Credit unions can improve new member acquisition and loan marketing ROI through a partnership between Ser Tech and CUCollaborate.
Ser Tech, the credit union leader in credit data-based marketing, and CUCollaborate, a technology firm that streamlines field of membership hurdles, have joined forces to help credit unions hyper-target marketing to potential members, earning more bang for their buck. By enriching Ser Tech Triggers data, which identifies when consumers are in the market for a loan, with CUCollaborate’s FOM eligibility prequalification technology, credit unions can pinpoint consumers who are eligible for membership when they are actively seeking a loan, eliminating wasted marketing dollars on consumers who are not able to join the credit union or don’t meet underwriting requirements.
“We’re excited to provide this new offering to credit unions, particularly now as budgets are strained and many American consumers are in need. Our objective is to make more consumers aware of the credit union difference, both financially and philosophically,” Ser Tech CEO Shana Richardson said. “Ser Tech is invested in helping credit unions prosper and become the top financial institution of choice for consumers.”
CUCollaborate CEO Sam Brownell pointed out that the combined data is especially useful for complicated fields of membership, such as multiple common bond credit unions with underserved areas, Community Development Financial Institutions and low-income credit unions that must maintain a minimum percentage of members and loans originations in uniquely defined areas or groups can easily use this information to help meet their requirements. “Our two tech firms together can help credit unions reach more eligible members – both by FOM and credit – than ever before,” Brownell said. “We’re excited to see our FOM prequalificationtechnology leveraged in this way to elevate credit unions in the top of consumers’ minds and wallets.