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Strategic Plan Presentation

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by

Brad Wade

on 24 October 2014

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Transcript of Strategic Plan Presentation

Rate/Price: Vanishing Rate Loans
Rate drops 0.25% (25bps) after 6 months with no delinquencies
Rate drops 0.10% (10bps) every 6 months thereafter
Rate drops to ZERO (0%) for the last 6 months

Easy to Qualify
Pre-approval letters targeting B and C paper borrowers

Eliminates Worries
On-time payments will improve credit scores
Optimal loan to asset ratio: 80%

- current loan to asset ratio: 67%

= Room for growth!
Growth Opportunities
Granite Credit Union
Location: Salt Lake County
Members: 30,000
Assets: $350M
Branches: 8
Rank: 10th largest in Utah
Customer Segments
First Time Buyers
High Risk Buyers
Regular Buyers
Competition
America First Credit Union
Goldenwest Credit Union
Mountain America Credit Union
Cyprus Credit Union
Granite Credit Union
Deposit Accounts
Share Savings
Checking
Money Market
IRA
CD
HSA
High Risk Buyers
Credit History: Poor
Nationally: 37% of all auto loans
Granite CU: 15% of all auto loans
Strategic Plan Presentation
Main Competitor:
America First Credit Union
Largest auto lender in the Salt Lake County market

Mace Baesler, Ben Browning, Julie Morgan, Brad Wade
The Opportunity
Optimal loan to asset ratio: 80%

- current loan to asset ratio: 67%
Optimal loan to asset ratio: 80%
Top 10 Attributes
Auto Loan Buyers
1. Rate/Price
2. Easy to Qualify
3. Fast
4. Convenient Location
5. Friendly Service
Rate/Price: Vanishing Rate Loans
Rate drops 0.25% (25bps) after 6 months with no delinquencies
Rate drops 0.10% (10bps) every 6 months thereafter
Rate drops to ZERO (0%) for the last 6 months

Easy to Qualify
Pre-approval letters targeting B and C paper borrowers
Focal Points
Rate/Price: Vanishing Rate Loans
Rate drops 0.25% (25bps) after 6 months with no delinquencies
Rate drops 0.10% (10bps) every 6 months thereafter
Rate drops to ZERO (0%) for the last 6 months
Granite Credit Union
Lending Products
Auto Loans
Indirect Auto Loans
Personal Loans
Mortgage Loans
Home Equity Loans
Business Loans
Visa Credit Cards
Our goal is to grow the

DIRECT AUTO LOANS DEPARTMENT

at

GRANITE CREDIT UNION

by creating more value for

HIGH RISK BUYERS

than

AMERICA FIRST CREDIT UNION

does.

6. Local Business
7. Eliminates Worries
8. Technologically Accessible
9. Privacy
10. Expertise
The Goal
$5 million in loan growth over 5 months
Direct Auto Loans
Full transcript