As we begin to emerge from the pandemic, generationally-low interest rates are at least one contributor to the real estate price boom gripping much of the country (Spring of 2021).
- The Canadian DIY market is projected to grow by 4% this year
- The Canadian economy is poised to roar back, the National Bank of Canada recently upgraded their outlook by over a full percentage point GDP growth, to 5.4% as of March, 2021
This is great news for CU’s.
6 things you can do right now to position your CU for growth, in this environment:
- Reach out to Members now – and remind them of the breadth of your services – from personal loans, credit cards, HELOC’s, PLOC’s, Mortgages, and commercial loans.
- Reach out a second time – and remind them of the competitiveness of your pricing. When it comes down to it, a Member will be family-loyal first (meaning price will be the determining factor).
- Be visible where it counts – get on RateHub, and other aggregators.
- Cleanse your commercial prospect database, and reach out to new prospects with an unbeatable offer to invite a rep in for a conversation.
- Get in front of realtors, business brokers, and entrepreneurs.
- Requalify your personal membership database to uncover prospects who have developed new businesses, or are considering it.
Contact us to talk about a member-engagement springboard, and get the intelligence needed to drive lending services into your market.