3 Loan Growth Tips for 2013
We asked Brett Jorgenson, chief lending officer at the $1.1 billion Gesa Credit Union in Richland, Wash., and last year’s Trailblazer Lending Officer of the Year, about loan portfolio growth tips for 2013.
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If you have a business lending department, continue to expand it with deposit/merchant services. This allows you to offer a complete suite of products and services to obtain all of your members’ commercial services and accounts. If you can become their complete source for all things business, this will increase the chance you will get their future loans as well.
Indirect lending represents a significant part of many overall lending portfolios. If you do not have an indirect lending program, you should look at establishing one. However, staff your department with experienced lenders and establish the necessary controls to manage and monitor your program.