DUPONT, Wash.–America's Credit Union are has become the first to launch CU RateReset's newest solution - Digital Pre-Approval Credit Card. The $586-million ACU is expanding its CU RateReset product offerings. In December, 2016 the credit union contracted with the company to license Rate Reset and LoanGEN for Auto.CU RateReset offers additional Pre-Approval products which include:
Digital Pre-Approval - Auto, Mortgage, Personal Loans and Home Equity Line of Credit (HELOC):
- Recapture of member auto loans, mortgages, credit cards, personal loans and HELOCs 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 their credit union.
- Credit union selects members to receive offer and submits data to CURateReset. A unique URL is then created, and inserted into an email, traditional mail or text.
- Members can select the options offered, execute the required documents and authorize the transfer to their new credit union account.
"Our innovative solution allows ACU to send an individualized pre-approval "P"URL (Personal URL) via email, text, social media or traditional mail." said Joe Brancucci, president of CU RateReset. "The member is provided the opportunity to select the options ACU offers, execute the necessary documents, and authorize ACU to do the balance transfer.""Our partnership with MeridianLink allows for a seamless end-to-end process. Upon member selection of the offer, the data flows through to the card processor to update the core system all without human intervention. This is disruptive innovation." added Brancucci."The experience with pre-approval offers is usually less than satisfying," said Kenneth Leonard, President/CEO America's Credit Union. "Since the launch of CU RateReset Credit Card Pre-Approval our acceptance rate has been over 60% of the members that view the offer. This is a significant change from what we have seen in the past. We are delighted to be the first credit union to launch Credit Card Pre-Approval and we are already seeing great results."