NEW ORLEANS-Coming from a former comedian who hosted a cooking show and peeled potatoes with a workbench grinder, CU lenders got some not-so-silly advice-pay attention to what members and customers want in this changing economy.
Ross Shafer, head of Ross Shafer seminars in Parker, Colo., and author of the book "Are You Relevant?" told attendees at the CUNA Lending Council's 2011 Annual Conference that the most important thing they can do today is listen to what the market is saying and be ready to change.
"Stay nimble and be able to shift when you see things changing underneath you," said Shafer. "Public consciousness is speaking. For example, Burger King is getting rid of that creepy king and improving their menu with better food choices."
For credit unions, Shafer insisted, that same kind of move likely means to stop fighting the tough lending environment and come up with new, innovative products that help members pay down debt. "That is what they want today. People are deleveraging. That is not good for lending. But stop fighting and find new ways to help members pay down debt. You can do what people want, still make some money along the way, and create some raving fans."
