Friday, March 6, 2009 – 12:00
Can we make loans to members who are losing their jobs? Can we make loans to those who lost their homes? Remember this year it is a whole different ball game! Lending in 2009 – What we are up against? -Over 1.2 million jobs lost in 2008; more will be lost in 2009 -One in 10 borrowers were either delinquent or foreclosed on their mortgages -Looking beyond the score Your “A” members may be a greater risk than some of your sub-prime members! We cannot survive only making car loans to “A” & “B” members. The spread is too thin. Be willing to take greater risk on unsecured loans where we can pay off our members’ credit cards & receive an attractive yield. We will teach your employees to make more loans by focusing more on the members’ qualifications and less on their score. THIS IS THE PERFECT OPPORTUNITY TO “SEE WHAT NO ONE ELSE SEES” AND DISCOVER HOW TO HELP THE MEMBERS THAT OTHER LENDERS ARE STEERING CLEAR FROM.