Are There Really Credit Unions That Don't Want To Capture Existing Member's Loans?
First and foremost, CU Lending Edge provides each individual Credit Union participant with the opportunity to capture loans from existing, actual members, directly from the Dealership point of sale! These are not traditional Indirect Loans, but truly Direct, existing member loans. The CU Lending Edge system literally provides each CU lender access and exposure to every application flowing into our system to increase loan funding and production.
We Couldn't Make it Any Easier!
Our CU partners do not pay the traditional individual costs associated with acquiring loan applications required from other software providers or application acquisition programs (no need for dealer reps, or paying per application fees) while achieving a high percentage of automated loan approvals. The entire premise of the program is to allow every Credit Union to participate, building a strong National program. Remember, we want each Credit Union participating in the system to capture their own member loans!
CU LENDING EDGE Major Differences and Advantages for Credit Unions
1. RouteOne and DealerTrack Interface: The Dealer world's premier loan application entry program is integrated into our sophisticated, robust lending decisioning system which connects you as our participating lender(s) with access to over 20,000 dealers nationwide. And you pay no per application fees!
2. Automated MemberMatch: Our Automated engine identifies your members and sends their loan application and credit report data to your criteria within the system for decisioning! This is something completely new and proprietary to the CU Lending Edge operating system.
- Dealers send loan applications directly to the system, not individual Lenders - which levels the playing field assuring that every CU in the system gets their fair share of loan opportunities.
- MemberMatch actually identifies which Credit Union the applicant belongs to and sends the loan application to that specific Credit Union for decisioning.
- MemberMatch works equally well in identifying potential members and automatically sends that member to the Credit Union (a true indirect loan).
3. Automated, Customized Loan Decisioning (with the ability to make Multi-Tiered/Iterative Decisions on each loan): The software utilized by CU Lending Edge is the most highly sophisticated automated lending software in the industry today. In Fact, there's nothing like it. The CULE system allows you to capture only the loans you want, at the price you want. It's really that simple.
- You have the ability to set your rates and structure decisions from over 100 individual credit report and loan application criteria.
- You can create unlimited number of multi-tiered or what we call "Iterative Decisions" within each loan decision
- You'll get the price, terms and conditions you want on every approval, or you won't fund the loan
- You'll never be asked to buy deep or make exceptions
- We've built a unique second chance auction program that allows you to review and manually decision loans that were not automatically approved
4. Back-Office Processing, Quality Control and Anti-Fraud Protection on Every Loan Package:
In addition to the built-in Quality Control attained in the software, CU LENDING EDGE provides 2 levels of back-office packaging and verification services to assure that each loan package funded meets each individual CUs exacting standards! Our promise? You always get exactly what you pay for. If a loan package doesn't completely validate and verify, which means it doesn’t completely fit your decisioning criteria, it simply doesn't fund! You never get a loan you don't want. And we know that fewer exceptions result in a higher performing portfolio. All of our systems are built to detect and minimize fraud from consumers and dealers including ferreting out "packed" and "straw deals", to assure complete verification and validation of every single loan that is funded!
5. No Implementation Costs and Quick Start 30-Day Time Frame:
For a limited time and for our early adopter Credit Unions on the program there are no initial set-up or start-up fees, no per monthly minimums, annual software licensing, or even fees associated with capturing RouteOne and DealerTrack loan submissions. Unlike other programs, you only pay when you earn! There are several product levels and pricing methodologies available, though most CUs opt for the Full or Modified Service, "Per Funded Loan" program. Since we were designed by CU's and for CU's, we are not in the same software and aggregator game as most of the other program providers. You can be up and operating, capturing members and potential members, and funding loans in 30 days or less.
Leveling the Playing Field - Everyone Gets To Be In The Game and Everyone In The Program Benefits!
Our system was designed to work in credit unions of any size and field-of-membership configuration from the smallest to largest Credit Union, and from the most open to the most closed membership. CU LENDING EDGE was designed to work alone, or, in conjunction with existing Indirect lending programs already in place. And the CU lending Edge program can easily be started and maintained in virtually any marketplace or location in the country, from the largest metropolitan area to the smallest and most rural. If there are Dealers(or any retailer that sells a product that requires consumer financing) in the geographic are that you operate in as a Credit Union, the program works! Remember, the system literally identifies and sends existing and potential CU members to the participating credit union where the member belongs! CULE is the only truly fair system in the marketplace today!
Credit Union Opportunities-Bottom Line Summary:
- Who Doesn't Want To Serve More Existing Members? The bottom line for most Credit Unions is often: what will this cost me to get started? The answer is, for a limited time, nothing! With CULE you only pay when a loan is funded. There are no initial start-up costs that require resource allocation decisions, no ongoing maintenance costs for software, and no costs for staffing and management of dealer reps. And there are no fees paid by you on applications received and decisioned. From the standpoint of cost, could we make it any easier? And consider the cost of not serving your members. As one Credit Union CEO I know tries to impart on their staff "If We Don't Serve Our Members Someone Else Will". You decide! Will you capture your members loans or will someone else?
- Don't Forget To Ask The Bottom Line Question: What might I gain? What could be more profitable and better for your bottom line than capturing loans from your existing members that you are now losing to competing CUs and other financial institutions in your area? Capturing just a few existing member loans per month could make a significant difference to your short and long-term bottom line. It's the only program designed from the ground up to capture existing members at the dealer point of sale with built in validation and fraud protection as part of every loan transaction! And for those Credit Unions that want to seriously grow both their organic loans and indirect portfolios, CU LENDING EDGE might be the program that finally and safely achieves those ever elusive loan and membership growth goals from non-members.Let us show you how.
The reality of not participating in CULE is that "The sure way to miss success is to miss the opportunity". If you don't participate we can't send your members to you. It's really that simple. There's nothing to lose by participating and everything to gain! Don't miss the opportunity to serve your members and safely and consistently grow your loan portfolio.
- Immediately begin capturing loan volume from existing members
- Increase overall loan volume based on your specific and custom parameters
- Increase your overall yield on loans by accepting new, potential members
- Produce sophisticated analysis and reports based on your real data
- Individually, yet collaboratively increase lending knowledge and efficiency
• (818) 456-5093 • Wagius@culendingedge.com