LAKE MARY, Fla.–Against the backdrop of improving ratios, Sam Kilmer sees a bottom-line opportunity from investments in loan origination and member relationship management systems.
"We see these areas of investment helping credit unions in the near term," said the VP of market development at Harland Financial Solutions.
Loans are projected to grow at a quicker pace this year than originally projected, said Kilmer, and new memberships continue to be strong. But Kilmer cautioned that the new members are bringing in more deposits than loans.
Loan origination systems and MRM tools, according to Kilmer, will help CUs capitalize on increasing loan demand and will improve loan-to-share ratios. Besides giving members speedier and more convenient access to loans, loan origination systems bring more lending conversations to the front-line, offered Kilmer, which is what's needed now to move more loans. "It gives the credit union the ability to open up a loan while they are having a conversation with the member about a deposit account. And I don't mean a chat. I mean having a rich dialog, whether in-branch or online."
Harland has also seen a "material resurgence" in CU investments in member relationship management capabilities, explained Kilmer. MRM tools, too, enrich member conversations, which can lead to greater wallet share, such as loans. "MRM lets you document you had a conversation with the member, that you did make a special exception, or that their son or daughter is coming up for a college loan. You document all those interactions so the next experience you have with a member is an informed experience with the likelihood of getting more of their business."
