DEARBORN, Mich.-Mark Shobe said he learned that the unexpected collapse of the economy reinforced his thinking that you can never be too prepared.
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The CEO of DFCU Financial Credit Union said one of the reasons the $2.5-billion CU has weathered the recent economic downturn is because it had already instituted processes to manage credit risk. Five years ago the CU capped unsecured credit. "No member can have combined credit card and unsecured line of credit exposure of more than 25,000," Shobe said. "The second thing we did was review FICO scores on a periodic basis-once a year or biannually depending on what is going on in the marketplace."
