OMAHA, Neb.-A two-for-one loan sale can boost the portfolio, but it should include numerous loan types to make the deal more attractive to members.
That's what Centris FCU learned from its BOGO (buy-one-get one) loan program it ran for two months this summer (Credit Union Journal, Aug. 15.). The program produced solid results, said Seth Swier, VP of financial services. "BOGO attracted 30 pairs of loans the first month and 10 the second for just over $1.4 million."