Home improvement lending can maximize revenue
What if focusing on this market could increase your credit union’s revenue with low risk? Through LEVERAGE’s partnership with LendKey, the leading lending-as-a-service provider to more than 300 financial institutions, credit unions have easier access to prime consumer loan participations. Focused on the $300 billion home improvement market, credit unions can gain access to loans made to prime homeowner borrowers and benefit from multiple tactics to further mitigate risk.
LendKey’s unique solution allows lenders access to participation loans on a recurring basis, which minimizes on-going diligence and maximizes access to new loan volume. Lenders benefit from fractional ownership in loans, which broadens their portfolio and enhances risk mitigation.
“This turnkey loan participation program has been well received by our credit unions providing access to high-quality loans with a strong focus on risk mitigation,” said Steve Willis, SVP/COO of LEVERAGE. “This solution with our proven partner can make a tremendous impact on the bottom line to ensure this is a solid investment for your credit union.”
To-date, LendKey has helped credit union and bank partners disburse more than $2.6 billion to prime borrowers.