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LenderHub

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

 

Recent Posts

Shifting Focus to Your Underinsured Borrowers

It’s no secret that the demographic makeup of a financial institution’s membership is changing. As Boomers near retirement, their children are entering the mid-career phase of their lives, and their grandchildren are starting their financial journey. Each of these demographic segments has different product and service needs, as well as differing expectations from their financial service providers.

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Growing Non-Interest Income with Payment Protection

In the everyday hustle and bustle that occurs at your financial institution, it can be easy to wander off the path and lose focus. It happened to Texans Credit Union, but they were ultimately able to regain focus, leading them back to their philosophy to generate sales through service. And focus on what’s important to them--their members!

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How Improved Consumer Confidence Can Lead to Increased Debt

When we consider the U.S. economy, we see good and bad news. The good news is that we've almost reached full employment, and consumers are feeling confident about their ability to maintain a stable income, make large purchases, and repay loans. The bad news is that confidence may be misplaced, since U.S. consumers’ credit card debt is at an all-time high, and delinquencies are rising.

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Add Value to Premium Checking with Voluntary Protection Products

Increasing non-interest income to help cover costs and introducing new services while also staying true to your financial institution's mission can be tricky. One way to do so is by introducing new products that complement your current offerings and bring value to your new and existing consumer base. To that end, voluntary protection products, often available in combination with premium checking accounts, are a great option for financial institutions to add to their product and service portfolios.

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How Credit Card Delinquencies Affect Your Bottom Line

It's a sad fact that good news is rarely 100% positive; usually we can expect some undesirable result from sunny situations. The U.S. economy's recovery after the Great Recession is a perfect example. While we're pleased about low unemployment and consumer spending in support of employment and economic growth, the lending industry is beginning to see a negative byproduct of that improved economy: rising credit card delinquency.

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Credit Life Insurance and the Underinsured/Uninsured American

According to the 2016 LIMRA Ownership Study, almost half of all U.S. households have an average life insurance coverage gap of $200,000 per household. This same research also showed that 37.5 million households do not have any life insurance at all which means that 30% of U.S. households are completely uninsured. There is a silver lining in this research though, particularly for financial institutions, as the LIMRA findings identified that trust is the number one factor that comes into play when an individual does indeed purchase life insurance coverage.

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Find Out How Texans Credit Union Created Non-Interest Income Growth of 17.89%

It’s not uncommon for a company to find itself running on a different track than the one on which it started. When that happens, it may not be so easy to change course. Texans Credit Union found themselves in this exact situation and with the help of SWBC, they managed to refocus and find success.

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What the Heck is a Funeral Concierge?

Have you ever gone to the Concierge Desk in the nice hotel in which you are staying to get tickets (at a good price) to a theatrical event or reservations at a hard-to-get-reservations restaurant? It is usually a fairly pleasant experience—you still pay the main provider, but typically you’re paying a good, negotiated price. Additionally, the hotel concierge can answer most any and all of your questions about the new adventure you are about to embark upon in the city you are visiting.

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Gain a New Perspective on Credit Life Insurance

In the financial services industry, it is widely known that credit life insurance pays off the outstanding loan balance to which it is attached. But have you ever really realized how credit insurance is a key component in serving American households who may have no life insurance at all—that is, up until the point where you, the lender, offer it. According to LIMRA’s 2016 Life Insurance Ownership Study, 37 million households don’t own any life insurance coverage whatsoever. In addition, more than 10% of all U.S. Households said they would have trouble covering everyday living expenses after several months if the primary wage earner died. I think it would be safe to assume that the primary wage earner was definitely the borrower or co-borrower on their existing loans.

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Payment Protection: An Invaluable Program

Financial institutions—almost everyone deals with one on a regular basis. Everything from a cash deposit to making a financial investment and taking out a loan can be conducted through a financial institution. But, did you know that 61% of borrowers still DO NOT fully trust the financial firms they conduct business with on a regular basis. As a lender, this number may or may not come as a shock. So, how can you begin to improve that number while keeping your bottom line top of mind?

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