PORTLAND — Chris Anderson believes a "window of opportunity" has always been available to CUs and isn't limited to the current struggling economy.
"Even when times were good for banks there was opportunity for credit unions," said Anderson, VP-lending with Advantis CU. "The key is to realize your niche and focus in on what you can control. There is always an underserved market somewhere and the recent tightening of credit by banks simply made it easier to see the underserved. It also created slightly more consumers who were not able to borrow. In the end however banks will lend again and credit unions must find their respective niche. I think the niche is providing service that exceeds the expectations of the consumer."
What credit unions should be focusing on, is finding those consumers where service matters, Anderson said.
"We are positioned to truly do what is in the best interest of the consumer and not chase record profits," he said. "We have the time, energy and expertise to truly work with our member base on any financial matter that comes our way. I liken Advantis to the tortoise in the race between the tortoise and the hare. We are steady, not flashy and consistent. We lend money as if it were our own. We feel we have struck a balance of risk and reward to our members from a lending perspective."
