Lenders - if you're slated to attend the 2013 SCMSAA Conference, you don't want to miss out on a new course this year. Michael Cochrum of CU Direct Corporation will lead, "Who Let the Cows Out? Strategies for Growing Your Loan Portfolio in a Highly Competitive Lending Environment."
Lenders – if you’re slated to attend the 2013 SCMSAA Conference, you don’t want to miss out on a new course this year. Michael Cochrum of CU Direct Corporation will lead, “Who Let the Cows Out? Strategies for Growing Your Loan Portfolio in a Highly Competitive Lending Environment.”
Many credit unions are experiencing lower delinquency and losses in their loan portfolios as the economic recovery continues. The challenge today is, “How do we grow loans in a highly competitive lending environment?” Maintaining a competitive edge requires credit unions to gain comfort with their knowledge of risk and open or reopen lending channels with that knowledge.
Lenders are often stymied when faced with segments of their portfolio where they have seen delinquencies and losses in the past. Our approach in the past was to ask, “What can I do now that the cow is out of the barn?” The first recommendation should be, “Close the barn door!” The second should be to ask, “How did the cow get out?”
In this session, Cochrum will introduce credit unions to the concept of portfolio analysis that goes beyond simply reporting what has happened and attempts to discover what happened. He will also help credit unions spot trends to prevent future loss events.
Additionally, Cochrum will demonstrate how a credit union’s own portfolio performance can give them more information about the future performance of a new loan than the credit score alone. Having this information available, credit unions will be enabled to broaden their risk spectrum while appropriately accounting for that additional risk in their pricing, thus having a positive impact on loan growth.
Registration for the 2013 SCMSAA Conference is open to members and non-members through July 11. Registration requires an individual password. For questions, contact Janine McBee, SCMS Director & Synergist, at firstname.lastname@example.org 469.385.6634 or the Alumni Board for questions.