BECU Honored for Excellence in Lending to Business Members
November 16, 2015
November 16, 2015
BECU was honored with an Excellence in Lending Award for its successful strategy to engage existing business members and expanding lending to better meet their needs. The strategy was driven by small-business specialists who educated and coached frontline personnel on the unique needs of business customers.
This strategy has driven triple digit growth in BECU’s business loan balances, which grew from $88 million at the beginning of 2014 to $311 million as of August 31 of this year [from CUNA].
“Many of our members who use the credit union for their personal accounts are also business owners,” said Dana Gray, BECU Vice President of Business and Wealth Services. “Through training and support of our branch employees, and with the introduction of relationship banking, we are able to uncover business member needs and better serve them through referral to Business Specialists or Relationship Managers. We have found that this level of specialized business expertise is exactly what our business members have been looking for in their credit union.”
Six credit unions were honored with Excellence in Lending Awards, which were established in 2000 by the CUNA Lending Council and CUNA Mutual Group to identify, recognize, and share examples of lending excellence within the Credit Union Movement.
Applications were evaluated on the credit union’s strategy, programs, and performance, and awarded based on the credit union’s ability to serve members while sustaining sound financial performance for the year 2014.
For more on the winners, see CUNA’s coverage.
Questions about this story? Contact James Pearson: 206.340.4790, firstname.lastname@example.org.