Category Consumer Finance

Customer Appreciation and Retention

We appreciate our customers’ business and loyalty. Although we spend a lot of time focused on developing and improving our business, our priority is always retaining our current customers through business practices that benefit them. It is imperative to a company’s success to have a sincere appreciation and retention program. In a recent study, 89% […]

Interview with C Michael Exteriors, Part Two

C Michael Exteriors is a family-owned home improvement contracting business run by Bill and Cyndy Bergmann in Missouri. They have a long history in the industry and are dedicated to running their business the right way. Sarah (Marketing) and Tim (Sales) from Medallion Bank sat down with them to discuss their business history, their experience […]

Interview with C Michael Exteriors, Part One

C Michael Exteriors is a family-owned home improvement contracting business run by Bill and Cyndy Bergmann in Missouri. They have a long history in the industry and are dedicated to running their business the right way. Sarah (Marketing) and Tim (Sales) from Medallion Bank sat down with them to discuss their business history, their experience […]

Lies and statistics

You may recognize the title to this post as part of a famous quote popularized by Mark Twain. There are two key words missing from the quote, but this is a family friendly blog, so…. Let’s establish up front that I’m a big fan of marketing. Especially today, where marketing is truly data-driven and often plays […]

Second verse, same as the first?

In 2007, I worked for a community bank with a long history of high performance. At the time, I was running the only national business line, the home improvement finance business. Competition was pretty fierce but our volumes were growing steadily. Most of the water cooler chatter in my circles was about loan sales to keep the […]

Who are your competitors?

Markets change. After long periods of stability, one or more entrepreneurial disrupters enters the market and puts its stamp on an industry. Some of the old guard will fade away, some will adapt, and the new guard will take control. Eventually, after some time passes, the new guard becomes the old guard and the market is […]

Gentlemen, start your engines

It’s been a month’s hiatus from the blog and Sarah and I have itchy typing fingers. Happy New Year! We expect to have a busy 2015. Not only will we grow substantially – thanks to our contractors – we will be starting and completing projects that should continue to improve our performance. But what is […]

Lady Redundant Woman

If you have younger kids, you may have seen the TV show Word Girl. One of the villainous characters is called Lady Redundant Woman. Lady Redundant Woman obtained the powers of duplication when she was fused with a copy machine. As you might expect, she often speaks in redundancies. Why this education in unusual children’s […]

An update on the CFPB

We’ve been silent for awhile on the subject of lending discrimination and the CFPB, but that doesn’t mean the rest of the lending world stopped talking about it. Today, for example, Toyota Credit announced that it has been accused of discrimination by the CFPB and the Justice Department. Like most of the recent claims against […]

Choosing between indirect and direct lending

Though a fairly narrow specialty, there are two types of lenders in home improvement financing. The majority by volume are indirect lenders, a list of banks and finance companies that includes Medallion Bank. The majority by numbers are direct lenders. Direct lending is what most people think of when talking about lending. A direct lender works directly […]