EverythingCU.com’s new product, Loan Switch, is finally here!
Loan Switch is a brand new online product that enables your current members to refinance all of their loans that they have with other financial institutions, with you; all at the same time.
There has never before been a product like this, and it is only available to credit unions.
If your CU has the ability to compete on loan rates, promote a loyalty program or has a great loan department ready to re-capture loans; Loan Switch is for you.
• Loan Switch arms your member with the information they need in order to WANT to refinance with your CU
• Makes it ONE CLICK for your members to start the refi with your CU!
We can’t wait for you to demo Loan Switch because we are incredibly excited about its ability to simultaneously save your members money AND bring loans into your CU! The best way to understand why we think Loan Switch is a breakthrough in capturing loans that members have at other institutions is to just demo it yourself so that you can see exactly how it works. Click here to demo Loan Switch now!
Click here to view more information about Loan Switch, including pricing.
Email Matt with any questions or for further information about Loan Switch: matt@everythingcu.com
After you’ve to submit your loan info in the demo, Matt will play loan officer and send you a response. When you receive the response email, be sure to log in to your personal checklist with the username and password supplied. Then you’ll see how easy it is for the member to start the refi with just a mouse click. Once you’ve had a chance to demo it, let us know what you think!
EverythingCU.com is thrilled to announce an innovative new breakthrough in making it easy for your new members to switch their previous accounts over to your CU! Our new eSwitchKit makes switching incredibly easy via secure email and organized with a personalized online checklist that both your member and your credit union can monitor for real-time status updates.
Making the switch to your credit union has never been easier with our new eSwitchKit!
The eSwitchKit makes it easy for your member (or your MSRs to help your members) switch their previous accounts over to your credit union. The member’s information only needs to be entered one time, and the correct information is then sent to each vendor involved in the process, including Employer for Direct Deposit, previous Financial Institution for close account instructions, and for every ACH/Automatic Payment vendor as well as any vendors making automatic withdrawals via Debit Card.
The member is in control every step of the way, being able to decide which of these organizations are to receive account numbers, which organizations are to receive secure email communications, and which organizations are to receive printed and mailed letters.
The most innovative switch kit in the industry brings the member an active, real time checklist with email alerts keeping the process top of mind and organized
The member and credit union can access a Switching Checklist providing an up-to-the-second look at each step of the switch
Member is alerted via email whenever a vendor responds with switching updates
Full admin controls enables you to help your members through any sticking points
SSAE 16 compliance and industry-standard 128-bit encryption
Vendors can send messages back to the member in regards to switch status and details
The eSwitchKit is the latest innovation from the same company that brought you the original Online Switch Kit in 2004 and Premium Online Switch Kit in 2011. More than 100 CUs nationwide employ these Switch Kits that have helped more than 23,000 members switch to their credit union
If you are currently using the Original or Premium Switch Kit and would like to upgrade, please contact me for your prorated upgrade pricing; via email: morriss@everythingcu.com or call me direct at 413-535-0621. For more information about the eSwitchKit or to place an order, visit the eSwitchKit Info/Sales page.
Initial feedback has been positive; feel free to let us know your thoughts and comments about this new concept in helping members make the switch to your CU!
I’m in the process of writing an article for CUES’ CU Management magazine, about KickStart Online Lending Generator and Holy Rosary CU’s results. Editor Lisa Hochgraf had some excellent questions for me which prompted me to do a little bit more research into the universal conclusion that removing barriers and streamlining online forms from the user’s perspective leads to better results and increased sales.
So I thought I would share with you some of the eye-popping research that I discovered (and thus why Carol and Holy Rosary CU are getting wonderful results with KickStart – i.e. 10.49% growth in their loan portfolio over the past 6 months):
In addition to the above research on the importance of streamlining the user/member/customer experience to improve sales, we’ve done some streamlining of our own. One item that proved to ourselves that we get better results when we make things easier online is that when we took the step of pre-filling out our own Online Switch Kit demo for you, dozens and dozens of you tried it out, compared to nearly no one trying it out when it was not pre-filled. It seems simple, but often times the little things can make a BIG difference!
So in our continuing quest to make our own forms and demos even easier to try out, we’ve now also pre-filled out the already-simple KickStart Loan Request form to make it even easier for you to test that for yourself. Kick the tires on KickStart yourself right here: KickStart test site
I’d love to hear your thoughts on this – did you find you got better results when your streamlined your online processes, forms, applications, and navigation? Was there ever a time when making things easier for your members online was a bad thing?
Carole Wight, CEO of Holy Rosary CU in Kansas City, Missouri, recently shared with us an email exchange she had in regards to an inquiry into her use of EverythingCU.com’s KickStart online loan application:
Question:Once they fill out the on-line app, what is the process/member experience from there?
Carole: Usually we are able to match the account number with the online application. We pull some quick loan data and promptly call the member back. Usually we have the information we need to move the loan to closing when we call so we are WAY AHEAD on the process.
Question:How has the process/member experience changed from before the on-line app?
Carole: Before online application, they either didn’t call us because they were at work by the time we were open, or the process dragged on. They would call us initially and we would have to pull their credit and get back to them. All this took time and many times the loan was lost. Either because they never called or we didn’t have the jump we needed to catch the loan.
Question:How has it helped the staff in getting or processing a loan? What % of your loans go thru the on-line app comparative to the traditional process?
Carole: That is a very interesting question. I don’t have a fancy system that captures numbers for me like this. I wish I did and I am getting ready to go there but I am searching for solutions. I would say 10%-20% of our applications come from KickStart. That is just a guess. NOW, if you ask me which of the most have the most successful close rate, I would say that KickStart helps us get closes. My staff like it because they have tons of information when they start to talk to the member. We have more loans because of KickStart.
If you have any questions in regards to KickStart, please feel free to email me at any time!
Yesterday, I had a nice phone call with Susan Herring of Brazos Valley Schools CU in Katy, Texas. Susan is awesome, and had a glowing review of our PlumWall testimonial product, which she has been using ever since we rolled it out.
Here’s a summary of what she told me: Susan said she LOVES PlumWall and thinks it’s worth every penny.
She loves how easy it is for members to put their testimonials up, and that members use PlumWall to give their testimonials even more than the online survey system they use.
She also said that staff really enjoys when they are the ones featured in the system. Whenever a new testimonial comes in featuring a staff member, Susan emails it to everyone in the CU so that that staff member gets their moment in the spotlight of doing excellent things for the member, which naturally encourages everyone else to continue doing their great work for members so that they’ll get their turn in the testimonial spotlight down the road.
We are so thrilled that Susan is loving her PlumWall! Maybe it’s something that will liven up your own online member testimonials!
While the NCUA has not yet released the 4th Quarter 2012 5300-data for all CUs, it is available for many CUs on an individual basis.
We can’t help but be beaming proud of Carole Wight and Holy Rosary CU…. and the terrific results she’s getting with her EverythingCU.com KickStart.
I just checked the 4Q12 5300 report for Holy Rosary, and it’s even better than we thought it’d be! We were hoping they would maintain a 3.9% lending growth rate, and THEY WOUND UP BEATING IT! Lending is up EVEN MORE than the previous quarter! Loans are up by 6.3% in just the past quarter!
The last two quarters combined have seen Holy Rosary’s lending go up by 10.49%! If her loan portfolio continues to grow at that pace, her CU will have seen a TWENTY PERCENT increase in loans for the year! Wow! Never in our wildest imaginations did we think KickStart could have such an immediate impact on a CU’s loan portfolio, but the proof is in the NCUA 5300 numbers.
Here is the latest:
Dec 31, 2010: 4,758,649
Mar 31, 2011: 4,647,966
Jun 30, 2011: 4,623,701
Sep 30, 2011: 4,719,143
Dec 31, 2011: 4,918,250
Mar 31, 2012: 7,623,506 <– Merger with a smaller CU
Jun 30, 2012: 7,607,091
Sep 30, 2012: 7,906,605 <– 1st full qtr w/KickStart
Dec 31, 2012: 8,405,157 <– 2nd full qtr w/KickStart
We here at EverythingCU.com are constantly looking for ways to help credit unions and their members, and we are so proud of our KickStart Online Lending Program and the results that Carole Wight at Holy Rosary CU are getting with it, that we’ve decided to make it even more easy to try it out at your CU. We are so thrilled that day after day, Carole is regularly getting quality loan apps brought right to her team’s email inbox, and we’re amazed that KickStart is largely responsible for the 10.49% increase in their loans over the last two quarters.
Matt came up with a promotion idea that we’ve decided to implement, and it goes like this:
Starting March 1, 2013, and running through March 1, 2014, EverythingCU.com is offering a FREE SIX MONTHS of KickStart for everyone who renews their EverythingCU.com Executive Membership OR for anyone who purchases a new Executive Membership.
Why are we doing this? Because we are seeing Holy Rosary CU get incredible results with the product, and we want every CU to know that this product is a can’t-lose proposition. While we can’t guarantee your loan portfolio will also grow by 10.49% over two quarters like Carol’s has, we think it’s worth a try. Once you develop results with KickStart, we think you’ll be as thrilled to continue it as Carole and Holy Rosary are.
If you’ve been considering getting into online lending, now is the time. If you’re unhappy with how cumbersome your current online lending process is, and think your results could be better with a more member-centric process, then give it a try during this limited-time free period.
As with many promo offers, we have a few disclaimers:
Promo runs from 3/1/2013 to 3/1/2014.
You must contact us that you want to have KickStart implemented for your CU after you order or renew Executive Membership; enrollment in KickStart is not automatic.
After six months; unless you choose to discontinue KickStart, it will renew on an annual basis at the regular price.
Custom programming for further functionality is not included with this offer, however we will match your web site’s look and feel.
EverythingCU.com reserves the right to post your NCUA 5300-report lending portfolio increase and use it as testimonial for the effectiveness of KickStart.
If you’ve been thinking of getting into online lending, this is your chance. To take advantage of this offer, simply order or renew your EverythingCU.com Executive Membership, and then send an email to Matt that you would like to get started with KickStart at no cost for 6 months.
If you’re not looking to implement or improve your online lending right now, but do know of a CU that doesn’t have online lending yet, we’d be grateful if you directed them to this article so they can climb on the KickStart train!
KickStart is EverythingCU’s new online lending product. Carole Wight, President of Holy Rosary Credit Union in Kansas City, MO is using KickStart, and is thrilled with the results.
With the release of the latest 5300 NCUA report through the Third Quarter of 2012, we now have some hard numbers that show Carole’s outstanding loan growth improvement with the help of her new KickStart Lending tool.
Holy Rosary’s Total Loans (Acct 025B in the 5300 report) over the last several quarters looks like this:
Dec 31, 2010: 4,758,649
Mar 31, 2011: 4,647,966
Jun 30, 2011: 4,623,701
Sep 30, 2011: 4,719,143
Dec 31, 2011: 4,918,250
Mar 31, 2012: 7,623,506 <– Merger with a smaller CU
Jun 30, 2012: 7,607,091
Sep 30, 2012: 7,906,605 <– 1st full qtr w/KickStart
So as you can see via the numbers above, aside from their merger, KickStart has helped them see significant growth in the loan portfolio for the first time in quite a while. Besides the 4Q of 11, and the merger in 1Q 12, loan growth has been almost non-existent or even negative. Now armed with KickStart, Carole and her staff are able to serve members who want loans who can’t make it into the branch for whatever reason, or who want to apply for a loan during non-business hours. This most recent quarter represents loan growth of the portfolio by $299,514, which is a 3.94% increase. If that rate of growth continues, the CU will see a $1.2 million increase on a yearly comparison basis, which translates to a 15% increase on a starting loan portfolio of $7.6 million.
You can understand how excited we are for Carole to be having such fantastic success with KickStart, and for her members that are being served even better than they were before. It’s a joy for us to see Carole’s happiness with the service backed up by the proof of the NCUA 5300 report.
Thank you Carole for being such a great KickStart client! We are so thrilled that it’s working excellently for you, your staff, and your members! We are eagerly looking forward to more credit unions adopting KickStart and helping even more members apply for their loans online quickly and easily.
For more information about KickStart, just click here.
Matt and I recently had the pleasure of attending a small credit union conference in Zoar, Ohio, called Making History 2012. It was hosted by CDFI grant writing specialists, CU Strategic Planning led by Jamie Chase and Chuck Cockburn.
One of the reasons we were especially excited to attend was to meet in person one of our favorite clients, Carole Wight, President of Holy Rosary Credit Union in Kansas City, Missouri. Carole was a delight, and the work that she does at her credit union is impressive. Carole also uses KickStart, our online loan generator, and she loves the product. So much so that she wrote the following email to the Director of the Office of Small Credit Unions in Missouri:
Kevin:
I had to write you about EverythingCU.com. I use this site constantly. You can download sample documents, get advice, purchase an online switch kit, watch inexpensive marketing webinars and have an online loan application system.
I soon will use all of their products. My outreach efforts are stronger as a small credit union because of this site. Go to my homepage and look at my online loan application. The beauty is that it is designed so that there is no non-public personal information exchanged with social and account number. It is just simple, but it works. I paid under $500 for the year for this site. My loan volume has increased as a result.
Small credit unions need a tool like this. In my humble opinion, if they don’t see the value, we need to help them see the value. I would be happy to answer any questions you might have or meet with you. This is probably my number 1 tool for marketing information.
Thanks, Kevin. Please feel free to have any interested credit union contact me also.
Carole Wight, President
Holy Rosary Credit Union
Kansas City, MO 64106
We are quite honored to call Carole a friend, as well as a client.
Thank you, Bank of America, for implementing new and uncomfortable fees for your members. That is the impetus behind Bank Transfer Day, which has garnered national media attention for credit unions. This in turn has led to a large surge in inquiries about EverythingCU’s pioneering Online Switch Kit, which helps new members transfer their accounts from a bank to a credit union.
EverythingCU.com World 2.0 Adventure 