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Recapture Loans You Might Have Missed This Summer

With CUNA Mutual Group’s Loan Generation Marketing program, you can identify your credit union’s best loan opportunities and connect with those members by sending the right message at the right time. Designed to both recapture loans and acquire new ones, these turnkey direct marketing campaigns target only prospects most likely to borrow, based on member data and prescreening.

"Our auto refinance program through Ser Technology is going very well," said Michael O'Brien, senior vice president & chief Advocacy officer. "It’s a great way to recapture our members’ business. Although we’ve been participating in the program for several years, we really stepped up our commitment over the past 12-18 months. As a result, we average between $175,000 and $200,000 in refis per month. In addition to the mailings, we have a dedicated employee follow up with phone calls to all members on the list. This has proven to be a major reason for our success."

With 91 percent of consumer credit being extended outside of credit unions today, this is an opportunity to reach out to the right members at the right time and improve your chances of getting their loan. Developed in partnership with Ser Technology, the Loan Generation Marketing program is an effective way to help credit unions deliver exceptional growth in loan volume, interest income and payment protection sales. In the past five years, this Loan Generation Marketing program generated over $2.75 billion in total value of booked loans for credit unions.

The Loan Generation Marketing program tells you which members are qualified for specific types of loans—and therefore most likely to respond to the offer. Data and prescreening increases the chance of bringing in loans with strong balances, competitive rates and quality credit scores.

Loans generated through the Loan Generation Marketing program are quality loans and on average feature:

  • 8-10% of all booked loans
  • Balances of $19,000
  • Interest rates of 4.28%
  • Credit scores of 744

Loan Generation Marketing Campaigns include:

Auto

  • Auto Loan Recapture
  • Next Car Purchase
  • Universal Auto (Recapture and Next Car Purchase)

Mortgage

  • Mortgage Recapture
  • First-Time Home Buyer
Home

  • Home Equity Recapture
  • Home Equity Acquisition
Credit Cards

  • Credit Card Recapture
  • Credit Card Acquisition
Personal Loans  

For more information on Ser Technology and the Loan Generation Marketing program, contact your MCUA field representative.