Do you have 10 minutes?
That’s all it will take to listen to this CU2.0 Fast Take on PPP Loan Forgiveness, a topic that suddenly is bedeviling thousands of credit unions as they confront the reality of how time consuming it is to navigate the loan forgiveness process.
Make no mistake: you want to get that loan forgiven. Best guesses are that many of the loans that aren’t forgiven will in fact default.
You don’t want that on your books.
How long does the loan forgiveness process take a credit union that manually tackles even loan? Figure 10 to 20 hours.
That cannot work on a $100,000 or $50,000 loan.
No way.
Enter Capiform, where CEO Sherif Hassan tells in this Fast Take how to get the credit union staff time down to a few minutes, maybe an hour, max, per loan forgiveness application.
The secret: Capiform screens that guide the borrower as he/she inputs the needed data.
Call it a Tom Sawyer moment of brilliance.
And Capiform gamifies the process so it almost becomes fun for the borrower.
10 minutes. Spend them wisely. Listen up.
Like what you are hearing? Find out how you can help sponsor this podcast here. Very affordable sponsorship packages are available. Email [email protected]
Has your credit union had a hard time hiring and retaining a Chief Information Security Officer? Is your current IT team unable to keep up with your security needs?
Continue reading “How Any Credit Union Can Afford a CISO” →
Do you feel like your marketing efforts are coming up a bit short? Do you wonder why people aren’t coming to your website, browsing around, and then signing up?
You know your marketing strategy can use a revamp, but where do you start? The first steps might feel daunting, but don’t get discouraged! It’s actually pretty easy to incorporate new marketing techniques into your overall strategy.
Content marketing has been around a while, but it’s still a growing trend in credit union digital marketing. It may be the extra push you need.
Continue reading “Credit Union Marketing in the Digital Age” →
Steve Winninger is the man to talk with about credit union boards and governance.
A longtime credit union CEO – 20 years at Lake Trust – now a $1.6 billion institution based in Michigan – plus he also served as CEO at IBM Lexington and since retiring from Lake Trust he has put in stints as CEO at four credit unions (only one of which merged out of existence).
But Steve is a rare CEO. He loves talking about the role of the board and – done right – a board should be crucial in a credit union’s prosperity.
But many CEOs grumble about board meddling. In other credit unions – mainly larger ones – it’s the board that grumbles that they are ignored.
Sigh.
Hear Winninger’s views on that dichotomy in this podcast.
In this podcast Winninger spells out the four steps a good board must take. Must. No exceptions.
We also talk about whether boards are ready and able to help in the immensely difficult decisions that loom as credit unions wrestle with the economic fallout of the Covid-19 pandemic.
In this podcast we talk about some writing I did on Partners Credit Union – click the link and read about it. There’s a mention of Maine Harvest Credit Union, also the effort to form a student credit union at George Washington University. Follow the links to hear the CU 2.0 Podcasts.
Like what you are hearing? Find out how you can help sponsor this podcast here. Very affordable sponsorship packages are available. Email [email protected]
Covid-19 has uncovered many harsh truths about the importance of digital transformation. A quick look at some analytics reveals more problems on the way. If your credit union doesn’t value digital transformation, then it doesn’t value its members.
Continue reading “Transform or Perish: The Future Is Digital” →