Convention Coverage: Lending and Sales Expert Don Arkell Leads Two Breakout Sessions on How Credit Unions can use the Digital Revolution to Provide the Best Services in Lending, and How to Lower Expense Ratio While Increasing Loan Volume

ATLANTIC CITY, N.J. – Lending and sales expert Don Arkell led a session Monday afternoon and Tuesday morning on how credit unions can learn how they can maximize remote delivery to increase sales, and how CUs can organize their loan department to maximize success, the difference between direct and indirect lending, motivating employees to achieve better results, the loan delivery channel that is best suited for you, and how to maximize efficiency and consistency.

In his first breakout session, titled “Using the Digital Revolution to Deliver Lending Results,” Arkell challenged credit union management to deliver the best in service when it comes to lending in the present moment and in the future.

Some factors that Arkell touched on are ways credit unions can transform themselves to be the best in lending for their members:

  1. How credit unions can organize their loan department to drive success further;
  2. How credit unions can lower their Expense Ratio while increasing their Loan Volume;
  3. How CUs can motivate employees to achieve better results;
  4. The loan delivery channel CUs should be using exclusively;
  5. Success stories from credit unions by using these teachings;
  6. And how credit unions can maximize efficiency and consistency.

Arkell brought everything together by stating how a lot of credit unions were not “Born Digital”, and it is important to implement these strategies to bring business to the forefront and build their lending success. He has spent his career transforming the way businesses perform through sales, lending and leadership. Arkell’s leadership skills and passion for what he does shined through in his session.

In his second breakout session, titled "Lower Expense Ratio While Increasing Loan Volume" Arkell pointed out that millennials are rarely traveling to financial institutions anymore. There is a level of distrust and with more digital platforms allowing financial services to be done online, millennials conduct their business at home. He listed five reasons why loans should be conducted by telephone, internet and on a mobile device:

  1. These technologies work for all members, regardless of age
  2. There is a much lower per-application cost than doing the loan at a branch
  3. They are more convenient than traveling out to a branch
  4. Employees can be more productive using these platforms
  5. Employees only need to perfect one form of communication (voice).

Arkell's presentations, as well as other speaker presentations, are available for download the NJ CU Convention Web site.