EL SEGUNDO, Calif. — Xceed Financial Credit Union is preparing to launch a new CUSO offering an array of interrelated products and services primarily aimed at bolstering loan growth.
Global Enterprise Resource Group will offer lending risk management, marketing and training to credit unions of all sizes, according Ray Shams. He currently is chief lending officer for the $907 million CU, based here, and will be the president and CEO of Global.
"The key is our very comprehensive approach," Shams told Credit Union Journal. "We sit down with the clients to see what their needs are, and we supply solutions and strategies."
According to Shams, Global will provide help in a number of areas, including improving portfolio goals, a CU's balance sheet, loan origination, underwriting, loan purchase and participation programs, improving collections and charge-off management, charge-off sales and new lines of business based on the CU's membership base.
"We maximize returns while retaining safety through risk management," he said. "On the marketing side we can create new campaigns or help them with social media. Many credit unions of all sizes need help in these areas. We have brought a lot of talent and experience."
So far the consultancy has been rolled out slowly, leveraging the Xceed Financial name. It currently has approximately 40 clients. A full roll-out is in the works, with a plan to make a big splash at the California and Nevada Credit Union Leagues' Annual Meeting and Convention, taking place this week in Palm Desert, Calif.
"We are approaching it in a very strategic manner," Shams explained. "We are very proud of the infrastructure we put in place. We repositioned internal talent, and, on top of that, we handpicked new talent that bring experience and the core competencies we need. We have spent two years putting a team together, and we will continue to add to that team. It is a very comprehensive team."
Kate Riedel, Xceed's director of strategic initiatives, said Global will offer CUs assistance with marketing over multiple channels, both traditional and online, and in a cost-effective manner.
"A lot of the areas support each other — marketing helps lending," Riedel said. "Truly they are our core competencies."
More information is available at Global's website, which can be found at:
