MONTGOMERY, AL (August 9, 2013) -- Lending, business development, and leadership strategies firm cuStrategies has had a busy year helping credit unions achieve their strategic objectives to increase loan growth and profitability. In 2013, cuStrategies has assisted 11 credit unions nationwide capturing profitable quality loans and increasing loan growth through proven lending strategies, programs, and consulting services.
According to cuStrategies President/CEO Celeste Cook, who has more than 20 years credit union industry experience, the credit unions she assisted range from $1.2 million to just under $100 million in assets. But the strategies Cook provide work the same for everybody no matter the size. One of the more beneficial lending programs the credit unions incorporated was her Credit Scoring and Analysis (CSA) Lending Program.
Credit unions cuStrategies has partnered with this year include:
- Appalachian Community Credit Union, Gray, TN: July 8-12, 2013
- Mountain Credit Union, Waynesville, NC: January 14-18 and March 4-9, 2013
- Premier Federal Credit Union, Greensboro, NC: February 4-15, 2013
- Carolina Postal Credit Union, Charlotte, NC: February 4-8 and April 8-12, 2013
- Baker Federal Credit Union, Phillipsburg, NJ: January 10-12, 2013
- Public Service Credit Union, Denver, CO: July 2011 – Present
- Dover Federal Credit Union, Dover, Delaware: April 27-28, 2013
- Sky Federal Credit Union, Livingston, Montana: June 3-7, 2013
- FAA Credit Union, Oklahoma City, OK: February 18, 2013; August 6-10, 2012
- Navigator Credit Union, Pascagoula, MS: Follow up dates of August 26-29, 2013; May 2-6, 2011; June 18-24, 2011; August 8-10, 2011; March 5-9, 2012
- Mobiloil Federal Credit Union, Beaumont, TX: new three-year license agreement with cuStrategies (2013-2016); September 26-30, 2011; May 3-9, 2012
According to Ron Scott, CEO of Appalachian Community Credit Union, he was pleased with his credit union’s July 2013 loan volume (the month of cuStrategies’ training), adding that the ending gross origination of consumer loans was $3,556,171. His original 2013 monthly goal was $2,250,000. “We now refer to this as our threshold,” he says. “The new goal is $5 million per month.”
“Our loan volume increased by 237 percent (the month following cuStrategies Training),” states Susan A Rodriguez, CEO Baker Federal Credit Union, “compared to February 2012 by incorporating the ‘not deny but defer’ strategy as well as performing CSA’s.”
According to Joy Watts, CEO of Carolina Postal Credit Union, all branch loan totals increased from year to year. However, 2013 loans more than doubled in volume compared to 2012 and 2011 (the month of cuStrategies training):
- April, 2013 – $1,995,014
- April, 2012 – $952,537
- April, 2011 – $824,063
“All of these credit unions saw an immediate increase in loan growth and many have sustained growth,” Cook says. “The credit unions most successful are those which included our Leadership Session prior to or following the training to help map out a plan of success and a plan of action for implementation and execution of the programs and strategies that would include training reinforcement, accountability, lending strategies, marketing strategies, sales initiatives, and other recommendations to keep the momentum moving forward subsequent to the training.”
Many of the credit unions also included cuStrategies’ Service EXTRAordinaire Program for all staff. This program is designed to get the entire staff engaged with the current direction of the credit union.
About cuStrategies
Celeste Cook is founder and President/CEO of cuStrategies LLC. As a credit union industry strategist, Cook provides strategic planning services, consulting services, and training programs to the credit union industry. She is also a keynote and motivational speaker in addition to a consultant and trainer. Cook has served as an industry expert, motivational, and keynote speaker for national credit union associations as well as credit union leagues nationwide. She has worked in the credit union industry for more than 20 years and has been a professional speaker and trainer for more than 15 years. She previously worked for a $1.6 billion credit union in Atlanta, Georgia, and worked as a consultant and trainer with Rex Johnson of Lending Solutions Consulting. For more information, visit: www.custrategies.com.