|Loan Some ?|
Here are The Top 5 time-tested, sure-fire strategies for increasing loans, boosting profitability, and assuring your bonus.
Don't Worry, Be Happy!!
- Lower Credit Standards - Just a little, it won't hurt (much)! Haven't you heard that lending standards have become way too restrictive? Hey babe, low delinquency is out, the life of Riley is in! "Yes" is a lot easier than "No". Take a walk on the wild side!
- Make Fixed Rate Mortgage Loans and Book
Light a fire under them!
- Offer Incentives To Loan Officers - Heck, the more the merrier! You want performance? You gotta pay these days. Ignore the old fogies who always question why the common good never lies within the range of incentives. You gotta do something to spark a loan officer's interest (particularly their "self" and "conflict of" types.)
- Trumpet Credit Cards - Charge! Stop whining about potential cases of bankruptcy - your members aren't worried about it! Why be such a stick-in-the-mud? Credit cards aren't any more dangerous than hand guns. Whose money is it anyway?
And last, but most certainly not least....
5. "Sell" Loans To The Membership - Aren't we supposed to help cure this recession? Let's help them shop 'til they drop !! Nobody said they had to have their entire head above water to qualify for a loan. Keep lending until you can't see their noses.
Don't Worry, Be Happy !!