... In A Loop?
✅ How the Executive Leadership (ELT🔆) Team Explains RBL!
🔆 Until the Board introduced RBL, SECU "A-paper" borrowers were going elsewhere for their loans. 😎 Why?
🔆 Because our loan rates were way too high, we were not competitive. Everybody knew it! 😎 Why were you charging non-competitive loan rates?
🔆 We were trying to help members who never repay their loans. 😎 Why would you do that?
🔆 Beats me, I think it was CEO Mike Lord's fault. 😎 How did RBL fix all that?
🔆 The Board lowered loan rates for A-borrowers and raised them for all the other SECU members. 😎 Did charging a fair, competitive interest rate increase loans?
🔆 Oh yes, when you charge a fair, competitive loan rate, members immediately notice! Loans have really taken off since RBL! 😎 What would have happened if the Board had simply lowered the loan rate for every SECU member?
🔆 Why on earth would you do that? What's your point? 😎 Would loans "have really taken off" if the Board had chosen to just charge that same, lower, fair rate to all SECU members?
🔆 Well of course they would have, but you don't understand - that's not RBL! 😎 Oh...
[😎 Bonus Question: What will the "A-paper" savers do if you're not paying fair, competitive interest rates on member deposits? 🔆 That's not my problem, you'll have to ask the Board...]
Fruit loop logic... unbelievable!