As a huge fan and insatiable student of Earth’s different cultures and practices – particularly those of the American varieties – I am always looking for new things to try and places to go, albeit incognito. This week, I was presented with such an opportunity when asked by colleagues to join them for lunch in celebration of a myCUmortgage expert who is moving on to share her expansive skill set with another credit union. We’ll miss you, Katie!
The venue for lunch was a rather new establishment and one which I’ve never visited previously. It was a sushi restaurant – and before you ask, yes… despite my loose resemblance to an Earth squid or octopus, I enjoy raw fish. It’s a great source of omega-3 fatty acids, protein and iodine, and oh how I love cream cheese. However, I must admit that the sight of octopus on a plate is a bit unsettling, so I stick to the regular sushi varieties.
Granted, I’ve been to a few of your sushi restaurants previously, but none of them were quite like this one. The service was almost completely automated. You selected your food from a conveyor belt that wove around the establishment. If you wanted to order from the menu, a robot politely delivered your food and drink; if your order was for something very specific, a small train rolled down a track to deliver it right to you.
Based on the lunch crowd it drew on a typical Tuesday, I can confidently say that this is a popular and successful establishment, and I attribute that to a few things:
- Innovation: The sushi restaurant is unlike anything in the area. Its design caters to the wants and needs of its customers. And the entire process is powered by cutting-edge technology that is easy to understand and user-friendly.
- Variety: Sushi is one of those meals that have an unlimited number of varieties, ingredients and options. Every time I looked at the conveyor belt, I saw something new and items I’ve never seen. While I wanted to try everything, my abdominal cavity was of limited capacity.
- The Human Element: Innovation and technology were completely supported by friendly staff who assisted patrons who had questions or were unfamiliar with the ordering process. I believe the best technology is backed by knowledgeable humans – this restaurant showcased that.
The same elements that make this restaurant a successful business can be applied to the work that credit union mortgage lenders do with their members. In fact, those very elements are key focal points for the experts of myCUmortgage as we provide and deliver solutions that will help our partner credit unions become GREAT mortgage lenders. They are also the elements credit unions themselves must provide to help more members with homeownership.
I never thought that mortgages could be compared to sushi, but let’s look at the restaurant’s elements of success in the framework of credit union mortgage lending:
- Innovation: It’s no secret that if credit unions are to be successful, they need to attract younger members – to do that, innovation and technology are critical. Today’s digital environment dictates that interactive, easy-to-use tech tools are required if we want to work with today’s borrowers. It’s something myCUmortgage is always looking at as we assist more of our partners, which is precisely why we’ve rolled out a new loan origination system, marketing CRM tools and Servicing Digital.
- Variety: If working with credit union mortgage lenders has taught me anything, it’s that every borrower is different and has their own specific needs in a home loan. Variety is the spice of life, after all, and myCUmortgage believes that a good product mix is vital for all credit unions to boast. Be it conventional or government, fixed-rate or adjustable, providing members with more options is vital to finding them the home loan that is right for them.
- The Human Element: This is the reason members come to their credit unions. It’s our way of doing business. No matter the technology or variety of products available, members consistently indicate they want a dedicated person to lead them along the homebuying journey through the life of their loan.
What tech tools does your credit union use to attract and work with borrowers? Do you have a solid variety of loan options available? How do you ensure your borrowers know they can rely on you – their credit union mortgage lending expert – to assist them with questions and concerns? Please, share your stories in the comment section below. This is a great opportunity to learn from each other’s best practices.
And to close out on my sushi restaurant experience, I’ve been told the establishment I visited is much like similar restaurants in Japan. So, you have an alien from Amicitia (that’s me!) who is constantly learning from American culture witnessing Americans embracing a Japanese cultural practice. It was like the movie Inception, breaking down walls sushi style. Just thinking about it makes my cranium ache… but it also satisfies my hunger, which is a beautiful thing.