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Business Development Reminders for Auto Loan Growth

Credit unions should tap into existing business relationships to drive, grow and nurture opportunities and influence.

By Frank Rinaudo | Updated on July 14, 2017

Is your credit union placing enough emphasis on the value derived from business development activities? Tapping into existing relationships, from members to vendors, to nurture opportunities is often an overlooked activity. Doing it well means avoiding selling at your prospect. Instead, you must change your perspective, as you might be missing openings that will lead to greater value and spark member interest. Nothing happens until there’s a product that will create revenue for the credit union that a member also craves.

Driving business involves many steps, including boosting your influence and exposure in the marketplace. The best way to start is by looking at member-valued products and services. Business development isn’t about pressure sales, it’s about working to build trust, along with having a keen understanding of what drives members to react.

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