LEADERSHIP & STRATEGY
Don’ t lose sight of the power and importance of people. Our work is a people business and our frontline teams in retail and the contact centre are our secret sauce. People remain essential for moments that require empathy, judgment and deeper context. Empathy and accountability without clarity and impact results in a missed opportunity. This requires focus, and in a sea of potential opportunity, effective prioritisation and direction to enable the team to deliver. To quote Brené Brown: clear is kind, unclear is unkind.
What trends in credit and lending have you noticed recently?
» Portfolio mix is shifting: auto lending keeps shrinking driven by pulled-back indirect lending, tariffs and elevated vehicle prices; real estate has picked up the slack: first mortgages and second liens now make up 47.1 % of credit union loan portfolios, up three points in five years, with first mortgage growth rebounding as lower rates sparked refinancing. Revolving credit is picking up the strain as credit card balances at credit unions grew in Q1 and hit record levels with members leaning on HELOCs and credit cards for flexibility as prices have risen nearly 25 % since 2021; this is part confidence, part households using revolving credit to manage cash flow. Lending economics is being reshaped by embedded finance, B2B and BNPL-style models and a growing private credit ecosystem, pushing institutions toward API-first, AI-driven platforms. Fintechs are already using AI and alternative data for faster, more flexible offers, which forces credit unions to partner, build, or risk disintermediation. The upside is more inclusive of underwriting and better risk pricing – but it comes with heavier model governance, fair-lending controls and transparent member communication requirements.
Could there be room for greater focus on how companies approach accessible financial well-being?
» Absolutely. Many people do not have the time, access, or resources to work with a traditional financial advisor, even though they may be the people who would benefit most from timely guidance.
58 November 2026