Contact Contact SolutionsSolutions

from LSIfrom LSI

A strategy to enhanceA strategy to enhanceCredit Union communicationCredit Union communication

History & OverviewHistory & Overview

Established in May of 2000Established in May of 2000 Dedicated lending professionals Dedicated lending professionals

that have extensive training on:that have extensive training on:− Financial counselingFinancial counseling− Loan buildingLoan building− Cross sellingCross selling− Setting the table for future needsSetting the table for future needs− Providing world-class serviceProviding world-class service

Contact OpportunitiesContact Opportunities

Contact opportunities which include Contact opportunities which include but are not limited to: but are not limited to: − New member welcomeNew member welcome− Auto recaptureAuto recapture− Pre approved auto loan follow-upPre approved auto loan follow-up− Credit card promotionsCredit card promotions− Indirect portfolio retentionIndirect portfolio retention− Member education initiatives Member education initiatives

Contact ObjectivesContact Objectives

Our number #1 goal is to set the stage, Our number #1 goal is to set the stage, in a friendly conversation, to handle in a friendly conversation, to handle any current and future financial needs any current and future financial needs while letting the member know how while letting the member know how important they are to the credit union.important they are to the credit union.

Our number #2 goal is to gain insight Our number #2 goal is to gain insight on how the credit union might better on how the credit union might better serve the member buy asking an serve the member buy asking an “Insight” question. “Insight” question.

Sample “Insight” Sample “Insight” QuestionsQuestions

What factor is most important to you What factor is most important to you in a banking relationship?in a banking relationship?

What could we do to earn your deposit What could we do to earn your deposit business?business?

How would you rank our services?How would you rank our services? When would you consider using the When would you consider using the

credit union for additional financial credit union for additional financial services?services?

What would prompt you to choose What would prompt you to choose another lender over the CU?another lender over the CU?

Training & QualityTraining & Quality

The representatives receive the The representatives receive the following loan and outbound following loan and outbound training. training. Loan Specialist training (3 months) Loan Specialist training (3 months)

Emphasis placed on providing world-class Emphasis placed on providing world-class service, loan consultation, cross selling, etc.service, loan consultation, cross selling, etc.

Outbound program trainingOutbound program training Emphasis placed on providing world-class Emphasis placed on providing world-class

service, recognizing opportunities, cross service, recognizing opportunities, cross selling, etc. selling, etc.

Call AttemptsCall Attempts

We attempt to reach each member (3) We attempt to reach each member (3) times. This optimizes our chances of times. This optimizes our chances of making contact with each member. making contact with each member. − 10-4pm (day call)10-4pm (day call)− 4-8pm (evening call)4-8pm (evening call)− 10-4pm (weekend call)10-4pm (weekend call)

We leave a compelling message on We leave a compelling message on the 3the 3rdrd attempt to optimize call back attempt to optimize call back opportunities. opportunities.

Levels of SuccessLevels of Success

Our average contact ratio is Our average contact ratio is 55%.55%.

Our average percentage of Our average percentage of interested contacts is 7.5%. interested contacts is 7.5%.

These stats will vary based These stats will vary based on the list and product offer. on the list and product offer.

Auto Recapture Program Auto Recapture Program ExampleExample

# of members# of members 10,00010,000 Car buyers @ 75%Car buyers @ 75% 7,5007,500 Buyers financing elsewhere @ 80%Buyers financing elsewhere @ 80% 6,0006,000 Average rollover in yearsAverage rollover in years 2.72.7 Annual opportunityAnnual opportunity 2,2202,220 Recaptured loans @ 8% penetrationRecaptured loans @ 8% penetration 178178 Loan volume at $15k per unitLoan volume at $15k per unit

$2,670,000$2,670,000 Acquisition cost per loanAcquisition cost per loan $107$107

Daily Project ResultsDaily Project Results

Secure Excel reports are sent on a daily basis Secure Excel reports are sent on a daily basis describing what transpired on each call: describing what transpired on each call: − Completed applicationCompleted application− Reason for non-interestReason for non-interest− Will call backWill call back− Left messageLeft message− ““Insight” question responsesInsight” question responses− Invalid phone numbersInvalid phone numbers− No answer No answer

Communication of any potential issues are Communication of any potential issues are included. included.

Cutting Edge TechnologyCutting Edge Technology As the leading inbound loan contact As the leading inbound loan contact

center, LSI has a distinct advantage in center, LSI has a distinct advantage in terms of technology, flexibility, and IT terms of technology, flexibility, and IT support.support.

Digitally record all of the outbound calls.Digitally record all of the outbound calls. Daily reports submitted electronically.Daily reports submitted electronically. Power Dialer Technology which allows Power Dialer Technology which allows

LSI to: LSI to: − Shorten project timesShorten project times− Reach more members every hourReach more members every hour− Reduce costs to our clientsReduce costs to our clients− Eliminates predictive dialer hesitation Eliminates predictive dialer hesitation

Where Do We Begin? Where Do We Begin?

Establish project detailsEstablish project details− Create project description and goalsCreate project description and goals− Analyze past internal outbound projects Analyze past internal outbound projects − Estimate number of leadsEstimate number of leads− Determine frequency Determine frequency − Verify pre-screen criteria, if utilized Verify pre-screen criteria, if utilized − Establish target datesEstablish target dates− Determine list transfer protocol Determine list transfer protocol − Execute contract Execute contract

Where Do We Begin?Where Do We Begin?

Review product detailsReview product details− Submit implementation checklistSubmit implementation checklist− Train on promotional materialsTrain on promotional materials− Collaborate on and finalize scripting Collaborate on and finalize scripting

and message scriptand message script− Craft “Insight” questionCraft “Insight” question

Start Reaching Start Reaching Members!Members!

Critical Success FactorsCritical Success Factors

The right “Objective”The right “Objective”

““Setting the stage, in a friendly Setting the stage, in a friendly conversation, to handle any current conversation, to handle any current

and future financial needs while and future financial needs while letting the member know how letting the member know how

important they are to the credit important they are to the credit union.”union.”

Critical Success FactorsCritical Success Factors

The right “Objective”The right “Objective” Representatives trained on the credit union Representatives trained on the credit union

valuesvalues Great scripting supportGreat scripting support A compelling, 3A compelling, 3rdrd call, voice message call, voice message A thought provoking “Insight” questionA thought provoking “Insight” question Cutting edge technology to optimize the Cutting edge technology to optimize the

processprocess 24/7 coverage to handle evenings and 24/7 coverage to handle evenings and

weekendsweekends

The End ResultThe End Result

A member better positioned to utilize the A member better positioned to utilize the CUCU

Data to better serve your membership Data to better serve your membership More loan opportunitiesMore loan opportunities More deposit opportunitiesMore deposit opportunities Improved closing ratios on pre-approvalsImproved closing ratios on pre-approvals Better penetration on mail campaignsBetter penetration on mail campaigns

Client TestimonialClient Testimonial We use LSI for outbound calling on our pending We use LSI for outbound calling on our pending

deposit account applications. We have them regularly deposit account applications. We have them regularly scheduled to make calls weekly and monthly. LSI is scheduled to make calls weekly and monthly. LSI is calling as a follow up on our applications. They call calling as a follow up on our applications. They call two weeks after the member applied and again one two weeks after the member applied and again one month after they applied. We find that the calls month after they applied. We find that the calls benefit us in many ways. They are a benefit us in many ways. They are a greatgreat reminder reminder to people to complete the process of opening their to people to complete the process of opening their account along with another opportunity to get any account along with another opportunity to get any questions they may have answered. We do believe questions they may have answered. We do believe that the follow up calls have helped with the pull that the follow up calls have helped with the pull through from a member applying for an account to through from a member applying for an account to actually opening the account.actually opening the account.

Testimonial provided by Lisa Ball with MWABank. Testimonial provided by Lisa Ball with MWABank.

QuestionsQuestions??

Let Lending Solutions, Inc. design a Let Lending Solutions, Inc. design a customizable campaign to capture more customizable campaign to capture more business, increase revenue and help you business, increase revenue and help you

better understand your members! better understand your members!

Please use the Q & A feature in the lower Please use the Q & A feature in the lower right-hand corner of your screen or right-hand corner of your screen or

contact:contact:

Jeff FrantzJeff Frantz at at 800-937-4249800-937-4249

Thank You!Thank You!