A Mortgage Strategy With A 61% Growth Rate
Investments in products, technology, and personnel contribute to tremendous mortgage loan performance at Ventura County Credit Union.
When CEO Joseph Schroeder started at Ventura County Credit Union in October 2009, total loan growth was decreasing at a negative clip of -6.02%; its loan-to-share ratio of 62.44% lagged behind its asset-based peers’ 78.45%; and its loan originations and efficiency ratio were underwhelming for an institution of its size.
Changes, specifically to the mortgage side of the credit union’s operations, were nigh.
“[Joe] told us to retool the department because we were not funding many loans for the size of the department,” says Jackie Benoun, vice president of lending at the credit union. “It was just not the bread and butter of the credit union, and Joe had the vision to think we could become more competitive.” To read complete article follow this link ; A Mortgage Strategy With A 61% Growth Rate | Credit Unions
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