MANHATTAN BEACH, Calif.–Kinecta FCU here said it has selected CU RateReset's solution. The McLean, Va.-based company said the agreement with CU RateReset provides Kinecta with a simple, easy and attractive digital solution to retain existing auto loans. CU RateReset reported its 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 your 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.
"We are very excited that Kinecta has become a part of the CU RateReset family of credit unions, and their involvement will not only benefit their members and the credit union, but will help the overall industry as credit unions face the challenges of digital transformation," said Joe Brancucci, President of CU RateReset."Kinecta focuses on making things easier for our members while building long term relevant relationships," said Russell McAtee, First Vice President of Consumer Lending, in a statement. "CU RateReset solutions empower our members to make the financial choices that are best for them, and thereby help us realize our vision."