Taking up residence in the southwestern corner of the state of Ohio has exposed me to many interesting experiences and cultural phenomena. For instance, this time of the year is particularly exciting because American football season is underway. Ohio plays host to many football teams on every level, including two professional teams and the reigning collegiate national champion. It’s also home to the National Football League’s Hall of Fame.
While I don’t recall much about my first official football “season” here on Earth, I do remember my Ohio-based colleagues experiencing frustration with their two professional teams – the Cincinnati Bengals and the Cleveland Browns. Both were average compared to other professional teams, and both seemed to struggle to make it into postseason play. Unfortunately for those fans, those same trends seem to be prevalent once again. At least that’s the case after this past weekend for the Cincinnati team.
True, at this moment, the Bengals are at the top of their division, winning their opening two contests. However, the team took a substantial blow on Sunday when their quarterback suffered a serious injury that will keep him sidelined for several months. Many analysts of the sport are saying it’s all over for the Bengals this year. They may as well pack up and start preparing for the next season. With their star player out, the franchise faces certain doom for its remaining games.
Obviously, these analysts do not work in the NCUL – the National Credit Union League!
Ok, so there’s not actually a football-related NCUL, but maybe there should be. I believe the success and allure of credit unions to their members is the positive, can-do attitude that we exhibit, particularly on the mortgage front. While we ultimately can’t always deliver an approved mortgage loan to every member, we certainly look at every option and opportunity that could help us get those members into homes. Unlike these NFL analysts who would simply quit at the first bump in the approval process or after a list of stipulations came back from the underwriter, the NCUL looks at those challenges as targets to overcome.
Our members put their dreams of homeownership into our hands because they trust their credit union partners. They trust us because we do business in the credit union way – it’s up to all of us to continue to build that trust with our members. We can do this through:
- Education: We need to remind ourselves that although we know the mortgage process better than a quarterback knows the playbook, most of our members only go through this a few times in their lives. We need to make them comfortable through educational materials and seminars that walk them through every step of the process while answering all their questions. They’re looking at you to lead them on that game-winning drive to homeownership.
- Transparency: If you want your members to put their trust in you, transparency is a key factor. Make sure there are no surprises, confusing terms or hidden fees driving up your members’ mortgage costs. Take the guesswork out of the process by helping members prepare a homebuying budget. Most of all, eliminate potential hassles by providing responsive support and showing them that you care.
- The Credit Union Advantage: In addition to education and transparency, a credit union has so much to offer its members in building trust. For example, when compared to other institutions offering mortgage services, credit unions have their members’ backs by offering:
- Competitive Rates
- More Flexibility
- Expert Guidance
- Understanding Their Community
Trust is the key to success. Just look at the Cincinnati Bengals this past weekend. When their starting quarterback went down, not only did they maintain positivity, but the entire team put their trust in the backup quarterback, trust to lead the team for the rest of the game, trust to help them put another W in the Win column. That trust paid off, as the team executed an exciting comeback win that won’t soon be forgotten.
Leading a member to homeownership is certainly a win for all those involved. Be sure to instill that trust in your members, and before you know it, you’ll both be on the podium holding up something even greater than a championship trophy – the keys to their new home!