5 Steps to Develop a Productive Relationship with Local Universities

Credit unions exist to serve members’ financial needs – most often in the local communities they reside. Credit unions have a great history of developing SEG relationships within their communities.

 
 
Credit unions exist to serve members' financial needs - most often in the local communities they reside. Credit unions have a great history of developing SEG relationships within their communities. These relationships often include local colleges and universities. However, a SEG relationship with a particular school does not by itself help a credit union tap into the key loan opportunity that can come from forming a relationship with the school's financial aid office (FAO). Nor is a SEG relationship even necessary.

Should your credit union develop an FAO relationship? How do you identify an attractive school to approach? What is the right way to approach the FAO to develop a relationship?

Below are 5 steps that outline how successful credit unions can maximize their success.  Each step is expanded upon in detail in a free pdf download from CreditUnions.com.

  1. Know the school - do your homework to determine a compatible fit
  2. Understand Acceptable Practices for approaching the FAO
  3. Familiarize yourself with the importance of the RFP process
  4. Schedule at least periodic on-campus presence/events
  5. Play to your CU's strengths through the lens of what is important to the FAO

By: Michelle Pezzulli, VP Operations, CU Student Choice  

 

 

 

Nov. 10, 2008


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