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ScottWhiteSavvy

As we have shared before, one of the biggest things that set Sharetec apart are the many highly endorsed integrations and customizations available. Sharetec partners with over 50 vendors to provide services that your credit union can use to provide improved member-facing experiences. Sharetec offers tools and features that members demand and require their financial institution to have.

One of the many important things a credit union focuses on is growing loan applications and funding. One very valuable and useful system is SavvyMoney. Sharetec’s partners and integrates with SavvyMoney, a fin-tech industry innovator and provider of credit score and other related financial solutions for every online and mobile banking platform, providing comprehensive credit score analysis, full credit reporting, monitoring, and personalized offers. SavvyMoney is able to provide all of these solutions in one easy-to-use dashboard with no added fees. The SavvyMoney solution provides users access to money-saving pre-qualified loan offers based on their credit score, at the same time creating real-time targeted marketing lists for credit unions.

To provide an example of SavvyMoney’s success we want to look at Scott & White Employees Credit Union (SWECU), located in Temple, TX. This credit union needed to increase their loan applications and loan funding totals. SWECU implemented SavvyMoney Credit Scoring app, through the Sharetec platform and saw tremendous results. The results included a 13% increase in member enrollment within 6 months, 87 loans booked for over $1.6 Million, and increased engagement in online and mobile banking.

Celeste Kaylor, President/CEO of SWECU comments. “We had a total of 554 members of our 4,376 members enroll in the product. In the first 6 months, we received 115 applications with 87 booked applications totaling $1,681,081.30. We have 9 applications pending for $168,559 and 3 mortgage/home equity loans to close within the next 30 days for $203,500.00. SWECU is very pleased with the product and we have seen great successes! We have implemented marketing tools and promotional offers which have increased our loan application and loan funding totals.”

JB Orecchia, President and CEO of SavvyMoney, said, “We are thrilled that Scott & White Employees Credit Union is seeing great results from our credit score product. Not only are they empowering their members to improve their financial lives through awareness and a better understanding of their credit score but they are also able to grow their relationship with members by highlighting credit union loans that save members’ money. A win-win for the member and the credit union!”

With SavvyMoney, your members will have instant access to their credit score, credit report, personalized money-saving offers, and financial education tips on how to improve their scores. Deborah Resavage, VP of sales for Sharetec, comments, “We couldn’t be more pleased with the successful partnership that we have with SavvyMoney. This partnership provides our customers with best-in-class service and real results!”
 
To read the full case study, click here.