ALPENA, Mich.–Alpena Alcona Area Credit Union said it generated more than 200 new loans using social media.
Those loans amounted to more than $2.2 million, according to Oshkosh, Wis.-based Chatter Yak!, a CUSO that partnered with AAACU for its Yak! Tracker solution.
The CUSO said AAACU has been using Yak! Tracker to generate leads on social media since March of 2015. Initially, the solution was used to build the credit union’s “fan base,” and it has grown its presence on Facebook by 26%. In its most recent effort, however, Alpena Alcona Area Credit Union was able to close the $2.2 million in loans by generating leads through Yak! Tracker contests.
“Because of Chatter Yak and Yak Tracker, we are now able to grow an engaged community on social media, but more importantly, we’re generating and closing loans that we previously would not have had. In addition, we’re bringing valuable non-interest income to our credit union's bottom line and helping our members save more money,” said LeAnn Schultz, director of marketing for Alpena Alcona Area Credit Union.
“Engagement and Likes are great, but being able to turn your Facebook fans and Twitter followers into new members or new loans via a loan lead generator app is an even better reason to use social media,” said Chatter Yak! in a released statement.