Posts Tagged ‘business development’
Marketing Must Know These Key Ratios
The primary Business Model for credit unions is straightforward. It is Money in Money out. Credit unions buy money ( deposits) from members (Cost of Funds) and then loans out those deposits to Members (Interest Income) at a higher interest rate (Margin). Of course, there are multitudes of nuance to this model, that’s why credit…
Read MoreGreat Endings yield Great Beginnings
December 31, 2014 is my final day at Eli Lilly FCU (soon to be know as Elements Financial). Rumors of my retirement at premature, it just isn’t in my DNA. Rich 4.0 (see http://leading2leadership.com/2014/08/02/rich-4-0-the-reinvention-of-self/) will be working as an independent strategy consultant or with a progressive bank/credit union vendor. My core competencies include the following:…
Read More3X3 Essentials for Business Development
Business Development success is essential regardless of your credit union’s field of membership. BD success requires a focus on three critical measures: growing members, assets, and balances; the first 3 of the 3X3. Generating sustainable growth of members and assets is the key to a credit union’s survival. Even if one of your credit union’s…
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