How to fail at mobile lending without even trying

first_img 8SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Preston Packer Preston Packer is the Director of Sales & Marketing for FLEX. Preston has been with FLEX since 2000 and has worked in various sales management roles over that time. Preston’… Web: Details Your 2016 goals and strategy are no doubt set, and if you’re like most credit unions we talk to mobile lending is on that list. We see the rise in social media and the need to appeal to younger members as the main push for CU’s to adopt mobile lending, and we understand that technology is changing the way members access financial services. However, as much as mobile lending is an opportunity for credit unions to gain more revenue and new members, how much of an impact will it make to your bottom line? Will the amount of new business justify the expenditure?With the right core in place, you are presented with the opportunity to introduce new technology to your product offering with relative ease. Thanks to integrated apps, if your credit union core has kept up with the pace of technology, going to market with a product like mobile lending may not require as much up front work or costs as you fear.View our “Loans To Go!” eBook on using your core technology to master mobile lending.But just having the product available is not enough to ensure success. Here are some common ways to fail in your planning and implementation of mobile lending for your CU:1) Making too many assumptions about your members and their demographics Most credit union executives understand the demographics of their current and potential member base, and how they are changing, and then project those changes on to their offering. But be careful in drawing too many conclusions. Credit unions with aging members should not assume that mobile technologies only target the young. However resistant to adoption, older members will depend increasingly upon mobile technology as they live longer lives and as their mobility declines. Consideration of demographics like this can illuminate a long-term vision for mobile lending.2) Assuming your mobile lending is the only game in town Gauge your members’ susceptibility to competing alternatives. It’s a strong bet that your neighborhood loan shark can be found in the app store. Whether from some obscure shadow banking outlet, or from a major player like Quicken or Google, members have many new sources of cash. Take the time to understand these encroaching services and assess the extent to which your members are susceptible to them. As you do so, you will see opportunities to differentiate and better estimate demand for your mobile loan offerings. For example, credit unions who offer remote controls for cards enjoy a distinct competitive advantage in promoting credit card loans to members who travel, who shop online or who might be otherwise uniquely exposed to fraud risk.3) Targeting members’ stereotypesA recent study around the use of big-data reveals that “interests, opinions and overt behaviors are a much better indicator of customer demand” than traditionally-defined market segments. In other words, indicators like income, ethnicity or education matter much less than your member’s personal credit score, substance abuse record, work-place habits or spending patterns.While most credit unions think big-data is something accessible only by government entities and internet wizards, it’s really not. Big-data is any resource that helps you construct an intimate picture of how your members behave and what motivates them. As you analyze information you already possess in your loan portfolio and account records, you will better see how those pictures of your members fit into your strategic landscape for mobile lending.4) Not even tryingSimply NOT considering and thoroughly analyzing mobile lending is a sure-fire way to fail at it.  Even if you determine it is not right for you, doing your due diligence to assess it will benefit you, while ignoring it would be a huge mistake. Most Americans now own a mobile phone and mobile has overtaken PC usage on the internet. It was just announced that in 2015, the number of weekly mobile bankers exceeded weekly branch bankers. Nearly 70% of online product searches lead to action within an hour and mobile loan products should be no exception!Assessing the impact of mobile lending is important, but be sure you get there, and get your implementation right. Tier-1 mobile apps, such as those developed by FLEX, integrate directly into your credit union core processing system so they can deliver the efficiency and advanced capabilities that your staff and your members will demand. You’ll find integrated systems to be indispensable to your success in the mobile arena.Download our new eBook: Loans To Go!last_img read more

Decatur County REMC elects new board members

first_imgGREENSBURG, Ind. –The Decatur County REMC held their annual meeting at the Greensburg High School Tuesday evening, and new board members were elected before the night was over.Jeff Lawrence was elected to District 3.Steve AmRhein was re-elected for another term in District 4.Jason Barnhorst was elected to District 7.Dan Schantz was elected to a one year term to District 8 after the previous board member resigned.Randy Ostendorf, Edward Hodson, and Rick Hoeing were elected for nominating committee to Districts 2, 4, and 5 respectively.At the meeting officials gave a re-cap of 2016.Don Schilling was recognized after serving as CEO for 38 years, and Brett Abplanalp was recognized as the new CEO.last_img read more

Thelma Struble, Caldwell: Jan. 16, 1934 – Oct. 6, 2013

first_imgThelma StrubleThelma Pauline Johnson Nuse Struble left this world to be with her Lord in Heaven October 6, 2013.Born January 16, 1934 to Edwin Clarence and Edna Dorothy Lungren Johnson, Thelma was a long standing member of the Caldwell community.  She attended grade school at District 99 and the Bellview School in the country and graduated from Caldwell High School with the class of 1951.She received her bacholors degree in teaching from Soutwestern College in Winfield, Kansas and taught school in Goddard, Kansas for 8 years.  On December 28, 1958 she married Lavern Lee Nuse.  In 1960 they bought a farm northwest of Caldwell from Thelma’s parents and started their family. Born to Thelma and Lavern were Dale, Derald and Danita.  Thelma started teaching in the Caldwell public school system in 1970, and was an exemplary teacher and roll model, touching the lives of many children until her retirement in 1996.  Thelma conducted workshops and seminars in her field of special reading.She received her Masters Degree in special reading from Northwestern College in Alva, Oklahoma in 1974.  She was a member of the International Reading Association, and was president, vice president and a coordinator at the State and district levels.  Thelma was also a member of the Caldwell Teachers Association, the Kansas Education Association, and Kansas State Collegiate Association.  Thelma was a member of the Corbin United Methodist Church and devoted her life to the Lord.  She was a member of the United Methodist Women and served many years as president.  Thelma was also very involved in the local Skylark 4-H club where she was a community leader and project leader for many years.Many young 4-H’ers learned to bake breads, cookies and pies and the kitchen stayed warm preparing for the fair each year.  She also spent hours helping kids prepare speeches and demonstrations for 4-H days.  She believed in helping kids and preparing them for the future. Thelma was an instrumental leader in starting the Caldwell Care Network and spent hours volunteering for this special service in Caldwell and volunteering at the Caldwell Hospital.  Thelma was an inspiration to the whole community.  She was a daughter, sister, wife , mother, teacher, author of recipes and community organizer.President Bush personally honored her in 1991 as one of the thousand lights in the United States of America and was a “Point of Light”.  After Lavern’s death in 1981 Thelma remained on the farm until the March 13th tornado of 1990, when she moved to town to reside with her Mother.  Thelma married Harold Eugene Struble August 11, 1991 and they made their home on south Osage in Caldwell for 22 years.  Thelma is preceded in death by her first husband Lavern, parents, Edwin and Edna Johnson.Survivors are husband Gene Struble of Caldwell, son, Dale Nuse of Caldwell, granddaughter Makenzie Nuse of Wichita, Kansas, grandson Braeden Nuse of Kechi, Kansas, son, Derald Nuse and wife Connie, grandsons, Austin and Dalton, of Rose Hill, Kansas, daughter Danita, and husband Shane Williams of Dodge City, Kansas, brothers, Melvin Johnson of Caldwell, and Clifford Johnson and wife Marty of Katy, Texas.Funeral services will be held 10:30 a. m. Thursday, October 10, 2013 at the United Methodist Church in Corbin, Kansas.Interment will be in the Corzine Cemetery, Corbin, Kansas.Memorials may be given in memory of Thelma to the Corbin United Methodist Church or to the CHS Alumni Association Special Project Fund.To share a memory or leave a condolence please visit www.schaeffermortuary.infoArrangements by Schaeffer Mortuary, 6 N. Main, Caldwell, Kansas.last_img read more

Paul Young happy for first Red Stripe Premier League win at Waterhouse since return

first_imgCoach of Waterhouse FC Paul Young is very elated with his first win in the Red Stripe Premier League (RSPL) since he took charge late last year.Waterhouse won their first game in the last 11 matches following a 2-0 triumph against Humble Lion away at Effortville Community Centre in May Pen on Sunday.The win pushed Waterhouse out of the relegation zone for the first in a long time as they eased to 20 points, just one ahead of Tivoli Gardens and Rivoli United.”I’m very elated for the win as the team deserved the points. But we have a lot of work to do in the final stage of the preliminary round,” Young told The Gleaner.”We’ve beaten a top-four team, and that is good. It is a platform for us to move forward. The aim is to get as much points as possible in the remaining 11 games,” the former Reggae Boyz striker added.Although Waterhouse are not yet clear of relegation, Young says there is the possibility that they can make the last four and challenge for the title.”Well, if after six matches in the next round and we can challenge for the top four, we will give it a shot,” the former Wolmer’s Boys’ Manning Cup star reasoned.Waterhouse added some experienced players, as well as schoolboys, to the squad, and Young is impressed with the group.”We added veteran Kevin Lamey, Theo Brown, Weston Forrest, plus Manning, and daCosta Cup players such as Paul Young Jr, Kimarley Campbell, Dominic James, Dale Reid, Nicholas Nelson, and Akeem Chambers; and they are working hard for the team.”We have a good balance of youth and experience, so it is a work in progress. We need to continue winning games,” Young noted.Waterhouse will next tackle Montego Bay United in the RSPL on Sunday at Drewsland.last_img read more