CU 2.0 Podcast Episode 181 Walt Agius on CUSOs, Indirect Car Loans, and Lending in the 21st Century
by Robert McGarvey
Walt Agius knows credit union lending. And he especially knows what credit unions need to to stay competitive in the 21st century.
Consider this podcast a deep dive into today’s lending.
The guest is Walt Agius, CEO of Lendsys, a fintech, and also CU Lending Edge, a CUSO that today focuses on car loans but, says Agius, he is looking to extend the portfolio.
In the past he was CEO of CU Sol, a CUSO, and also CEO of California Bear Credit Union.
He really knows lending, especially car loans.
In this podcast Agius offers tips about how to make indirect auto lending work for the credit union (and, yes, he knows many credit unions have grumbles about indirect lending).
He also throws out the idea that every credit union should be looking hard at syndicating every loan that comes in the door. That strategy dramatically limits risk. He said he would want to keep perhaps 10% of most loans but he would want to sell the other 90% of other participants – and this collaborative way is a particularly credit union mindset.
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