White Papers

Market Research to Help Grow Your Institution.

Vehicle Service Contract Programs: Optimize Member Service, Maximize CU Revenue

You know they work. Yet how many auto loans have them? Too few, right? Did you know a leading cause of auto loan defaults is mechanical failure the member couldn’t afford to fix? We’ll review essential steps for success and uncover the “secret” 3rd revenue stream dealers have been using for decades. Combining complete member satisfaction with revenue growth, this white paper will help your credit union make VSC a common part of your auto lending channel.

Free Checking: Still The Right Path For Your Financial Institution?

Your credit union members and bank customers love your free checking. Right? Many do. Others are looking for more value. Even if they pay for it. And if they don’t find it with you, they’re off to emerging fin-techs or other credit unions. Keep members close while generating massive revenues. Learn how in this white paper.

Managing Your Auto Loan Portfolio Risk – 2019 Edition

Is your credit union enjoying record auto lending? If so, you’re not alone. Unfortunately, there could be a cost to that success. Even with conservative underwriting, a significant portion of your credit union’s portfolio may be underwater!

Some things our research discovered:

  • 100% LTV may not actually be 100% LTV
  • GAP claims up over 50% in just one year
  • Depreciation rates on certain classes of cars have doubled

Learn how you can spot these potential issues, prevent losses for your credit union and members, while building new income sources.

Member Acquisition & Auto Loans

Only 20% of your members will ever be profitable.  On average, lifetime income per member is only $140, yet it costs $442 to acquire them! Change the numbers with targeted member acquisition.  But how to reach these desired new members?  Auto lending is often called the “bread and butter” of the credit union industry, with over 17% market penetration.  You can use this area as your “carrot” for encouraging profitable member growth. Follow along with our independent industry surveys and pertinent statistics to learn how your credit union can grow sustainably.

Online Car Buying Service

Where do you start your search for a new car? Of course, on the web. However, only 1 out of 5 people consider how they’ll pay for it early in the process (ie. financing). Which means they don’t start at your credit union’s site. Unless you can provide more value for your members and become an essential part of their 13+ hours (on average) of research and learning. Read how a wide range of credit unions tailored their marketing, strategy, and planning to fit this new reality.

Indirect Borrower Conversion

“Over the next 10 years, credit unions involved with indirect auto lending will miss out on over $5,538,424,000 in potential income.” – Is your institution part of that group?  Or will you take bold steps to on-board those non-engaged members?  This white paper explores the state of affairs for indirect borrowing and presents exclusive insights from a large group of credit union executives facing the same challenges as you.  Learn from the trail-blazers and evaluate strategies to expand (or launch) your own indirect conversion programs.

All white papers developed and published by GreenProfit Solutions, Inc.