Equifax Sales Agent
Credit Unions and Live Checks: An innovative application of a traditional marketing tool
Live Checks: A virtual interview with Dawn Graeter, CEO of Southern Security Federal Credit Union
Averaging more than 80% loan-to-share nationwide, Credit Unions have critical mass in consumer lending and are poised to eclipse $1 trillion in loans.
But where’s the margin?
At an average 0.90% ROA, most Credit Unions are asking themselves how to build their members’ equity in efficient and safe ways. Confluent Strategies and Southern Security Federal Credit Union found a new use for a traditional marketing technique, and we’d like to share it with you in the video below.
If you have been a lender for any length of time, you know that personal (unsecured) lending is an elegant blend of art and science. Personal loans can present an opportunity for a net interest margin boost, but can also become a dangerous proposition for a lender who is not adequately prepared to evaluate all angles of a borrower’s history.
In our brief conversation with Dawn Graeter of Southern Security Federal Credit Union ($204m assets, Collierville TN), we will explore how SSFCU’s philosophy toward consumer lending and their need for deeper share of member wallet led to an innovative application of a traditional consumer finance marketing tool.
You will learn:
- Reasons to consider an unsecured loan prospecting campaign
- How a Live Checks prescreen from Equifax is set up
- What results to expect from a Live Checks campaign
If you have questions or would like more information about Live Checks, reach out to us and we’ll put this innovative solution to work for you and your members.