How Credit Unions Can Help Members Learn About Loans

Sometimes it can be a challenge to educate members on the differences with loans. For many credit unions it’s a struggle to reach out to members and provide them solutions to their loan needs. If you are a credit union struggling to help your members with their loan needs, here are six ways to help your members learn about the loans you offer. 

Have lunch and learn sessions – Lunch and learn sessions are perfect for credit unions to connect to their members and gauge what their needs are. The sessions provide one-on-one attention that will likely make your members feel more comfortable about the loan process. You can educate your members about your products and let them know you are the lender of choice when the time comes.

Clear and concise literature – Your members will appreciate having something tangible like a pamphlet to take with them to review at their leisure. Providing pamphlets explaining your loans in a simple manner will come in handy with the conversation comes up at home for your members. It also provides a tool for your tellers to review with your members to show the difference between the loans your credit union offers.

Loan specialists – A loan specialist is someone that knows the ins and outs of the loan products your credit union offers. This person doesn’t have to be available to your members all the time, but having one available to your members will help create a sense of security for them which will be well received. Not everyone is comfortable with the loan process, and by providing a specialist it will help put your members at ease during the process.

Provide for each demographic – Loan needs can vary greatly for each demographic that’s applying for a loan. In many cases, it’s best to separate loan products by demographic so it makes more sense to your members. Focus the information of each pamphlet or flyer to a certain demographic. Your members will appreciate information that is tailored to them when you use examples for someone who is around the same age and going through the same scenario.

For example, with auto loans you have a wide range of age groups that will be applying including the new driver who is just 16 and will likely have a co-signer of a parent – or the grown adult who is buying their third new car. By providing information for several demographics for the same loan, you can connect to your members like never before. 

CU Solutions Group can help you reach your members through your loan programs at levels you never thought possible. With our campaign execution, print production and groundbreaking direct mail services we can take your current loan programs to new heights.