BY MICHELLE A. SAMAAD

We asked Brett Jorgenson, chief lending officer at the $1.1 billion Gesa Credit Union in Richland, Wash., and last year’s Trailblazer Lending Officer of the Year, about loan portfolio growth tips for 2013.

Every year we recognize those blazing new trails in the industry. It’s not too late to send in your Trailblazer Award picks. Nominate someone deserving today!

Credit Card Lending

If you have an active credit card portfolio, you should work on expanding your program to substantially increase the number of cards and balances outstanding.  Credit card lending has been an ancillary service for many credit unions.  Credit cards not only increase interest income, but also generate interchange revenue to help offset the decreased revenue from debit cards.

Two major ways to make these increases happen is with a rewards program and pre-approved cards associated with the approval of other loans.  If you do not have a rewards program, you should implement one.  While low rates and no-fees for balance transfers and cash advances are popular with members, they also want a competitive rewards program.

If your credit union is involved with an indirect lending program, offer pre-approvals for credit cards to your top tier indirect lending members and provide them a simple process to obtain the new card.  The same applies to pre-approval letters with your closing documents on all first mortgage loans to members who don’t currently have your credit card.

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