PODCAST: Digital loan | CUNA News


As credit unions contemplate post-pandemic operations, it’s clear that some of the solutions created or improved in 2020 are here to stay.

Like other areas of credit unions, credit services have gone through significant process changes. Many principals, underwriters and other employees have taken to working in virtual environments and adapting lending processes to the digital space.

At the same time, credit services have also stepped up to provide loans and paycheck protection program (PPP) options to members facing financial problems due to the pandemic.

This episode of the CUNA News podcast stars Robby Holditch, director of the risk and accounting group at Moody’s Analytics.

Drawing on his experience in providing accounting expertise to credit unions, Holditch shares key lessons from the digitalization of lending processes. It also discusses how to deal with PPP and credit quality issues in a loan forbearance or deferral, including the impact on current expected credit loss provisions (CECL).

Despite the current challenges of weak loan growth, Holditch says there are opportunities for credit unions to improve their margins if they know where to look.

You can listen to the CUNA News podcast in the Apple iTunes Store, Google Podcasts, Spotify, and Stitcher Radio.

In this episode:

2:10: Takeaways from digital transformation

5:09: COVID-19 as a digital “driving force”

6:04 am: PPP and credit quality issues in forbearance

10:15 am: The effect of forbearance on CECL allocations

12:17 p.m .: What else we know about CECL requirements

4:23 p.m .: Meeting the challenge of weak loan growth

7:11 p.m .: Resources and tips for setting priorities

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