Of course, there’s a fine line between being seen as helpful and being viewed as opportunistic, so it’s vital credit unions show they have their members’ best interest in mind.Some 34% of Americans only have enough savings to cover three months of expenses, according to. As the economy begins to reopen, consumers may need help bridging paychecks or managing bills. Be sure to market a variety of tools, such as skip-a-payment and missed payment forgiveness programs, to ease members’ near-term financial needs.
什麼是虛擬銀行Offer special, unsecured personal loans at a low rate. These flexible loans are attractive to borrowers to help cover expenses that arise from an unexpected change in their financial situations.
Consider reaching out to your most vulnerable borrowers. Have a conversation with them about how they have been affected and their financial challenges. Let them know you’re available to help navigate changes in their financial situation and determine their eligibility for alternative repayment or other loan relief options that might work better for them. Auto refinancing is a potential tool for this, as the rate differential is minimal. This means consumers can lower monthly payments by lengthening the loan term without experiencing a significant increase in the overall amount paid.
Prepare for the New Future
As credit unions focus on improving digital experience and serving member needs in the realities presented by the pandemic, it’s also important they position themselves for growth during changing economic conditions. This means asking questions like:
- Are there particular member profiles we should acquire that will help us weather similar crises in the future?
- Are we prepared for business in the “new normal?” What will our members need? What can we offer them and how can we grow the relationship as they reorganize their finances?
- How can we grow new deposits and help members achieve savings goals and help them be better prepared for a future crisis?
The global pandemic will not only change how people view personal finances, but also how financial service providers respond to consumers’ urgent needs. The digital experience you provide and support today will determine how you retain members, deepen relationships and acquire new members in the future.