OSHKOSH, Wis.–Chatter Yak! announced that through September 2016 the $766-million credit union closed more than $3.2 million in loans via social media, surpassing last year’s numbers with a quarter of the year remaining. According to Chatter Yak!, Verve’s success has already netted the CU $39,531 in non-interest income in addition to the loans themselves. The breakdown of Verve’s total loans include 209 auto loans, 48 new credit cards with balance transfers and seven mortgages/HELOCs, the CUSO reported.
Separately, the $700-million Honor CU used Yak Tracker to close more than $500,000 during August alone, Chatter Yak! reported.
“We’re always extremely happy when we learn of the successes of our credit union partners,” remarked Bryce Roth, president and Co-founder of Chatter Yak!. “When credit unions can save their members money and keep the financial engine of their organization churning at a healthy clip, it’s a win for both of us,” he concluded.