McCLEAN, Va.–CU RateReset, the provider of Financial Product Reset, Acquisition and Retention Software, said that Money One Federal Credit Union and Pyramid Federal Credit Union have agreed to license its Reset Auto and Digital Pre-Approval Credit Card, Auto Recapture and Home Equity. The agreements with CU RateReset provide these credit unions with cost effective, simple, easy and attractive digital solutions to retain existing loans, as well as recapture and generate more loans, the company said.
CU RateReset's three primary product programs are:Reset - for Auto, Mortgage, Credit Cards, CDs, and Personal Loans:
- CU RateReset enables a member to reset existing financial products they have with a credit union without the cost and hassle of refinancing.
- Credit union selects members for program inclusion based on their internal requirements and CU RateReset automates the member outreach, reset, and the closing documentation.
- For the credit union, CU RateReset automates loan and CD retention so member Advocates can focus on expanding exisiting and developing new member relationships.
LoanGEN - for Loan Acquisition and Recapture:
- Recapture member mortgages, auto loans, personal loans and credit cards at other financial institutions as well as showcase products to attract new members.
- Members can design their custom auto payment and move their existing loans over to their credit union.
Digital Pre-Approval - for Credit Card, Auto Recapture, Home Equity Loans and new CD's
- Credit union selects members to receive offer, submits data to CU RateReset, a Personal URL ("P"URL) or MEO (Member Exclusive Offer) code is created, and placed into an email, traditional mail, social media or text message.
- Members can select the options offered, execute the required documents, and authorize the balance transfer to their new account.
"Money One and Pyramid are committed to digital transformation in the credit union space and zealous about improving their members' experience" said Joe Brancucci, President, CU RateReset. "We are thrilled that they have become a part of the CU RateReset family of credit unions, and they will join a number of other smaller credit that have differentiated themselves in their markets by utilizing the CU RateReset solutions."