doubt that there is demand for both homes and cars, and plenty of American consumers do have the means necessary to make such a large purchase. The problem is that those same consumers are not making the choice to buy right now. […]
Is Debit Here To Stay?
Credit cards have continued to remain popular over the years, but there are signs that their popularity may be waning. According to PULSE’s 2021 Issuer Study, while debit card transactions were slightly down, total debit spending grew 8% year-over-year. Much of that growth is due to the ticket sizes of these transactions, which increased from […]