Planning an Effective Auto Loan Recapture Strategy for Your Credit Union

By Preston Packer |

Jun

15

You offer incredible auto loan rates at your credit union, making your institution the perfect spot for members to finance or refinance a vehicle. The competitive rates you offer can certainly help members save money rather than lose it, which is why you should invest in an effective auto loan recapture program. Not only can a recapture strategy benefit your bottom line, but it can also support you in empowering your members to reach their financial goals. However, there are a few options when it comes to achieving success in these areas, including opting to do everything in-house, partnering with a vendor, or paying a vendor to take care of it all. In this article, we'll review how to choose the right approach for your credit union that will benefit you and your valued members.

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4 Practical Ways to Help Members Protect Their Credit Score

By Preston Packer |

Jun

09

Our country continues to face a difficult economic situation. The cost of living is up, supply chain delays persist, and wages are low. For credit unions, it just makes it that much more important to innovate their digital strategy to better serve their members. Below, we've outlined four key credit services that your credit union should be offering.

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Turn Credit Report Insights into Lending Opportunities

By Preston Packer |

Jun

08

Credit unions are always looking for more lending opportunities in order to best serve their members, and their credit report and lending history are both key indicators as to areas your credit union could explore. One area that is key to consider is the auto industry.

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The Credit Union Credit Card Processing Strategy Debate

By Preston Packer |

May

26

The value of offering your credit union members credit cards has never and will never be in question. Credit cards have become a fundamental linchpin in consumer lending strategies for credit unions. However, not all credit card offerings and strategies are created equally. Specifically, the changing credit card industry makes selecting the best sourcing model more important than ever for credit unions.

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Setting Up Small Businesses For Success With Merchant Card Services

By Preston Packer |

May

10

As a credit union, it's imperative that you offer merchant card services to local small businesses. Why? Because credit card payment processing is at the very core of small-scale companies, and of course, one of your credit union's goals should be to help them prosper.

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2022 Is The Year to Get Smarter with Credit Union Cross-Selling

By Preston Packer |

Apr

28

We get it—acquiring new members is vital to the growth of your credit union and virtually any other business. While the importance of new member acquisition is never in question, the cost of these ventures can be exceedingly high. According to a study by market analyst firm Vetter, a credit union's new member acquisition cost (MAC) sits comfortably somewhere between $400 and $700. This is a figure that has been climbing since COVID-19 due to the supersaturation of digital channels.

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Marketing Trends for Credit Unions in 2022 and Beyond

By Preston Packer |

Apr

26

Credit unions encounter a variety of obstacles within the competitive financial landscape of today. As a result, CUs must remain one step ahead of their competition by consistently increasing their membership all while adapting to ever-changing expectations from diverse demographics. In order to contend for their territory in the financial sphere, they must implement intelligent marketing and cross-selling strategies that will appeal to their target audience, especially within the upcoming generation (Gen Z). Here are the latest trends on how to effectively market your products and services that will result in a thriving CU.

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Cross-Selling for Credit Unions: Art or Science?

By Preston Packer |

Apr

20

It's safe to say that the financial landscape has changed substantially over the past decade, requiring better performance for credit unions, from improving member onboarding to embracing digital transformation. Nowadays, it's imperative that CUs engage with their members on a more personal level and present themselves as a one-stop-shop for financial assistance. With this challenge comes a new emphasis on the process of cross-selling, which ultimately helps to acquire a higher level of member loyalty. Here are some valuable insights on what it takes to effectively cross-sell and foster better long-term relationships with your members.

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4 Effective Methods to Cross-Sell at Your Credit Union

By Preston Packer |

Apr

12

The financial sphere is a competitive space for attracting consumers and maintaining a steady influx of revenue. However, the process of cross-selling is a practical way to advance your credit union and offer the best, most personalized services to your members. Cross-selling is a sales technique that is truly one of the most profitable ways to retain credit union members and grow your credit union.

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Onboard, Cross-Sell, & Market With an All-In-One Automation Platform

By Preston Packer |

Apr

06

Successful member onboarding is among the most practical ways to boost credit union growth and must include timely and well-informed decisions. Effective onboarding can significantly benefit credit unions that seek to increase member engagement, cross-sell their services, build brand awareness and trust, and improve retention. Cross-selling and marketing also play crucial roles for CUs, each providing prime opportunities for both members and credit unions. Today, it's possible to onboard, cross-sell, and market simultaneously in a one-stop-shop marketing automation platform designed to fulfill member needs.

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