Shopping behaviors differ among loan categories,?Filene?research reveals. But typically, not even half of members compare loans from different institutions.
Credit unions will depend on member relationships to influence the ship into the next decade, but the tide is turning-and fast. Today’s low-rate environment could persist for years.
That’s why more consumers looking for loans requires convenience most importantly.
In the future, existing member relationships will not be enough to improve your share of high-value loans for example mortgages. Actually, a study of key attributes behind members’ loan preferences reveals low rates, competitive fees, and also the ease and speed of the application process each play a substantial role, according to Filene’s”?Linking Member Satisfaction to Loan Decisions.”