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LenderHub

SWBC's LenderHub blog is a one-stop resource for lenders.

 

Recent Posts

3 Ways Management Can Help Boost Sales at Your Financial Institution

While interest margins have improved this year, up 7 basis points from 3Q 2019, according to creditunions.com1, financial institutions are still in a position that requires them to create revenue streams beyond lending. However, one of the challenges—particularly for service-focused organizations like credit unions—is converting to a product-driven sales culture.

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5 Ways to Advance Your Investment Program

To compete for new customers and retain your existing customers, you must offer products and services that make their lives more convenient and aren't available at every financial institution. One great service to offer is a retail investment program, which gives customers the opportunity to consult with a professional financial advisor and have investments right at your financial institution, where they already go for loans and banking services.

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Consider Referrals an Educational Opportunity

When I meet with bank and credit union executives, I always ask them to describe their sales culture. The responses I get are usually similar and typically sound something like this: "we don't push sales but we do have goals;" "we are focusing on becoming more of a sales culture;" or "everyone has goals, but if we don't reach them, nothing really happens."

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