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LenderHub

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

 

Recent Posts

How Lenders Will Be Impacted by the 2016 Election Results

For most Americans, the last year of campaign slogans, attack ads, debates, and social media rants has been exhausting. No matter what side of the aisle you sit, emotions have been—and remain—high. For many business and financial institution leaders, our post-election inboxes and news streams have been flooded with predictions about how a Trump presidency will impact business growth, regulatory change, and the overall economy.

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Are Consumer Vehicle Purchase Trends Impacting Lending?

Consumer purchase behavior, economic cycles, and cyclical interest rates come and go, and there is very little that auto lenders can do to prevent or change these trends. Ultimately, the best way to protect your members and your institution from cyclical auto industry trends is to evolve with the times and find creative and valuable ways to provide vehicle protection, all while protecting your bottom line from shrinking margins.      

There are two trends in vehicle ownership and loan habits, in particular, that we have been monitoring and identified as key trends that make vehicle protections products more important than ever.

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Financially Literate Customers Are Your Greatest Assets

Being a financial educator to your customers has never been more important than it is today. Consumers are starved for helpful tips on budgeting and building wealth. And, while statistics on financial literacy are often discouraging, it leaves the door wide open for your organization to meet the growing need for financial literacy. A FICO 2014 Survey of U.S. bank customers found that only 30% of financial institutions’ customers received a passing grade on their financial knowledge.

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4 Tips for Being a More Effective Leader

In my last post, I talked about how your employees are the key to your institution's success, and offered up a few ways that can foster an environment of satisfied employees. Today, I want to talk about how effective leadership is another piece of the "successful organization puzzle."

Let's face it, being a great leader is no easy task. Sometimes the day-to-day demands of management and serving customers takes precedent over investing time on team building, employee development, and even proper and thorough training, but I think most true leaders understand the value in carving out time to not only work on their personal leadership skills, but to engage and develop employees. Whether you're a seasoned leader, or brand new to the role, there's never a time like the present to evaluate your leadership style, and consider a few techniques to ensure you are being the kind of effective leader that your employees can look up to and learn from.

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Employee Satisfaction: The Key to Your Financial Institution's Success

Over the years, credit unions have strived to differentiate themselves from banks, and banks have done likewise. More recently, financial institutions have begun to go a step further--not only distinguishing themselves as a bank or credit union, but also as the BEST bank or credit union. Those who want to be seen as the best are trying to stand out among their peers by providing a better, more powerful “borrower experience.” But, there is one group whose happiness may impact your financial institution’s bottom line more than your members or customers--it’s your own employees.

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7 Simple (But Crucial) Things Financial Institutions Often Forget About

According to World Bank, there are about two billion adults that currently do not have a formal account at a financial institution. That equates to a huge market share up for grabs. So, how can you acquire some of these “unbanked” individuals? With competitors all around you, it is important that your financial institution not overlook ways to better your organization, even those things that seem unimpactful.

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The Way to Your Customers' Hearts is Through Financial Literacy

More and more, financial institutions are beginning to accept and embrace their role as financial educators. You are no longer simply the provider of checking accounts, credit cards, and auto and home loans; your customers are looking to you to answer their most pressing financial questions. 

We talk a lot about the importance of institutions finding a way to break past the competition by moving beyond low rates and offering their members real value. Quite frankly, as far as your borrowers are concerned, a rate is a rate is a rate. If all you are offering is a low rate auto loan, they will jump ship the moment they get an offer from the dealer down the street for a percentage point less. 

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Recognition: It's the Little Things That Matter

Salespeople are just like everyone else; each of them have their own motivation. I guess that is why we're all made a little different. Otherwise, we would all be robots walking around this Earth. In this post, I will talk about the people aspect, from both an employee level and a sales manager level.

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Hybrid CPI: Helping You Do What's Right For Your Borrowers


Things are changing every day; and by that I mean regulations surrounding a very specific line of business in the financial institution space, lender placed insurance. Simply put, if a borrower does not meet the obligations of maintaining insurance on their home or auto, you as the loan servicer have the option to issue an insurance policy to protect your interests.

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How to Take Sales from Good to Great in 3 Easy Steps

In my previous post, I talked about how many of the top salespeople that I’ve been associated with are not motivated by the money, but by the recognition from their peers and company. Well, let’s put it this way, not many days go by that I’m not surprised by the actions of others trying to do good.

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