Press

Gulf Coast Community FCU Loan Growth Soars After Consulting With Lending Solutions Consulting, Inc.

FOR IMMEDIATE RELEASE

Gulf Coast Community FCU Loan Growth Soars After Consulting With Lending Solutions Consulting, Inc.

Elgin, IL – Wednesday, April 14, 2010 – Gulf Coast Community FCU ($60 million; 8,885 members; Gulfport, MS) increased their new money loans to $1.4 million for the month of March, their highest new money loan volume in over a year, after having lending expert Ed Swanson of Lending Solutions Consulting, Inc. (LSCI) on-site. LSCI is the industry’s leader in providing consumer lending advice to credit unions across North America. Since embracing Ed Swanson’s dynamic lending philosophies, Gulf Coast Community FCU has put their lending program on ‘rocket fuel’ according to the credit union.

“In February 2010, before Ed Swanson’s training, our consumer loan weighted average yield was 6.84%. In March, after the University of Lending training, our consumer loan weighted average yield was 8.61%, which equated to $10,500.00 in additional interest income!” stated Lisa F. Lindsey, President/CEO of Gulf Coast Community FCU.

“By the end of Ed’s visit, in just one week, we increased our daily loan volume from $35,000 to $215,000, and we’ve continued to put his training techniques to good use every day since. We love making loans again!” Lindsey said. “Ed is exactly what the credit union industry needs! We are committed to having him back to train our ‘Solutions Team,’ and look forward to a long and incredibly beneficial partnership with Lending Solutions Consulting, Inc.”

“I thoroughly enjoyed my visit at Gulf Coast! They had the culture in place for the ability to learn,” expressed Ed Swanson, Vice President of LSCI. “We provided them with the tools and hands-on techniques to make it happen.” As an expert in his respective field, Ed stressed that credit unions must rethink strategies to remain viable in the highly volatile marketplace today, “Lending is our lifeblood. Credit unions cannot continue to operate the same way they have been due to today’s economic climate.” Swanson said.

Ed Swanson, a 25-year veteran of the credit union industry, joined Rex Johnson and Lending Solutions Consulting, Inc. team in November 2009. He has spoken for over 35 Credit Union Leagues throughout the country on a variety of lending and member service related topics. Swanson helps credit unions to strengthen themselves in areas of consumer lending, loan underwriting, risk based lending, mortgage lending, indirect lending, collections, sales development, member service and incentive programs.

For further information on Ed Swanson and Lending Solutions Consulting, Inc, please visit:

www.rexcuadvice.com or call 800.937.4249 x3202.

2200 Point Boulevard Elgin, Illinois 60123 Phone: 847-844-2200 Fax: 847-844-2304


More News