Loan Saver generates a steady stream of loan leads and will pay for itself many times over in a short period of time, if properly supported with marketing.
Here a few recent success stories:
Fort Knox Federal Credit Union – has used Loan Saver primarily as an in-branch conversation tool to empower loan officers, MSRs and branch staff with calculator, sales and lead capture tools to help them quickly illustrate the power of their superior rates. At the time this story was published, Fort Knox had already captured over $800,000 in new financed loans through Loan Saver. Since then they have well exceeded $1.25M in new loans through the system and counting. See the press release here.
NARFE Premier FCU – Focused on promoting loan saver with inexpensive cost effective marketing promotions, primarily email and banner ad marketing, and was still able to generate a lot of loans with a high ROI. When this story was published, they had over 225% ROI. Since then they have continued to grow, exceeding $657,415 in financed loans and over 315% ROI. See the press release here.
Notre Dame FCU – has had great success in using Loan Saver as part of their "Million Dollar Savings Challenge". This provided an exciting tangible goal to build toward, getting the community and press involved and tracking the running tally of exactly how much money they had saved members to date. Providing a challenge with a potential reward can really help to get members active in evaluating their lending relationships. This has been such a success that our partner MemberTree has partnered with us to provide their Community Challenge and our Loan Saver together in a coordinated campaign. See the press release here.
Congressional Federal Credit Union – launched Loan Saver on the July 4th weekend and has seen great success in a very short time. In only 8 weeks Loan Saver brought in 186 loan leads resulting in over $1,000,000 in approved loans. Loan Saver contibuted to a 16% increase in loan volume over historical numbers and saved members an average of $2,400 on their loans. See the press release here.
Congressional Federal's approach was to use Loan Saver as the core of their "Great Loan Makeover" Sweepstakes. They supported the system with a variety of marketing channels including ongoing email campaigns, direct mail, banner ads, and in the branches, getting the word out to members very effectively and letting them know that they could save hundreds, even thousands of dollars simply by moving their loans to the credit union.
Loan Saver then gave members the opportunity to quickly evaluate how much they could save over a variety of lending products including auto loans, home equity lines of credit, mortgages, personal loans, and credit cards. Then Loan Saver alerted the Congressional Federal lending team about each opportunity in real time, allowing them to follow up very quickly to better understand the members specific lending needs and financial situation and to move their loans to the credit union.
Congressional is now expanding the relationship and integrating Loan Saver even more deeply into their ongoing loan promotions and member tools.
Please contact us today to grow your loans with Loan Saver