This week CreditUnions.com looks at high-risk lending, team-building, brand initiatives, merger questions, and more.
Here are five data points you need to know:
That's how many miles separate Azalea City Credit Union and Southern Chautauqua Federal Credit Union. Despite this geographical gap, the two institutions lend from the same playbook.
Both work extensively with the types of borrowers who often turn to pay-here lots or payday lenders; they both charge higher-than-market rates for loans; and they both end up with more bad loans than most credit unions their size.
See how they still work a successful portfolio in "How High-Risk Lending Reaps Rewards."
The financial services industry can move fast, but that doesn’t mean credit unions can’t be prepared. The best way to do that? Turn to team-based learning to achieve the alignment needed to capitalize on strategic opportunities and avoid disruptive threats.
In "How To Build A Better Team," check out a collection of six articles that show how and why a team-based learning solution works for credit unions.
In a one-day brand camp held in 2016, Listerhill Credit Union released the results of a 2016 member survey. In it, 95% of respondents felt the credit union provided "friendly, personal service."
That's a lesson in positive branding, something the credit union wanted to communicate before launching its new mission, vision, and values, as well as an updated tagline, all of which underscore Listerhill's community impact.
Learn more in "Brand Camp Ensures Employees March To The Same Tune."