Lending Growth in the Midwest via Cultural Change
A radical culture change in the workplace and a shift in how collection efforts are carried out have helped two credit unions in the Midwest grow their loan portfolios well above the industry’s national average.
For the $1.5 billion Affinity Plus Federal Credit Union in St. Paul, Minn., the collections department became the “solutions department” a few years ago, said Dave Larson, senior vice president.
“We didn’t stop lending. We benefited from people leaving the banks,” Larson recalled.
In 2002, Kyle Markland, president/CEO of Affinity Plus, moved forward with a plan to change the culture at the credit union that included hiring practices. Earlier this year, Markland was named Credit Union Times 2012 Trailblazer CEO of the Year.