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Credit unions, most of them, want more small business loans on their books but few credit unions know how to speedily and profitably process small business loan applications and consequently most are lagging when it comes to booking business.

Meet Alex McLeod, a serial startup entrepreneur who now is tackling thee small business loan market with AI powered software that her company, Parlay Financial, is now selling to credit unions.

Her key message: succeeding in the small business marketplace requires the ability to offer fast verdicts on a loan app - same day preferably. And because many of these loans are small, machines have to carry a lot of the load.

The rest of her message is that the technology to enable all this is at hand. ANd that’s the game changer that just may help many credit unions to finally succeed at small business lending.

Heads up: the show begins with around five minutes where we learn Alex;s journey to now and Parlay Financial. Most of these shows have similar chat at the beginning but usually that winds up on the cutting room floor. Not this time. You’ll know why when you hear this story.

Listen up.

Like what you are hearing? Find out how you can help sponsor this podcast here. Very affordable sponsorship packages are available. Email rjmcgarvey@gmail.com

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Find out more about CU2.0 and the digital transformation of credit unions here. It's a journey every credit union needs to take. Pronto

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On the show today is Peter Rice, CEO of Hanscom Federal Credit Union, a $1.9 billion institution headquartered in Boston that took flight in 1951 at Hanscom Air Force Base.

Rice is a repeat guest. His first appearance came in 2021 when he was Chief Banking Officer at Workers Bank. That episode has been reposted as Greatest Hit #25.

On this show Rice’s mind roams across the many issues credit unions are now wrestling with - the possible loss of the federal income tax exemption, possible changes at NCUA in the DOGE restructuring of Washington DC, the retirement of America's Credit Union’s CEO Jim Nussle, Hanscom's acquisition of The People’s Bank (Mayland), pending regulatory approval, and a new WealthTrek facility in Government Center, Boston that is reimagining banking today and tomorrow.

But there’s more. We also talk about Rice’s walks on the Camino de Santiago, where he has three times earned a compostela, a certificate of completion, and he muses about writing a management book about the Camino. By the way your podcast host has earned two Camino compostelas, in separate walks.

And there’s even a detour into the political history of Ireland, where Rice grew up.

This is a show with lots to unpack.

Listen up. And listen again.

Like what you are hearing? Find out how you can help sponsor this podcast here. Very affordable sponsorship packages are available. Email rjmcgarvey@gmail.com

And like this podcast on whatever service you use to stream it. That matters.

Find out more about CU2.0 and the digital transformation of credit unions here. It's a journey every credit union needs to take. Pronto

Send us a text

Welcome to the cU 2.0 Podcast Greatest Hits #25. This show dates back to August 2021 and it aired as episode 162. The guest: Peter Rice, now CEO of Hanscom Federal Credit Union, and then he was Chief Banking Officer at Workers Credit Union. He came on the show to talk about a new, dazzling branch concept.

You’ll hear how Rice’s mind works in the show.

And a few days after the posting of this Great Hit a new episode with Rice will post where his mind roams among the hot topics in credit unions today.

If Joyce’s Dubliners is a prequel to Ulysses, this podcast is a prequel to Wednesdays. Listen up.