Equifax Sales Agent
What is a live check, and how can it benefit your credit union?
It pays to write live checks.
What is a live check?
A live check is a real, negotiable check for a set loan amount sent to predefined member segments via direct mail.
How does it work?
How often should live checks go out?
You decide the frequency—monthly, quarterly, annually. When sent regularly, live checks are more likely to hit mailboxes at the right time (e.g., when members have incurred unexpected expenses, have decided to make home improvements, are planning a vacation, etc.).
What’s in it for you and your credit union?
Other companies are already sending live checks to your members, so if you’re not doing the same, you’re missing out. Plus, your rates are likely lower than those offered by other financial institutions, so why not help your members get the best deal on a loan?
Live check campaigns don’t have to be risky. Start with low-risk members—those who are currently employed and/or have credit scores of 620+.
You set the terms; you win the business.