University of Lending - Crystal Lake, IL May 6-10, 2013 Hosted by Rex Johnson
In today's era of low interest rates, credit unions everywhere are looking for ways to generate more revenue. Higher yields are out there, along with countless opportunities to grow a prosperous loan portfolio. Unfortunately, many credit unions are turning away countless members that they could be helping out due to the fact that they have tightened up lending and have not been taught how to implement a High Yield Lending Strategy.
Let Rex Johnson and the University of Lending show you how to take advantage of the growth potential that is emerging everywhere!
Learn How to: - Approve 90% of all loan applications - Interview the member and analyze their next steps - Equip your collection department with the best solution strategies and look for loan opportunities in their account list - Make loans to potential bankrupt members without worrying about a loss - Finance homes for members who may have lost their home though short sale, deed in lieu of and foreclosures - Improve the overall operational efficiency and profitability of your credit union!
Tuition: $1595 per attendee $1295 per return attendee $750 per CEO/Board Member
About Crystal Lake The Northwest Chicago suburb of Crystal Lake is a short drive from O'Hare International Airport. Crystal Lake is also centered near several major arterial roadways and is served by the Metra commuter trains via the Union Pacific rail line for easy access to the city of Chicago.
Hotel (The University of Lending is held at hotel) Crystal Lake Holiday Inn 800 S. Route 31 Crystal Lake, IL Corporate Rate: $95.00/night *Please call 815-477-7000 for reservations **Reference the 'University of Lending' to receive rate. Official Hotel Website: www.hicrystallake.com
Limousine Service - H & M Limousine Service (800-323-8262) The fare is $45.00 (1 person/1 way/Shared car from O'Hare Airport to the Holiday Inn in Crystal Lake) and then $10.00 for each additional person in your group.
Taxi Service - Taxi service is available at the airport however fares to the Crystal Lake Holiday Inn can run $75.00-$95.00.
Rental Car Agencies - O'Hare offers a wide choice of rental car agencies. A list of some of the agencies at O'Hare and how to go about picking up your rental car from O'Hare can be found here.
Hotel Shuttle - The Holiday Inn offers a complimentary shuttle service within a 5-mile radius of the hotel between 7am - 11pm.
Monday, May 6, 2013: Registration/Continental Breakfast
Welcome and Overview
9:00 - 11:30 a.m. Philosophy/Scoring Models
We will present everything you need to know about scoring models, and: - How to recognize good scores from bad scores, & what direction the score is headed - How to make better decisions & see how “E” paper may be “A” paper & how “A” & “B” paper may be “D” or “E” paper - What makes a score change & how some loans you thought were good are being charged off
12:30 –4:00 p.m. Scoring Models
4:00 - 6:00 p.m. Cocktail Party
Tuesday, May 7, 2013:
8:00 –8:30 a.m. Continental Breakfast
8:30 – 11:30 a.m. Score Enhancement
12:30 - 4:00 p.m. Decision Making
Wednesday, May 8, 2013:
8:00 – 8:30 a.m. Continental Breakfast
8:30 – 11:30 a.m. Decision Making We will provide you with many tools to make decision making easy plus, we'll give you a decision making matrix so more employees will be empowered to make decisions on the spot, which will speed up service & help develop a strong lending team.Students will get an opportunity to use our new, “Decision Making Made Easy” model plus, the ALL NEW 1st of its kind - “High Yield Lending Strategy” Underwriting Guide. You will also learn: -How to make a loan that you would normally turn down if you ask the right questions -What loans you shouldn't make -How to avoid bankruptcies by easily recognizing what causes them
Thursday, May 9, 2013:
8:00 –8:30 a.m. Continental Breakfast 8:30 – 11:30 a.m. Decision Scoring Model High Yield Lending Strategy
Credit unions need yield.With our new High Yield Lending Strategy Underwriting Guide, you will be able to approve loans you never dreamed of & start serving more members by making loans, regardless of their score.
Friday, May 10, 2013:
8:00 –8:30 a.m. Continental Breakfast
8:30 – 11:30 a.m. Devloping a Sales Culture Learn how to: - Evaluate staff & the attributes of a good sales person - Identify you have the right people & show them the right techniques - Sell Credit, Life, and Disability to over 80% of your members - Cross-sell to new members & build your loan portfolio We’ll also provide proven Incentive Programs that work & all the tools to be a super salesman, help more members & enhance income.
Wrap Up and Adjourn
University of Lending - Classroom Topics
Score Enhancement - Learn:
ØThe overview of the components that make up a scoring model. ØHow to explain to a member why their score is what it is. ØHow to show a member how to DRAMATICALLY improve their score to earn a lower rate. ØHow to use Score Enhancement as the best cross selling tool to dramatically drive up loans. ØThe importance of holding seminars and providing free credit reports to members
Decision Making – Learn how to:
ØAnalyze the application and the credit bureau report.
ØSpot hidden opportunities.
ØMake the marginal loan.
ØInterview a member and direct the conversation with members while they are on the telephone.
ØCreate the right environment to approve loans.
ØReject a loan without upsetting a member.
ØTake a common-sense approach in making loan decisions.
Sales Skills – Learn how to:
ØSell 90% credit life and disability.
ØApproach members in person and by telephone. The credit report is your biggest cross selling tool, are you using it?
ØExplain a product and its features.
ØCreate a desire for a product.
ØExplain the benefits of insurance products, such as credit/life disability, extended warranties and others.
ØHow to implement a meaningful Incentive program
ØDiscover your members’ requirements, then meet and exceed them.
ØYou will not only approve loans while the member is on the phone, you will also learn how to close the loan.
ØThe importance of closing loans, not just processing loans.
ØNew members are a great lending opportunities.
Risk-Based Pricing – Answer the following questions:
ØAre we turning down potential loans and income by sending members to finance companies?
ØAre we being too selective?
ØAre our most creditworthy members going elsewhere for a better deal?
ØShould we consider a Risk-Based Lending program?
ØAre we already doing Risk-Based Lending but calling it something else?
ØHow can you implement a Risk-Based Lending program? We have the answer!
High Yield Lending Strategy – What can HYLS do for your credit union?
Ø An increase in their loan growth
Ø An increase in loan yield
Ø Turndown fewer members
Ø Charge-offs and delinquencies will decrease dramatically
Ø Insure consistency in decision making like you’ve never see before
Ø Create a new level of confidence in decision making
Ø Interviewing skills will greatly improve
Ø Response time will drop, the member will know right away if they are approved
Ø HYLS not only looks at their credit score, but adjusts it based on the member’s qualifications, which are often overlooked.
University of Lending - Entertainment/Eating The University of Lending provides a continental breakfast every morning, lunch everyday, and dinner for one night. We have highlighted other eating options at your disposal:
Lunch - The U of L provides lunch Monday through Friday. Each day lunch varies, consisting of one of the following: Traditional Italian fare, hamburgers, Italian beef and chicken, deli sandwiches, and Mexican fare. We also feature vegetarian selections.
Cocktail Party/Meet and Greet - Directly after Monday's class, the U of L sponsors a complementary Happy Hour in the Holiday Inn lobby. Drinks (alcoholic and non-alcoholic) and hors d'Oeuvres are served. While you get to know your classmates more, Rex Johnson and his staff at Lending Solutions Consulting, Inc. will be on hand to talk with you as well.
Wednesday night is typically the favorite night for our students. The evening begins after lunch when we bus students over to Lending Solutions, Inc. (LSI) to tour corporate headquarters/call center in Elgin, IL. While at LSI, students will see Rex's teachings firsthand, as they sit in on live phone calls, observe training classes, etc. After the tour at LSI, students will bus over to Pinstripes, (http://pinstripes.com/) a unique dining and entertainment venue. Dinner consists of your choice of filet mignon, grilled chicken, or fresh fish. Rex and his U of L staff will be in attendance. This is another great opportunity to talk with Rex and personally ask any questions you may have. If you have brought a guest with you, they are welcome to attend.
On Thursday morning, executives at LSI sponsor a hot breakfast (Consisting of eggs, sausage, bacon, hash browns and pastries) at 7am. This breakfast is not mandatory to attend but LSI cares greatly about your opinion and are interested in your thoughts about the tour. Please note this is the only hot breakfast of the week, so we feel it is worth coming to.
The Three Oaks Lodge, serving traditional American cuisine, is the Crystal Lake Holidy Inn's signature restaurant. In addition, there are dinning options for every palate available nearby. These include: