Applications Product
Applications – Marketing, Applications – Product, Pull-Through and Approval Rates + Auto Decisions
What are the 4 sub-groups of the Lending Funnel?
This program will reward members when they get their friends and family to get a loan with DFCU. They will both be rewarded if a loan is funded
What is Refer a loan?
Funded loans compared to approved loans
What is Pull Through?
This Lender with the tagline "Lending Uncomplicated" was acquired by Truist Bank
What is LightStream?
In 2019 this auto sweepstakes gave out $100,000 in prize money. This campaign brought in over $1.3M in funded auto loans
What is Paid 4 Sweeps?
In March, we approved $71 million in auto loans but this is the amount that was funded
What is $31 Million?
Arizona ranks 5th nationally in terms of solar usage, this state ranks 1st
What is California?
This little known auto loan program is for members that have completed a 2 year community college program, trade school, nursing program or a 4 year college program.
What is the DFCU Graduate Program?
By decreasing this auto loan term from $20,000 to $15,000 we were able to pick up 34 additional loans in March for $604,000
What is 84 months?
This involves a sharing or selling of ownership interests in a loan between two or more financial institutions
What is a loan participation?
Sometimes offered for a certain amount of time to get members to apply for a loan
What are Promo Rates?
Increasing our pull through on auto refi by this percentage will increase monthly loan volume by $700,000
What is 2%?
This vendor will give us a lending storefront that will improve our members lending shopping experience
What is CU Nexus?
Currently this membership channel brings little to the credit union outside of their loans
What is Indirect?
This is our pull through percentage for 2017+ model years which is higher than the 67% for 2010-2016 model years
What is 78%?