5 Reasons Your Members are Borrowing from the Competition

By Preston Packer |

May

12

Your member numbers are up. Your product portfolio has evolved to meet the demands of the financial industry. You invested in the technology that millennials expect, and have been active on a variety of media channels to attract new and younger members. While all signs are pointing to a banner year for your credit union, your loan portfolio is lagging. Why aren't your new members borrowing from your credit union? Let's take look at possible areas where your credit union lending solutions may need some minor tweaks, or possibly a complete overhaul:

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How to Attract Millennials Even Though They Suck

By Preston Packer |

Mar

10

The past year has thrown a number of curve balls our way. The presidential election outcome caused major shockwaves. The Cubs finally won a World Series. Cleveland broke their championship drought with an NBA ring. Miss Colombia was crowned Miss Universe... and then she wasn't. LaLa Land won best picture... and then it didn't. Despite all these quirks in the universe, one constant has remained: Nobody seems to like millennials.

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Members Don't Care About Credit Union Software and Neither Should You

By Preston Packer |

Feb

14

Lunch time arrives and it's time to heat up your leftover chicken and rice from last night's dinner. You make your way to the break room and throw your tupperware in the microwave and two minutes later are enjoying the food heated to the proper temperature. Most people don't sit there and contemplate the inner workings of the microwave and how Percy Spencer leveraged radar technology developed during World War II to invent it. They simply care about warm food. Similarly, members don't think in terms of core technology or credit union software, they are only concerned about the convenience and overall experience they receive. It's only when your technology fails to provide what your members need that it becomes an issue for them. So, ask yourself, are credit unions in the technology business or the financial services business?

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What Does Coffee Have to do With Closing Loans

By Preston Packer |

Jan

31


In a sales cycle there is a courting process that begins with marketing, positioning, negotiating and sometimes waiting. For the sales person and consumer alike, closing the sale is often times the most delicate part. No matter how perfect the sales process seemingly goes, it's not final until that signature is received, and both consumer and sales person are anxious for that to happen. Coffee is only for closers, and that Keurig is not percolating until the signatures are signed. The faster you get to the close of the sale, the hotter the coffee is. For credit unions, closing a loan is similar in that you need your closing steps to be seamless, effortless and convenient to close faster... e-Signatures provide that experience. 

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How to Trim Loan Processing Time by 80%

By Preston Packer |

Jan

26

If 2017 is the year you hope to trim down, you are not alone. No, we are not talking waistlines or decreasing caloric intake, but rather, cutting back manual, time-consuming processes in your credit union. Like any good diet and exercise regimen, cutting back fat and building toned muscle is the ultimate goal. When it comes to trimming down operational excess, not only do expenses come down, but income can see a spike as credit unions benefit from the increased efficiencies. Far from a fad diet, e-signatures are a proven method for a quick realization in boosting your bottom line.

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E-Signatures: At the Corner of Efficient and Convenient

By Preston Packer |

Jan

24

Credit unions are quickly realizing the benefits of e-signature as a way to boost efficiency, along with membership and loan applications. E-signatures take you from application to closing without the delays of waiting for members to come into your branch and reduce manual processing errors that result in more time and man hours. When you empower your members with the ability to electronically sign documents from their smartphones, you are providing convenience; and in a mobile world, convenience is king. 

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4 Quick Ways to Realize e-Signature ROI

By Preston Packer |

Jan

19

 

Going paperless is the ultimate time saver. It allows MSRs to easily access documents and extends the efficiency to members. Remote deposit capture is a convenience that was quickly embraced in the paperless world, saving time and money by eliminating trips to a branch or ATM to deposit checks. When it comes to modern loan processing, the convenience of e-signatures is what your members will come to expect from your credit union. As CU executives know, implementing e-signatures requires investment of both time and money. However, the Return on Investment (ROI) from paperless is very tangible. Here are 4 areas where the ROI of paperless lending is quickly realized:

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