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How to Maximize Your Community Charter
Targeting New Members Most credit unions that have successfully gained charter approval from the NCUA have done so by providing banking to “help serve the underserved” in a specific geographic area. The Community Charter effectively makes the neighbors of your current...
Is Your Auto Loan Portfolio Well Balanced?
Credit Unions have been helping members finance vehicles ever since they were first established. Over many decades, CU’s have grown their indirect auto loan portfolio with aggressive rates and technology upgrades through dealership financing relationships....
Welcome to our Spring 2020 Edition of Stellar Insights!
Introduction This year COVID-19 has taken a major toll on most families and businesses. During these uncertain times, we’ve had to adapt our business models and our lives in order to survive. I’m confident that soon after this is over, we’ll all be back better than...
“Too Big to Fail” and “Too Big to Service”
The Big Banks are Vulnerable We’ve all heard the phrase “too big to fail” related to the big banks. I firmly believe the past twelve years have proven they’re actually “too big to service” the bulk of consumers. Clearly, big banks play a major role in our economy. But...
Do you generate more “Loaners” than “Lifers”?
Every credit union understands the need to keep more assets on the balance sheets. Profitable loans are the lifeblood for all banking institutions. All asset managers understand the principle of generating interest income. But it is not as simple as monitoring the...
Stellar Thoughts: When it Comes to Marketing, Persistence is Key.
Dedication Leads to Success Over the past 20 years of working with community banks and credit unions, we have witnessed first-hand how high-performing institutions strategize to improve their marketing efforts. As simple as it sounds, the number one trait all these...
How to Serve the “Underserved”
Most credit unions started “life” as a SEG based institution. Many were designed to meet the banking needs specific businesses employees by financing loans, open savings accounts, and even transactional accounts through payroll deductions. 80% of all auto loans are...
Case Study: New Strategies to Grow Core Deposits.
Background: This 10-branch, community bank in the southeast currently has $709 million in assets. Stellar Strategic Group originally partnered with this financial institution in 2011 to help grow core deposits. Recently, we wanted to ramp up results for this client...
Increase Brand Awareness with No Marketing Cost
How can you Increase Brand Awareness? Many credit unions advertise through multiple mediums to try to measure “brand impression rates”. The goal is that with increased brand recognition and traffic your sales will grow in markets with increased impression rates. The...
A Special Message Regarding COVID-19
A SPECIAL MESSAGE FROM OUR FOUNDING PARTNER Dear Colleague, The COVID-19 Virus is disrupting many of the services that were part of “business as usual.” Dealerships are reporting a significant downturn in sales. Indirect loans are reaching new lows. Consumers are...
Loan to Deposit Ratios Peaking
Using Active Marketing to Combat High Deposit Ratios During our monthly analysis of loan to deposit ratios nationwide we looked at the ten highest ratios in each state among banks. To our surprise the average ratio was 109.5%. As we all know, there was a period from...