15SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr What to do when the competition offers unreasonably low loan rates? A member of CUES Net™, CUES’ members-only email listserv for peer discussion, recently posed this question anonymously, wondering how other CUES Netters respond to such poaching practices.“We are in a very competitive market, and we have one or two financial institutions offering rates so low that they cannot possibly be profitable,” writes the CUES member, noting that his or her CU uses a risk-based pricing matrix for consumer lending. “We have been losing a lot of our auto loan portfolio to refinances, with a significant number at these competitors.”James Holt, CSE, CCE, CUES member and president/CEO of $274 million Mid American CU, Wichita, Kan., stands up to the competition. “We rate match for members that use us for their primary financial institution, so we make money on other parts of the relationship and maybe lose some on the auto rate,” says Holt. The CU has over 300 dealers in its network.CUES member Paul Meissner, CCUE, SVP/CFO of $720 million Credit Union of America, Wichita, Kan., recommends doing your research—both on the competition and your own system—before making a move. continue reading »
That’s the view of manager Brian Boyle, whose side travel to play Derry in Group 2 of the competition tomorrow.The Premier County were narrowly beaten by Galway last weekend.Brian believes the players can recover from that setback… Tipp FM will regular updates on the match, which gets underway at 2.30 on Saturday afternoon.