Loans

In "Letter 154" the Chairman of the NCUA communicated several clear messages:

• One of the PRIMARY functions of credit unions is to lend money to members.
• Credit unions need to take a more aggressive approach in marketing loans.
• Credit unions should address their ability to lend money to members who have a "less than perfect" credit history.
• Prudent business practices should be followed in lending policies.

MMSS agrees, "The very best investment a credit union can make is a loan to a member." The PRIMARY source of income for a credit union NEEDS to be generated through their lending program.

To succeed in lending, it is critical that the credit union be perceived as a "lending institution" -- one that has the ability and desire to satisfy the borrowing needs of members. If your credit union has struggled in terms of growing loans, MMSS can develop an action plan outlining how the credit union, its loan products, services, and delivery channels can be positioned and marketed to realize success.

If you would like MMSS to develop such a plan for your credit union ($95.00) Click Here