22 Minutes in Lending: Conversations about Credit Unions, Fintech, and Future of Finance

In this episode, Vince Passione, CEO of LendKey, sits down with Dan Berger, President and CEO of NAFCU, to discuss the evolving world of lending and the role of credit unions in today’s competitive financial market.

Key Takeaways:

12:02 - Small creditors often cooperate, pooling their assets for better results.

13:40 - CUSOs have played an integral role in enabling innovation and building lending opportunities for credit unions over the years.

14:49 - 2021 The CUSO rule empowers the credit industry to compete more dynamically with fintechs.

15:39 - Discussion on the difference between loan participations and eligible obligations.

17:10 - Loan participations can help credit unions distribute risk more effectively.

18:30 - Future collaboration between fintechs and credit unions: The importance of partnership.

20:40 - Trust is a paramount value in the financial world, and credit unions hold a significant advantage in this area.

Resources Mentioned:

Dan Berger - https://www.linkedin.com/in/bdanberger/

Vince Passione - https://www.linkedin.com/in/vincepassione/

NAFCU | LinkedIn - https://www.linkedin.com/company/nafcu/

NAFCU | Website - https://www.nafcu.org/

Thanks for listening to the 22 Minutes in Lending podcast. If you enjoyed this episode, please leave a 5-star review to help get the word out about the show. And be sure to subscribe so you never miss another insightful conversation.

#BusinessLoan #CreditUnion #Lending #Fintech

In this inaugural episode of 22 Minutes in Lending, Dan Berger, President and CEO of the National Association of Federally-Insured Credit Unions (NAFCU), provides an in-depth look into the ever-evolving landscape of the credit union industry and its partnerships.

Dan discusses the transformational journey of NAFCU, emphasizing its cultural significance and impact on the broader financial services sector. The progression from an endorsement model to a business development relationship stands as a testament to the changing paradigms of the industry.

The significance of advocacy and lobbying in today’s regulatory environment is also discussed. Dan underscores that lobbying extends beyond the confines of digital communication, and highlights the importance of genuine, personal relationships in this space.

Key Takeaways:



05:22 - The traditional endorsement model’s significance in the credit union landscape.

06:55 - The shift from endorsement strategies to more inclusive business development frameworks.

08:29 - NAFCU’s dedication to education and enabling new business opportunities.

10:13 - The role and power of thought leadership in the fintech space.

10:22 - NAFCU’s unique “extreme member service” culture and its member-first approach.

12:22 - The importance of tangible relationships in lobbying and advocacy.

Resources Mentioned:

Dan Berger - https://www.linkedin.com/in/bdanberger/

Vince Passione - https://www.linkedin.com/in/vincepassione/

NAFCU | LinkedIn - https://www.linkedin.com/company/nafcu/

NAFCU | Website - https://www.nafcu.org/

Thanks for listening to the 22 Minutes in Lending podcast. If you enjoyed this episode, please leave a 5-star review to help get the word out about the show. And be sure to subscribe so you never miss another insightful conversation.

#BusinessLoan #CreditUnion #Lending #Fintech

22 Minutes in Lending is a podcast that brings you leading conversations on lending. Join host Vince Passione as he engages with industry leaders and discusses trends and current news in the lending industry. Here, we hone in on how it’s about more than just the balance sheet, and focus on what it takes to build meaningful and lasting lending relationships.