Welcome to Credit Union Conversations, where we explore the latest in the credit union industry with host Mark Ritter. Today, we’re thrilled to have Rachel Snyder from CU Business Group diving into how credit unions can excel in business lending. From education and training to building strong small business relationships in your community, we’ll cover strategies to grow your portfolio and tackle challenges like delinquency.
IN THIS EPISODE:
- (00:00) Intro: Meet Rachel Snyder
- (03:00) CU Business Group’s launch in 2002 to support credit unions with business lending
- (06:17) CU Business Group is committed to education, offering webinars and training
- (11:56) Small business deposits fund commercial loans, enhancing credit union stability
- (15:15) Specific markets of small business deposits and loans can ensure effective service
- (18:35) Discussion of credit union accounts, ripe for business lending opportunities
- (22:22) Rachel recommends basic business checking/savings and advanced services like remote deposit capture
- (25:49) Rachel addresses rising delinquency in loans, urging credit unions to manage portfolio risks proactively
KEY TAKEAWAYS:
- Education and training are critical for credit unions to develop expertise in business lending. CU Business Group offers webinars and conferences to support small business loans and deposits, enhancing community engagement and portfolio growth.
- Targeting specific community markets for small business deposits and loans allows credit unions to serve effectively, avoiding overextension and building a sustainable commercial portfolio.
- Rising delinquency in commercial loans necessitates proactive management, as credit unions require expert assistance to address distressed credits early and maintain a healthier portfolio.
RESOURCE LINKS
Mark Ritter - Website
Mark Ritter - LinkedIn
Rachel Snyder - LinkedIn
BIOGRAPHY:
Rachel Snyder is a longtime member of CU Business Group and the organization's COO. After a career in corporate credit unions, Rachel leads the educational offering at CUBG and a wide variety of other functions.
KEYWORDS: Credit Unions, Business Lending, CU Business Group, Education, Training, Small Business, Deposits, Community, Webinars, Conferences, Delinquency, Commercial Loans, Business Deposits, Business Loans, Portfolio Growth, Check Accounts, Savings Accounts
