Feb. 23, 2004


Comments

 
 
 
  • Our Board is having a problem in growth - we have grown in five years some over 60% From 17 Million to over 31 Million in assests and from 13Million in loans to 28 Million it has caused many problems in Capital and Delinquent loans
    Anonymous
     
     
     
  • The frequency of typos is quite a distraction from the content.
    Anonymous
     
     
     
  • I would wager that the problem is not growth but rather the management of the credit union. Sixty percent growth over five years is a reasonable rate of growth. It is my experience that many credit unions are not operating a sound lending program. That leads to high delinquency and loan losses. The primary source of net income is net interest income. Poor lending performance leads to poor capital growth. I know good management leads to good lending and good lending is the cornerstone of good credit union performance. At my credit union, SAFE Credit Union, credit is our middle name. Make it work and your credit union will have good performance and high member satisfaction. I would give management ninety days to come up with a plan to fix lending and then 12 months to improve performance. My guess is that if performance has been sub-par for a long time you probably need a new CEO.
    Anonymous