The $690 million Congressional Federal Credit Union said itgenerated just more than $1 million in new loans from 186 leads itcollected using a Web tool from a Gaithersburg, Md., specialist inmember-facing software for credit unions.
|The loans were generated in the eight weeks the 44,000-memberDistrict of Columbia credit union ran its Great Loan Makeovercampaign using the online load lead generator system from CodeGreen LLC, the company and credit union said.
|The Loan Saver system sits on the website and allows members toinstantly calculate how much they'd save by consolidating andtransferring all their credit cards and other loans from otherlenders. The system also alerts the credit union's lending team forfollowup.
|The Great Loan Makeover campaign used Loan Saver as the hub fora variety of marketing channels including branchcommunications, online publications, direct mail, e-mail and ATMmessaging.
|“Our members found it easy to use and it increased our loanvolume by 16% compared to the same period last year. Just asimportant, members have reported an estimated average savingsof $2,400 over the life of their loans by switchingto Congressional Federal,” said Sharmaine Bucknor, the creditunion's director of marketing.
|Code Green provides ATM and branch locator software and othermarketing and data tech products to approximately 200 creditunions, including 25 contracted to use the Loan Saver solution,said its CEO and founder, Jason Green.
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