Communication

Years ago, I had a car loan customer that was over 30 days past due on the loan. I called the customer almost daily and left messages for them to call me. I never received a return phone call.  Once the note became 45 days past due with no communication from the borrower, I hired a towing company to repossess the vehicle. Amazingly, after the car was repossessed, I received a phone call. The borrower stated that he had been injured and was unable to work, so they were behind on the payment. No matter what you have heard from others, most bankers are compassionate and are willing to help. BUT we have to know the situation so we can help. Without communication, bankers’ minds go to the worst-case scenario and become frustrated. Proactive communication will likely solve the issue early and prevent all parties from becoming frustrated.

When I first start working with a customer, I will tell them that we can work through almost every problem if we are communicating. If we are not communicating, then we have a real problem. Lack of communication can come from both sides. I stress the importance of this because experience has told me that customers feel bankers can be intimidating and scary to talk to. Most bankers are not scary to talk to, especially if a customer is proactively communicating with them.

Communication is extremely important in all relationships, business or personal. Employee surveys in every bank I have worked for complained about communication and how it could be better. Lack of communication is also one of the main reasons for marital stress. I can’t express how important communication is in all parts of our lives. I know I can get better. I hope everyone reading this article makes an attempt to communicate better in relationships in your life. 

-Ken Mehlin, Chief Credit Officer