Business Development

In our world of studies, programs, spreadsheets, and matrices, we frequently lose sight of the fact that one of our strengths as an industry is our commitment to the individual member.

This is especially true in business development where we make the mistake of thinking that websites, billboards & radio spots have any significant impact on our growth in any given area. However, while these are necessary, they are very limited in their effectiveness.

Our strength as credit unions has always been at the “grassroots” level. We provide you with programs, processes and tools that will maximize your business development efforts starting with your tellers straight up to senior management. It also involves the implementation of an accountability process, that we refer to as the “3 M’s”, which stands for Mentoring, Motivating & Monitoring.

Why Consider BCUS Business Development?

Loans are the lifeblood of the credit union. They are what the membership looks to credit unions for and they are the single most profitable product that any credit union offers. The challenge is that consumers, collectively, are borrowing less in the current market, making it an even tougher environment for credit unions to attract new business.

The good news is that, even with a reduction in overall lending requests, almost everyone will require a loan at some point. This is why credit unions must proactively communicate to their membership, your credit union is ideally the only place they would want to do business.

As part of the BCUS New Loan Development process, we will engage your credit union in creative and proven growth tactics, positioning you above the competition, which enables increased loan volume while mitigating risk and losses.

Member Appreciation Program

Very few credit unions have an ongoing and consistent methodology for saying "thank you" to their members. Typically it's just the verbal thanks the front-line regularly extended or the occasional thank you card/message following a new loan or account opening.

As important as these things are, they fall short of touching every member of the credit union. It is important the credit union finds a way to make direct contact with virtually all of the members. We need to let them know that they are appreciated for their past, present, and potential future business.

This is precisely what BCUS’s Member Appreciation Program is designed to do. It ensures your credit union will be the first place considered to fulfill any and all financial needs that arise.

Dealer Referral Program

In your geographic area, there is an untapped market of the buying public that may not be members of your institution yet, but qualify for membership and are presently looking to finance large dollar purchases with local merchants. This is the issue that BCUS’s Dealer Referral Program expertly addresses. Under this program, BCUS meets with credit union management and determines what types of loans the credit union requires and how aggressive the credit union will be regarding these types of loans.

BCUS contacts local dealers to select the most compatible with your credit union and then sets up the direct referral relationships with them on behalf of your credit union. As part of the agreement, BCUS positions a comprehensive program to monitor the dealer’s activity and practices once they begin referring business to the credit union to ensure ethical and quality lending that benefits all parties involved.

All loans are referred directly to your credit union and your credit union maintains complete control of the entire credit extension process from the initial loan application to the credit investigation, to the new member visiting the credit union to open their account and close the loan.

The best part of this program is there is no cost to the credit union for the member appreciation or dealer referral program until loans are actually closed, funded, and part of the portfolio.

Benefits to your Credit Union

Consistent and enduring contact ensures that your credit union is the member’s first choice when considering their lending options
Enabling you to increase your loan portfolio in specifically targeted areas
Providing additional opportunities to cross-sell other credit union products and services
Bringing new membership into your credit union