The Rewards of a Centralized Lending Process

By Preston Packer |

Sep

01

As a credit union, there are a wide range of opportunities that can be leveraged in terms of more effectively operating your lending process. Having said that, not all methods work equally well for each organization. Only by making an effort to fully understand your audience will you be able to come up with the techniques that fit best given the circumstances.

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The Keys to Effective Organic Loan Growth

By Preston Packer |

Jan

06

Credit union loan balances are growing steadily, increasing from 5.3% in 2020. Experts predict loans to escalate 9% each year in 2022 and 2023 after the economy returns to normal, infrastructure expenditure begins, and unemployment levels decrease. As loan balances continue to rise, credit unions are searching for strategies to increase direct lending that will boost profits and set the stage for cross-sales.

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3 New Year's Resolutions Every Credit Union Should Use to Drive Growth

By Preston Packer |

Dec

23

Although the pandemic made it clear financial institutions were all in the same storm, each credit union's boat was entirely different. For instance, some credit unions have been able to capitalize on rapid digitization, while others may not have been as fortunate. In either case, it's important to learn from the lessons doled out over the last two years and use them to strategically plan for the future. Let's look at three New Year's Resolutions credit unions can use to drive growth in 2022 and beyond.

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10 + 1 Ways to Grow Direct Loans with Fewer Employees

By Preston Packer |

Aug

23

Efficiency is the goal of every credit union executive, increasing revenue while operating in a lean environment. Lending is the bread and butter of the credit union's revenue stream, and many credit unions are looking to grow their loan income without increasing staff count and expenses. There are several ways to bump up direct loans efforts but it all starts with your employees. Your staff is the most essential element when it comes to creating a seamless member experience. After all, that’s one of the primary reasons people choose credit unions - for their outstanding member service. Here are 10 ways you can optimize your staff roles and operations to grow direct loans, and one way you can promote it:

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