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Missing the boat
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Missing the boat
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Missing the boat
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Missing the boat
Magazine Article

Missing the boat

1997
Request Book From Autostore and Choose the Collection Method
Overview
Finance companies' share of consumer debt, including real estate loans, more than doubled from 1989 to 1995. Part of that growth is from finance companies' determined pursuit of home equity loans. Credit unions have only 13% of their members' home equity loans. It can be daunting for credit unions to compete with all the discounted rates and fees that bigger institutions can afford to offer. But credit unions that do offer home equity loans say business is booming. The top 2 reasons consumers want home equity loans are debt consolidation and home improvement. Credit unions are taking a number of marketing approaches to successfully stake a claim to their share of the home equity market, including advertising, cutting the paperwork, selling the advantages, providing easy access, and cross-selling.