54SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Scott Butterfield The opportunities for credit union loan growth haven’t been this good for a very long time. According to the CUNA Mutual March 2017 Trends Report (January 2017 data), overall, credit union loan balances rose 0.9 percent in January (better than the 0.4-percent pace reported in January 2016) and 11.5 percent during the past 12 months. Credit union seasonally-adjusted annualized loan growth reached 12.8 percent in January of 2017 – the fastest pace since January of 2000.For many credit unions, loan growth opportunities are found in abundance among existing members and a record number of new credit union members. CUNA reported in its 2016 year-end report that membership in U.S. credit unions increased by 4.1 percent in 2016 overall. When compared to previous calendar year results, this is the fastest growth seen since 1986. U.S. credit unions now report 108.2 million members – a total which is equal to slightly more than a third (33.5 percent) of the country’s population.Growing credit union loan balances reflect an abundance of opportunity in the market today – is your team making the most of these opportunities and finding the optimum amount of success? For those of you looking to make more of these market opportunities (while they last), I offer the following thoughts.Be prepared, and take advance of peak credit card spend timeOverall, credit card spends increases from lows during the first quarter and then peaks annually during the fourth quarter. The chart below illustrates this trend back to 2014.Smart credit unions are preparing now to make the most of this strong opportunity in fourth-quarter 2017. Here are a few suggestions to help you capitalize on what will likely be a very strong year of credit-card activity.First, don’t rely on best guesses, or what you believe others are doing. Use trustworthy data that is relevant to your membership and target market. Trusted sources like Experian have created powerful card spend algorithms, built from credit data, to help credit unions find the best opportunities. This data can help your team:Target high-spending members with your very best offerAssign the credit limit your members need and wantAssign the right APR to make sure you maximize interest and interchange incomeRetain profitable cards and identify those members who provide new opportunityMy experience is that many credit unions miss the boat when it comes to capturing the larger credit-card opportunity. High-performing credit unions are using the best-trended data to have a better understanding of their members, and customizing the product features and offer. Successful card programs are built upon a lot more than a low rate and reward program. Smart credit-union marketers know which members are likely to be Rate Surfers, Balance Revolvers, Transactors, Consolidators, Non-active, or Seasonal users. Card experts know how to present the right card product to the right member at the right time.Why it mattersPortfolio expert and Director Jason Dietrich of Experian’s Global Consulting Practice reports that year-over-year growth for national banks in credit cards is at a higher clip than credit unions: 12 percent for national banks versus 9 percent for credit unions (balance growth). National banks are credit unions’ primary card competitor in the market. This identifies an opportunity to revisit the way credit unions approach their card portfolios, and to take steps to maintain and grow their card share versus national banks.When asked to identify one thing credit unions should be focused on when it comes to managing their card portfolio, Mr. Dietrich replied, “retention.” Good retention activity requires a view toward retaining both spend and balance, aligned toward the needs of individual members. It’s very important that on the balance retention side, credit unions stay in touch with members who are showing the need or desire to consolidate debt, or who have significant revolving balance elsewhere at rates higher than the credit union can offer. Getting an offer for a balance transfer to them in a timely manner is important for balance capture and retention. And for retaining spend, the foundation for effective retention comes from identifying which members use credit cards primarily for spend rather than to revolve. For these members, ensure that proactive steps are taken to make your card product the most attractive one for that purpose. Several tactics are proven effective in achieving these goals, but it all starts with proper and timely identification of member needs.Who knows what tomorrow’s loan-growth opportunities will be. Let’s each win as many of these opportunities as we can TODAY. Be assured that your toughest competitors are using the best data, analytics, and marketing strategies to beat YOU in the market. You can take that to the bank.You’re strongly encouraged to assess your credit-card portfolio strategies. Make sure you are using the very best tools to make the most of today’s opportunities while they exist. http://www.experian.com/consumer-information/consumer-spending-data.html Scott is the Principal of Your Credit Union Partner, PLLC.Your Credit Union Partner (YCUP) is a trusted advisor to the leaders of more than 100 credit unions located throughout … Web: www.yourcupartner.org Details
Press Association The Breeders’ Cup Turf winner won last month’s Mooresbridge Stakes at the Curragh but was unable to reel in Noble Mission in the Tattersalls Gold Cup on his latest appearance. Jim Bolger has Leitir Mor, Parish Hall and Trading Leather in contention, but the star of the show is last year’s stunning Prix de l’Arc de Triomphe heroine Treve. The French filly was narrowly beaten by Cirrus Des Aigles on her seasonal reappearance in the Prix Ganay, but is a hot favourite to strike on her British debut under Frankie Dettori. Dank is also among 11 confirmations for the 10-furlong Group One, w hile Roger Varian has entered Hamdan Al Maktoum-owned pair Ektihaam and Elkaayed. The owner’s chief contender is the William Haggas-trained Mukhadram, who was narrowly beaten by Al Kazeem in a thrilling finish 12 months ago. Multiple Group One-winning mare The Fugue, third last year, could line up for John Gosden. Gay Kelleway’s likely outsider Zambucca completes the list. Aidan O’Brien is set to rely on Magician in the Prince Of Wales’s Stakes at Royal Ascot on Wednesday.
Valletta, Malta | AFP | Harry Kane scored a brace to help Gareth Southgate’s lacklustre England to a 4-0 win over minnows Malta in their 2018 World Cup qualifier on Friday.Kane opened the score early in the second-half but three goals inside the last 10 minutes put a brighter sheen on the result than the performance deserved.Ryan Bertrand — with a long range effort barely acknowledged by a far from happy looking Southgate — Danny Welbeck and Kane at the death secured the points in Malta and keeps them top of Group F by two points from Slovakia.However, the English — boasting players whose salaries and transfer fees dwarfed that of their opponents — will need to put up a far better display at home to the Slovakians on Monday.Kane, though, said people should realise that Malta had set out to stifle and frustrate England — it is the first time in three meetings an England side has beaten the Maltese by more than a goal. “Whenever you come away for games like this it is never going to be easy,” he told ITV.“We were trying to break them down, they had 10 men behind the ball. We knew if we just kept moving it wide we would find the space.“The manager makes his choices (Southgate started with just him up front), he puts the team out he thinks we will win the game and we won 4-0 so we have done the right job tonight.”England — winning for just the second time in their last six matches and giving Southgate his first away win since he took over — started brightly and could have been 2-0 up inside the first five minutes.Raheem Sterling should have done better when found brilliantly by Kane just yards out from the goal but the Manchester City star dallied and allowed England-born goalkeeper Andrew Hogg to come out and gather the ball. Hogg was very active early on and pulled off a fine reaction save from Kane in the fifth minute the Spurs striker meeting club team-mate Dele Alli’s pinpoint cross with his head.However, from that point on till the second minute of time added on and Alex Oxlade-Chamberlain’s scuffed shot the Malta goalkeeper didn’t have another save to make.The England players’ woeful performance saw them exit the pitch at half-time to a cacophony of boos and jeers from their fans.– relief –Southgate acted at half-time to remedy the lacklustre performance and took off Sterling sending on Manchester United youngster Marcus Rashford instead.However, it was the hosts who came up with the first meaningful shot of the half Andre Schembri — the only player in the Malta squad to play in the top division of a European league for Apollon Limassol in Cyprus — fashioning out a half-volley that whistled past Hart’s far post.Kane though at last broke the deadlock in the 53rd minute Alli doing superbly to draw two defenders to him then passing to his clubmate who made no mistake — earning a clap from Southgate more out of relief than joy.Malta were far from disheartened, Sam Magri — a former England Youth international with the likes of Sterling and substitute Nathaniel Chalobah but now plying his trade with non league Ebbsfleet — fired in a decent long range effort that forced Hart to dive to cover it.Kane showed he was just as dangerous from outside the box firing in a fierce effort on the hour mark that Hogg did well to save.Bertrand and Welbeck added late goals before Kane sealed his double and his 10th in 20 internationals.Rashford created it after refusing to follow Kyle Walker’s instruction and put the ball out because a Malta player was injured instead teeing up Kane.Share on: WhatsApp