Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
CU builds loan portfolio saves members 40K
FINDLAY, Ohio (7/15/11)--As is the case with most credit unions, Hancock FCU, based in Findlay, Ohio, is facing the challenge of decreased loan demand. So it looked for ways to build its loan portfolio and centered on refinancings. To help offset costs related to the difficult financial environment, the credit union’s loan officers began asking members about their existing loans at other financial institutions, and suggesting how they could save money by receiving a lower interest rate or shorter-term loan at Hancock FCU (e-Lumination Newsletter July 13). The credit union’s lending officers developed an “apples-to-apples” illustration that showed members how much they could save over the life of the loan--and members took advantage. The lending team kept track of the amount they saved members with branch office savings “thermometers.” The thermometers stimulated additional interest from members, and, through the end of June, the credit union had increased its loan portfolio by more than 5% from June 2010. To date, the $58.8 million asset Hancock FCU said it has saved its members more than $40,000.


RSS print
News Now LiveWire
#FreeGasFriday courtesy of @tvfcu, TN #creditunions http://t.co/wDRFYJVlpz
6 hours ago
If you were unable to watch or attend @cuna 's @thehill Hill forum on Wed., you can now watch the archived version: http://t.co/FhUnp7HbU8
7 hours ago
Time is running out. If you haven't taken the #NewsNow readership survey, please click here now: http://t.co/4Gp6C2Wa4o
7 hours ago
African financial inclusion possible with mobile money: @IMFNews study http://t.co/0V5DTQToxY
8 hours ago
Louise Herring's birthday is Saturday. 105 years later, her legacy lives on through her kids http://t.co/oMqGADmo0d http://t.co/T3NmS9NqEY
9 hours ago