Lending

The Paperless Mortgage

January 23, 2009
Judy Dahl Eliminating paper saves time and money, helps the planet, and provides faster, better service to members. A thick sheaf of paper typically heralds each closed mortgage. It’s solid and real—but expensive, time-consuming, and environmentally harmful. That’s why mortgages at $4.8 billion asset BECU, Tukwila, Wash., now are paperless from... READ MORE

Real Estate Rx

January 23, 2009
Steve Rick Excess inventory will dampen home prices throughout 2009. Many people are asking what the economy will look like in the coming months. Because the major cause of the current recession was the housing bubble bursting, any economic recovery will depend on revitalizing the housing market. Let’s look at... READ MORE

A Blizzard of Regulatory Change

January 23, 2009
Bill Klewin Lending regulation is reaching a frenzied pace. As I look out my window, I brace for the snow, slippery conditions, and bad drivers I’ll face on my commute. That’s a great analogy for what credit unions face on the regulatory compliance front, especially for lending-related regulations. For years,... READ MORE

Hearth-Warming Loans Fuel Relationships

January 23, 2009
‘CU family can be found even in the most exotic places.’ Who: Cathy Bond What: President/CEO Where: Winslow (Maine) Community FCU Why we offer energy assistance loans: Maine winters can be financially difficult. When the cost of heating oil escalated midsummer 2008, we introduced the Energy Saver Loan to help... READ MORE

Smart Deals & Fair Dealing

January 21, 2009
Smart Deals & Fair Dealing Jennifer Garrett Caprock FCU turns employees into member advocates in the auto-buying process and sees a 138% increase in volume over three years. Most credit union employees and executives will tell you there’s more to a successful auto-lending program than volume. Dale Hansard, president/CEO of... READ MORE

CUs Survive Mortgage Mugging

December 23, 2008
Patrick Totty  Instead of taking blows, vendors say CUs’ mortgage outlook is rosy in certain areas. You might compare what’s happened to the mortgage market recently to being mugged. First, there’s a flurry of blows, followed by sitting down, taking stock: Should I get up or catch my breath? For... READ MORE

Pillars of the Community

December 23, 2008
Judy Dahl Award-winning community CUs serve all members, not just some. The key to community credit union success is “staying focused on why we’re here—to serve members. We have to be a sustaining resource to [members],” says Rick Hein, CEO of $540 million asset OSU Federal Credit Union, Corvallis, Ore.... READ MORE

Lending 2009: Find the Silver Lining

December 23, 2008
Lloyd Gill Be there for newly credit-impaired members. Sam, a member, called recently, very troubled. He was returning our call about his past-due loan. Never delinquent before, he faced a new experience. Many members, like Sam, for the first time are having trouble paying their loans. Previously having had excellent... READ MORE

Leading Edge Lenders

December 22, 2008
Karen Bankston CUNA Lending Council award winners turn economic drop into market share gains. The dramatic economic downturn of 2008 caught many by surprise, but  executives of credit unions honored with the 2008 Excellence in Lending Awards detected the first tremors in 2007 and earlier. They adjusted their lending processes... READ MORE

Reverse Mortgages Come of Age

December 22, 2008
Neil Bartlett Demand for reverse mortgages should increase as seniors face the future with rising expenses.The biggest risk of not providing reverse mortgages is that someone else will—and your credit union may lose senior members. Greg Seltzer, vice president of lending at $830 million asset Los Angeles Firemen’s Credit Union,... READ MORE

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Great article! Unfortunately, most employees don’t feel valued or appreciated by their supervisors or employers. In fact, research has shown that the predominant reason team members quit their jobs is because they don’t feel valued. This is in spite of the fact that employee recognition programs have proliferated in the workplace – over 90% of all organizations in the U.S. has some form of employee recognition activities in place. But most employee recognition programs are viewed with skepticism and cynicism – because they aren’t viewed as being genuine in their communication of appreciation. Getting the “employee of the month” award, receiving a certificate of recognition, or a “Way to go, team!” email just don’t get the job done. How do you communicate authentic appreciation? We have found people have different ways that they want to be shown appreciation, and if you don’t communicate in the language of appreciation important to them, you essentially “miss the mark”. Additionally, employees need to receive recognition more than once a year at their performance review. Otherwise, they view the praise as “going through the motions”. A third component of authentic appreciation is that the communication has to be about them personally – not the department, not their group, but something they did. Finally, they have to believe that you mean what you say. How you treat them has to match the words you use. If you are not sure how your team members want to be shown appreciation, the Motivating By Appreciation Inventory (www.appreciationatwork.com/assess) will identify the language of appreciation and specific actions preferred by each employee. You then can create a group profile for your team, so everyone knows how to encourage one another. Remember, employees want to know that they are valued for what they contribute to the success of the organization. And communicating authentic appreciation in the ways they desire it can make the difference between keeping your quality team members or having a negative work environment that everyone wants to leave. Paul White, Ph.D., is the co-author of The 5 Languages of Appreciation in the Workplace with Dr. Gary Chapman.

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