Focus on Existing Members to Grow Loans: Online Discovery Conference

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With some households still experiencing major financial setbacks, credit unions may have to focus on their existing members first to grow their loan programs.

Patrick McElhenie, sales planner for CUNA Mutual Group, offered that suggestion Tuesday during the company’s third-annual Online Discovery Conference.

“Let’s not forget, our members are our owners, but more importantly, they will do the advertising for us based on their satisfaction,” McElhenie said. “Quite often credit unions are all too timid in sharing what they can do for their members.”

During a session on translating lending trends into strategies to fuel growth, McElhenie said members are more cautious today because of the current economic environment and the financial obligations they already hold.

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