Littleton, Colo. – PassTime, a vendor of GPS tracking and automated collection technology (ACT) products, announced that its next webinar session will focus on how credit unions grow loan portfolios.

Approximately two in three credit union executives see loan growth as the critical business issue facing their industry in 2013, according to a new survey from TransUnion. Auto loans may be the main focus of that growth. TransUnion administered the survey to 104 credit union executives at the CUNA Governmental Affairs Conference in Washington, D.C., in late February. Further, the survey found that more than half of credit union respondents believe auto loans are their biggest opportunity.

PassTime provides GPS and ACT products designed to improve customer payment performance and reduce repossession risks. Through technology, including payment reminders and GPS tracking features, lenders can help mitigate their risk.

“The cornerstone of managing auto lending risk—both prime and subprime—is protecting collateral. PassTime devices have helped credit unions grow their loan portfolios, and reduced delinquencies and charge-offs. The device also makes it easier to find and repossess vehicles if necessary,” said Jake Frank, co-founder and executive vice president, PassTime.

PassTime’s credit-union-focused Webinar will be held April 30, 2013 at 11am EDT. Participants can expect to learn:

• What is Automated Collections Technology and who is using it?

• First Time Buyer Programs - New members and new loans

• Fresh Start Loans - Helping members and creating opportunities

• Using GPS Technology for Loan Modifications