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Attendees learn about loan marketing strategies, credit scoring analysis at CUANY’s Lending School
ALBANY, NY (April 16, 2014) – Credit union professionals from every corner of the state recently gathered in Albany for the Credit Union Association of New York’s 2014 Lending School. The sold out event, held April 2-3 at CUANY headquarters, was led by instructor Celeste C. Cook, who focused her discussions on various aspects of credit union lending.
During the first day of the event, Cook encouraged attendees to develop proactive lending philosophies that lead to more potential loans and increased member loyalty. She also offered creative marketing strategies and shared ideas for inspiring employees to bring in more loan opportunities.
“Celeste was highly motivational and engaging, and she really drove home the point that loan policies are not black and white,” said attendee Tammy McCadden, loan operations coordinator at TCT FCU. “She stressed the importance of looking at the whole picture when a loan application comes in. Most importantly, she told us to never deny a loan—only defer it—because a denied loan is a missed opportunity.”
The following day, the session focused on using credit scoring and analysis (CSA) to capture quality, profitable loans. Cook provided an overview of how credit scores are calculated, as well as how to use CSA to determine what factors are hurting—and what can help improve—a member’s credit score. Cook also explained how to: underwrite higher-risk loans, predict bankruptcy and make better loan decisions, all while strengthening member loyalty.
“After attending this class for a couple of days, I can honestly say I’m excited to make loans again,” said Keith Kurman, VP of sales, service and branch operations at TEG FCU. “Being able to show members how their credit score is impacted by their daily actions and how they can improve their credit score by sticking to a certain plan is a powerful tool to have. I’m looking forward to bringing this knowledge back to our credit union.”
The Credit Union Association of New York has served as the trade association for the state’s credit unions for 96 years. New York credit unions have assets of more than $65 billion and serve 4.9 million members. To learn more about CUANY, visit www.cuany.org. To find a credit union or learn more about the credit union movement, visit www.asmarterchoice.org.