“Lending Tree”- Creating Loan Volume
GECU: El Paso, Texas (TX51)
GECU (TX51)
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Member-owned not-for-profit financial cooperative (aka: Credit Union)
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Located in El Paso, Texas
• Chartered on August 30, 1932 under the name of Federal Employees Credit Union of El Paso
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Federal (Civil Service) employees
1967: added family member of Civil Service employees
1997: expanded to anyone living or working in El Paso County that is not eligible for membership at another credit union through occupation
2005: expanded into the state of New Mexico –within 25 mile radius of a branch located close to the Texas/New Mexico border
May, 1933 became Government Employees Credit Union
January 1973 name change to Government Employees Credit Union of El Paso
October 2005 name change to GECU and adopted “Greater Employees Credit Union” as a marketing tagline
– In hopes of better describing our field of membership
303,728 Members (March 2013)
679 employees (March 2013)
$2 Billion + in assets (February 2013: 2,000,421,000.00 Two Billion 421 Thousand)
“Lending Tree”- Creating Loan Volume
GECU: El Paso, Texas (TX51)
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Creating Loan Volume
Recapture (Call Center)
Credit Bureau Data Mining
Dealer Track
Pre-approval for Auto Loans
Recruit Select Auto Vendors
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AKA: Car lots!
“Lending Tree”- Creating Loan Volume
GECU: El Paso, Texas (TX51)
Credit Bureau Data Mining
Review bureau for opportunities to “SELL” to our members
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Cross sell MasterCard product with every loan approval
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Platinum
Family Account Platinum MasterCard
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Refinance existing Auto loans
Capture Mortgage loans
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Referral to Mortgage department
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Allows a cardholder to designate cards for other family members
Spending limits that they (cardholder) control to charge purchases and obtain cash advances with a low interest credit card.
Contacts members to set appointment
Pre-Approval for Auto loans
“Lending Tree”- Creating Loan Volume
GECU: El Paso, Texas (TX51)
Pre-approval on Auto Loans
– Pre-approval certificate
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Issued to member
Dealer has auto approval to contract
Issued in highest $ amount they can afford or the amount they request
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All requirements on certificate
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Via the LOS qualification process
Trade-In
Proof of Income
Loan to Value
(plus a few more)
Take to any dealership (in or out of town)
In town dealership: simply sign the contract and dealer sends to GECU for funding
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No Dealer Track input and no wait time for decisions
“Lending Tree”- Creating Loan Volume
GECU: El Paso, Texas (TX51)
Recruit SELECT auto vendors
• Research performed on the Auto vendor
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In business for set time period
Show stability
Good inventory
Reputation (GOOD) in tact
• GECU pays the dealership a visit
– Offer GECU financing
– Setup retail relationship
“Lending Tree”- Creating Loan Volume
GECU: El Paso, Texas (TX51)
Recapture
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Referred to as “Outbound Recapture”
Located in our Call Center
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Receive monthly list from Texas Credit Union League
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Dedicated employees
Based off of Texas title filings
Send letters
Outbound calling for possible immediate recapture
Indirect relationships for Credit Cards, other loans
In-house Approved, Not Funded loans via the Indirect channel (report from In-house LOS)
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Dealer sent them elsewhere
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We may be able to offer lower rate
New Member Onboarding
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Contact new members who have minimal relationships in attempt to build a stronger relationship
“Lending Tree”- Creating Loan Volume
GECU: El Paso, Texas (TX51)
Dealer Track
– Software utilized to receive Loan applications from Retail sources
• Auto Dealerships
• Recreational Vehicle dealerships
• Home Improvement
– Refrigeration Units
– Window installation
– Interface with several Loan Origination Systems (LOS)
• GECU utilizes APPRO
– Dealer submits application
• GECU decisions application
– Dealer able to view GECU decision and contracts with member
• Hasle free for member
• Cost effective for GECU
– GECU pays for the applications, free to dealerships
“Lending Tree”- Creating Loan Volume
GECU: El Paso, Texas (TX51)
GECU’s Challenges
THANK YOU
Shelly D. Clark
Business Analyst | GECU
Project Management Office
O (915) 774-4721
C (915) 637-4894
Toll Free: 1-800-772-4328 ext. 4721