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CU Rise Analytics

Rise with Analytics

Auto Loan Retainer

Turn Car Loan Borrowers Into Profitable, Long-Term Members

With 44% of U.S. adults relying on car loans to finance vehicle purchases, the indirect and direct auto loans they obtain through car dealers provide credit unions with a valuable stream of potential new members. But, because these consumers often pre-pay their loans ahead of schedule, they frequently leave before the credit union realizes their full relationship potential. Better targeting and proactive engagement of these members can have a significant impact on a CU’s bottom-line, through loan extensions, improved new loan offers and cross selling.

CU Rise has developed an automated product that conducts deep, member-level analysis to identify who has the greatest propensity to pre-pay auto loans, and by when. By looking at numerous factors that include current auto loan payment behavior, bureau statistics, deposit account activity, loan origination data and ongoing performance on comparable loans, CU Rise can predict if an auto loan will be pre-paid in the coming 6 months – providing CUs the opportunity to proactively engage those members before they leave.

Those members that are flagged for pre-payment can be analyzed further for the likelihood of applying for another auto loan. CUs can then effectively target these members with new auto loan offers.


Key Features:


  • Identifies likely auto loan pre-payment behavior in the portfolio
  • Runs automatically and learns continuously from new data
  • Provides data in dashboards & tables that are easy to interpret and export
  • Generates cross-sell prospect lists on an ongoing basis
  • Synchronizes custom generated lists with automated marketing platforms

 

Benefits:


  • Proactive member lifecycle management
  • Initiate more effective and impactful engagement with auto loan holders
  • Identify the top candidates for new auto loans, increasing the longevity of                            member relationships
  • Retain members by uncovering their unmet product needs
  • Convert indirect auto loan members to loyal, long-term members