Sharetec System, one of the fastest growing core systems offering the technology of simplicity, announces the success of their ACH Explorer tool to help credit unions capture lending opportunities.
Maine Family Federal Credit Union in Lewiston, Maine, presented Sharetec with a challenge: “Please show us where our members are spending their money.” This simple request lead to over $875,000 in auto loans and a new product that will benefit all Sharetec credit unions.
Using Sharetec’s simple-to-use ad hoc reporting tool, the Sharetec team looked at ACH history and member data and was able to identify members who could potentially save money by refinancing their auto loan. The resulting email marketing campaign, also automated through Sharetec’s e-marketing capabilities, resulted in 42 new loans and over $26,000 in increased earnings for Maine Family Federal Credit Union.
With plans to do more promotions in the future Maine Family Head of Lending, Linda Poulin, says that she’ll take that kind of success whenever she can get it, “Not only will Maine Family realize increased earnings but our members are saving money!” Who can argue with that?
To make it even easier the Sharetec team has created an ACH Explorer module. Joe Reis, Regional Manager for Sharetec, said, “ACH Explorer will allow users to simply enter the parameters they want and Sharetec will produce a report and an email or letter that can be sent to the member. In addition, Sharetec will automatically save a copy of the correspondence in the member’s Document Manager for tracking your marketing efforts.”
To read the full success story, “Credit Union Increases Earnings with Sharetec’s ACH Explorer”, click here.