While many credit unions grapple with low liquidity and a high cost of borrowing, Iowa-based Veridian seems to be bucking the trend. In this episode, the credit union's CLO, Kara Van Wert, discusses how her team is winning with younger members, using fintech to drive growth, and embracing AI to improve underwriting and streamline borrowing ... and the results are there for all to see.

Key Takeaways:

1. 01.25: An overview of why Veridian's average membership age is so much younger than their peer set.
2. 02.49: Reflections on risk management, particularly relating to ongoing loan portfolios that were inflated in the wake of the pandemic.
3. 05.25: Kara discusses how Veridian's mindset regarding fintech has evolved from viewing them purely as competitors to seeing them as critical partners.
4. 07.17: The impact of AI on Veridian's lending and underwriting processes, in the past, present, and in the future.
5. 11.10: How the credit union looks to mitigate bias in AI models and ensure inclusive lending.
6. 14.25: How Veridian has grown loans by 12% year-on-year, from $6.5 billion to $7.2 billion.
7. 18.00: Exploring Veridian's auto program and how much that has contributed to their strong loan growth.
8. 19.57: The challenges of increasing cost of funds, and how credit unions can navigate them.

Resources Mentioned:

Veridian Credit Union: www.veridiancu.org

LendKey: www.LendKey.com

Zest AI: www.zest.ai

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.

#CreditUnions #Fintech #22MinutesInLending

Mick Olson, President and CEO of TopLine Financial Credit Union, joins 22 Minutes in Lending host Vince Passione to talk growth, strategy, and the overlooked opportunity of education lending. With $1.1B in assets and 70,000+ members, TopLine has proven education loans can be profitable, member-friendly, and a pipeline for lifelong relationships. So why do so many credit unions still sit on the sidelines? Mick breaks down the misconceptions, the risk-sharing model that works, and how TopLine turned hesitation into a growth driver.

Key Takeaways:

1. 01:10 – From $35 to $1.1B, TopLine’s 90-year glow-up from seven AT&T employees to 70K members.
2. 03:27 – Cutting the average member age by a decade, with education lending in the mix.
3. 04:49 – Post-conversion lines out the door prove face-to-face isn’t dead.
4. 07:44 – Where unsecured and education loans fit without blowing up balance sheet risk.
5. 10:27 – Why LendKey’s structure finally made education lending a yes.
6. 11:33 – The mindset holding credit unions back from education lending.
7. 13:26 – Federal cuts will spike private loan demand, and why credit unions can’t ignore it.
8. 16:06 – How TopLine pairs culture, brand, and a balanced product mix to stand out.
9. 18:13 – Why the tax exemption fight is always there, and the questions credit unions can ask to stay ready.
10. 19:02 – Why credit union’s need their own regulator.
11. 20:14 – TopLine’s five-year focus: more education, more counseling, more real help for members living paycheck-to-paycheck.

Resources Mentioned:

TopLine Financial Credit Union: https://www.toplinecu.com/

Member Student Lending: https://www.memberstudentlending.com/

LendKey: https://www.lendkey.com/

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.

#CreditUnions #Fintech #22MinutesInLending

From Wall Street to fintech, James Chemplavil has seen both sides of lending. After 16 years underwriting corporate debt at Barings, he launched Salus to tackle a problem too many hardworking people face: being denied small but critical loans. Now as Founder and CEO, James is helping credit unions use alternative data and automation to extend microloans, attract younger members, and cut charge-offs. In this episode of 22 Minutes in Lending, James joins host Vince Passione to share the Salus origin story, why credit unions are the ideal partners, and how technology is rewriting the future of microfinance.

Key Takeaways

0:44 – James shares the personal story that pushed him from underwriting billion-dollar debt at Barings to building Salus, designed to fix access to small but critical loans.

02:52 – How collaboration, community focus, and tech gaps made credit unions the perfect proving ground for Salus.

04:21 – James explains why “cash in vs. cash out” is the new king metric, and how traditional scores miss millions of good borrowers.

06:10 – How Salus cuts staff time out of microloan processing, making $500 loans make sense for credit unions.

08:25 – The ideal credit union for microloans? Those wanting to pull in Gen Z and those doubling down on community impact.

09:34 – Predictive analytics that surface member stress before they default give credit unions a shot to be proactive, not reactive.

13:41 – A peek at how transaction data separates two “identical” 620-score borrowers into wildly different risk profiles.

15:31 – How Salus slashes charge-offs from 27% to as low as 3%, giving credit unions control over their risk vs. reach.

17:52 – James explains why the play isn’t P&L—it’s the lifetime value of turning Gen Z and millennials into members for life.

19:59 – Why earned wage access is the front door to member acquisition, deposits, relationships, and sticky growth.

21:50 – Salus’ roadmap: helping members graduate from microloans to auto and mortgage loans.

Resources Mentioned:

Salus: https://www.salusfintech.com/

LendKey: https://www.lendkey.com/

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.

#CreditUnions #Fintech #22MinutesInLending #Microloans #LendingInnovation