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2014 Community banking best practices: Define your institution’s credit culture

Sageworks
March 14, 2014
Read Time: 0 min

Last week’s post that continued the 2014 community bank best practices series discussed the importance of mapping out your most common processes to increase consistency in the loan review process.

This final post of the 2014 Community banking best practice series will explore the reasons why you should define your institution’s credit culture.

In this clip from a recent Sageworks webinar, 2014 Outlook for Community Banks, Ancin Cooley, principal of Synergy Bank Consulting, explains why this is such an important issue this year.

Some of the key questions Cooley raised to bankers in the video were:

• Who are you?

• What defines you in terms of policy and procedures?

• What type of loans do you make?

• Does everybody understand what your institution’s credit culture is?

In a recent article, Cooley also goes on to explain four key components that help cultivate an effective credit culture, including leadership, communication, training and rewards/metrics.

To learn more about why defining your institution’s credit culture is so important this year, view the entire webinar on the 2014 Outlook for Community Banks.

Once you defined your credit culture, download the whitepaper Enhancing Credit Quality to learn how your policies and procedures should reflect sound underwriting standards.

About the Author

Sageworks

Raleigh, N.C.-based Sageworks, a leading provider of lending, credit risk, and portfolio risk software that enables banks and credit unions to efficiently grow and improve the borrower experience, was founded in 1998. Using its platform, Sageworks analyzed over 11.5 million loans, aggregated the corresponding loan data, and created the largest

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About Abrigo

Abrigo enables U.S. financial institutions to support their communities through technology that fights financial crime, grows loans and deposits, and optimizes risk. Abrigo's platform centralizes the institution's data, creates a digital user experience, ensures compliance, and delivers efficiency for scale and profitable growth.

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