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2013 rock star edition
» Jim Jerving
Award-winning lenders, part VI
‘Eagle Advance,’ ‘Credit Builder’ Give Members a Second Chance
Staff training, flexible underwriting help CU serve members with limited resources.
February 6, 2013
‘We’re trained to recognize patterns in a member’s credit history.’
Award-winning lenders, part V
Loans Are the Best Investment
Diversified loan portfolio helps CU boost its 40% loan-to-share ratio.
January 31, 2013
Series of new loan products helps Cooperative Center FCU recover from the recession and deliver on its business objectives.
Award-winning lenders, part IV
Worldwide Membership Creates Unique Lending Challenges
Strong common bond keeps delinquencies low despite geographical hurdles.
January 25, 2013
‘Each country is scored by risk and delinquency experience, and the macro-economic outlook.’
Award-winning lenders, part III
Teamwork, Sales Focus Lead to Mortgage Success
Staff view their jobs as if they're running a small business.
January 22, 2013
Incentives, competitive rates, new products, and community partnerships, also grow loan volume.
Award-wining lenders, part II
‘Thanks for Treating Me as a Friend’
CU blends lending acumen with a genuine concern for members.
January 16, 2013
Personal contact cements member relationships and provides a foundation for referrals.
Embrace Real-Time Data, Multiple Channels for Lending Success
CUs have more information than most businesses, but they often fail to capitalize on it.
January 14, 2013
Most loan applications are antiquated and burdensome, mobile expert says.
Award-Winning Lenders, Part I
Three Steps for MBL Success
CU starts its own commercial lending training program to bring staff up to speed.
January 9, 2013
Find the right people, forge strong member relationships—and be safe.
Shift to Mobile Requires New Approach to Lending
Mobile turns the traditional retail experience on its head.
December 28, 2012
More consumers are defined by their connectivity, which changes how they transact financial business.
MBLs Offer ‘Chef Salad’ of Benefits for Lenders, Economy
Business lending requires strong relationship-building, which favors CUs.
November 30, 2012
Expanding business lending could make CUs significant contributors to the national economic recovery.
Take a Holistic Approach to Compliance
CU can’t have separate compliance approaches for different products.
November 21, 2012
Dividing compliance responsibilities among different departments leads to inconsistencies.
View All Articles by Jim Jerving
Credit Union Magazine
July 2014 digital edition
Beware of Casual Conversation with Members
Rewards Keep CU Cards ‘Top of Wallet’
‘Always Know and Listen to Your Customers’
Happy 25th Birthday, Filene!
Guard Against Employment Practices Liability Claims
While I thought that the premise of the article was good, I found one point very disturbing. It is that the Visions FCU ages people off their board at age 70. I found that really offensive. It perpetuates what I believe to be the regrettable marginalization of elders in our society, and the often erroneous assumption of debility and decline after a certain chronological age. Lots of folks over 70 are leading dynamic and viable professional lives and contributing to our society. How about Warren Buffet, a number of Supreme Court Justices, Jimmy Carter, the late Nelson Mandela and the late Maya Angelou, to name but a few, along with scads of writers, academics, performers, artists, and often our friends, neighbors and colleagues. If Visions wants new people on their board, it seems as though the term limitations and a nominating committee can accomplish that without aging all people off at age 70. I think that’s so insulting. And if those were paid employment, it would be illegal. I do wish you’d have picked a different credit union to profile---one that perhaps does many of the same things, without the arbitrary age exclusion. There have to be others out there.
David, good point about the "recovering comfortably" comment. That was an editorial addition--which I'll remove.
Many good points but too rosy? Will the "Federal Reserve raise short-term interest rates 1% per year for the next three years, starting in 2015—“probably next year at this time” ? I have heard from other economist that the US government will go bankrupt if that happens due to the QE the fed has done for several years. Also it seems an exaggeration to say “We survived a heart attack,now the economy is recovering comfortably." Comfortably recovering is too ignore the economic stress that many members still live with daily that will eventually affect many credit unions.
Karan, Great article and insight. I would also recommend that you start getting those credit cards into the hands of the youth BEFORE they are in college. One of the best ways to reach this young generation is through mom and dad. Before the student goes to college, get them started with a credit card (even if mom and dad are joint on it). It's never too early to start marketing credit cards. Mark
I would respectfully disagree that transactional data is a good place to start. In my opinion, relationship data is a much better starting point. Transactional data tends to require more "mining" of thousands/millions of transactions to identify opportunities or threats. Relationship data, however, involves identifying and profiling your high-value relationships (those profitable relationships with multiple products/services, for example) and leveraging that information to attract/cross-sell similar members. Generally involves a bit less effort and quite a bit higher return.
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