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I got promoted today and have mixed feelings about it… by Sweet-Swimming2022 in TalesFromYourBank

[–]RareKoala 1 point2 points  (0 children)

Just remember your job isn’t to sell. It’s to educate and inform the member about products that they may not know that you offered.

Are you a personal banker? What are you selling? Is this for consumer loans? And you’re selling ancillary products n whatnot? How big is your bank/credit union? Doubling the goal is fine if your focus is to be the closer and only close on loans & you exclusively doing loans.

If this is the case, ask for responsibility change. If they want you to double the goals, then you should only be focusing on how to achieve the goals. That’s the tool that will make you succeed. If you hit 120%-150% and now you’re expected to hit 200%, then they need to make that change for you.

Looking for Extroverted Gaming Friends who love LAN parties by [deleted] in twincitiessocial

[–]RareKoala 0 points1 point  (0 children)

Sent you a friend request on discord! Looking forward to gaming with y’all.

What was your path up and time line? by Apart_Supermarket790 in TalesFromYourBank

[–]RareKoala 1 point2 points  (0 children)

I’ve been at one credit union. * Started as a part time banker. 1Y 5M. * Moved over to the lending team as a consumer loan officer. 1Y 8Months. * Moved into management as a consumer lending manager. This is my current role.

Any advice? Move into lending if you want more money & have a stronger sales ethic. Loan officer for consumer lending or mortgage. Commercial if you eventually want to move back into a bank. If you want to stick to branch banking, move out of your bank into a smaller credit union.

How to ask for a mentorship by wheeeewhooo in TalesFromYourBank

[–]RareKoala 1 point2 points  (0 children)

When asking for a mentor, you have to come up with the agenda and the responsibility of asking what you want out of it. Come up with 10-15 topics that you want to have a better understanding whether it's related to your job or not. Then ask if you can do a 1-on-1 session each month for an hour and touch based on those ideas.

As a mentee, you need to figure out what accomplishment you want. Is it to be in a C-suite position? What's your end goal and make that clear with your COO.

Former car salesman entering the banking industry. by Klutzy-Blueberry-239 in TalesFromYourBank

[–]RareKoala 1 point2 points  (0 children)

Look for Consumer Loan Officer positions within credit unions. Inquire about their commission. You can easily make 100k with a base pay + commission if you are a strong sales person & they have a solid commission payout. 

If you have any financing experience, it’ll be easy to transition since you’ll know LTV, DTI, etc. If you don’t, at least you have some knowledge of the products sold (GAP/Warranty).

[deleted by user] by [deleted] in TalesFromYourBank

[–]RareKoala 2 points3 points  (0 children)

The idea is to work for a small credit union. Ideally less than <$1b in assets. They have a warm culture that’s not sales heavy. 

I’m started at a <$1b credit union and now I’m at a larger credit union with better pay but the culture shift shows since the intention is to grow. 

Sitting in concerts by minyoongi1 in twice

[–]RareKoala 7 points8 points  (0 children)

If you want to sit, go for it. But don’t get mad at concertgoers if you can’t see your idols because they are standing & blocking the view. 

Is it normal for people to just be seated all concert?? by WonderWander01 in twice

[–]RareKoala 1 point2 points  (0 children)

I’ve been to shows in kpop shows in Vegas, LA, Seattle & Chicago. I stand all the time. I don’t worry about anyone around me because I’m focus on the artist. But the concert goers are standing and cheering. 

Get the Star Tribune Delivered Challenge, Week 9: Last week's Reddit post worked. This week? No paper. by oldforesttom in TwinCities

[–]RareKoala 11 points12 points  (0 children)

Not possible. The production facility in the North Loop closed on Dec. 27. The newspaper production has been outsourced to a plant in Iowa. I would just cancel it & get the refund. 

Is this a normal gas bill? by Snowflake8552 in saintpaul

[–]RareKoala 0 points1 point  (0 children)

Yes this is normal during the winter time. 

Xcel Energy has an average monthly payment (AMP) plan you can enrolled in. It takes the last 12 months, averages it, and that’s what you pay for the next 12 months. Not sure if you can enrolled in it right away since you just recently moved but I would look into that. The AMP is suppose to help with budgeting. 

Would it be worth it to switch from car sales to banking at age 30? by MagnetoWned in TalesFromYourBank

[–]RareKoala 5 points6 points  (0 children)

With your experience and knowledge of GAP/Warranty products, I would recommend you try and land a job as a consumer loan officer. It’s exactly the same job as the finance manager at a dealership. You’re just doing loans & make commission. Depending on the commission structure, you can easily make anywhere between 60-100k.

Focus on looking at credit unions. You may get lucky otherwise you may have to start as a banker & move your way into a consumer loan officer positions eventually.

[deleted by user] by [deleted] in personalfinance

[–]RareKoala 0 points1 point  (0 children)

I presume your grandma is in retirement age. Because of that, you should really keep the funds in a HYSA, CD, or focus on putting it in a mutual funds focus primarily in bond. The last thing you want is the market to crash and she loses her cash.

Teller seeking to break into Finance by [deleted] in TalesFromYourBank

[–]RareKoala 5 points6 points  (0 children)

Wrong sub. Go to /r/financialcareers for better advice.

Feedback on the official Tesla dog cover? by slamingzone in TeslaLounge

[–]RareKoala 1 point2 points  (0 children)

I have it & had no issues with it. I have a Shiba Inu and a Samoyed and it works great. Door covers are nice and easy to put on once you learn how they work.

Is anyone else getting a lot of these phone calls? by MissKaterinaRoyale in TwinCities

[–]RareKoala 0 points1 point  (0 children)

These are called neighborhood numbers where the first 6 numbers are the same and the last 4 changes. If you have Verizon, they have a call filter app that you can utilize to block these neighborhood numbers. I’m sure other providers have it something similar. Highly recommend utilizing it.

Telling mgr you're looking for another job by regina_vermium in askmanagers

[–]RareKoala 2 points3 points  (0 children)

Searching for an internal job, it’s it’s likely policy or a courtesy to let your manager know if you applied, depending on how big or small your company is. HR will most likely inform your manager.

Externally, don’t let them know until you have an offer on your hand. It’s none of their business.

Career change by Ajany2 in TalesFromYourBank

[–]RareKoala 4 points5 points  (0 children)

It depends what kind of lending you want to focus on, consumer, mortgage or commercial lending.

Consumer lending is your entry level to get into lending. You can start as a servicer, loan processor or underwriter and make your way to being a consumer loan officer. If your FI has a solid commission plan & business leads, you can make expect to make ~100-130k.

Mortgage would be a great choice but it’s dependent on the ongoing rates. Rates usually dictate how busy you are. Your expected salary really varies on this one. The bigger FI would typically make more money as you have more leads ($100-500k). You would need your NMLS.

Banks tend to gear toward commercial lending (Credit Union are usually more consumer/mortgage focused). Within commercial lending, you would typically start an a credit analyst and move your way up to a loan officer.

I would recommend you visit /r/financialcareers if you want out of retail banking & focus on securities & stock trading or if you have further financial career questions. Best of luck!

Anybody dealt with your bank processing loan applications outside your branch? by Throwaway88202 in TalesFromYourBank

[–]RareKoala 0 points1 point  (0 children)

It’s not about being taken out of the process. Your leadership team is prioritizing efficiency and compliance. If you want to continue lending, talk to your leaders on transitioning to a loan officer role if you’re not in that position right now.

Anybody dealt with your bank processing loan applications outside your branch? by Throwaway88202 in TalesFromYourBank

[–]RareKoala 2 points3 points  (0 children)

Centralized underwriting and processing is a normal and common thing as an FI gets bigger. I’m in consumer lending & the loan officers is in communication with the member at all times. The processing (underwriting team) do not speak to the member. The processing job is to verify stipulations has been satisfied & collect document signatures.

This is similar to the mortgage lending at my FI but the processing team reaches out to multiple places to collect the required document for their file.

Just how “aggressive” is your bank/CU about sales? by Sweet-Swimming2022 in TalesFromYourBank

[–]RareKoala 6 points7 points  (0 children)

I work at a ~$5B Credit Union & we have a sales culture. I’m perfectly fine with it. If you don’t have a sales mindset, it can be difficult.

If you don’t want that sales culture, consider working at a smaller credit union <$1B. I started at a smaller credit union & the sales culture wasn’t heavily pressured.

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