Low retent ntion on of CU U auto loan n pr pre-ap approv ovals - PowerPoint PPT Presentation

Decreas easing ing loan portfo folio io balan ance ce sheet eet Inab abil ilit ity to penetrate e new vehicle cle loan n mark rket et Info form rm members rs of CU financing ncing befo fore they purchase hase a vehicle cle Low retent ntion on of CU U auto loan n pr pre-ap approv ovals ls Capture e additio iona nal auto loan volume ume throug ugh h refina nancing ncing Develo lop deeper er relat atio ions nshi hip with exist isting ing memb mbers ers La Lack k innov ovati ative ve promotio otions ns to encour urage ge viral al mark rketi eting ng Ineffective fective at communica municating ng with members ers through ough social ial media ia

That’s simple . . . pon! cu cuau autocou coupon

$300 0 OFF YOUR BEST PRICE CE (Ne New/P /Pre-Owned wned Vehicle cle Purch chase ase ) Pres esent ent coupon upon at any ny point nt in time e during ng price ce negotiati otiations ons Promot ote CUs exist sting g auto loan n rates es; or or Offer r disc scou ount nt to be appl plied ed against nst exist sting ng CU rates es 10% savi vings ngs on next t servi vice, part rts s or acce cess ssori ories es purchase chase

CU U Contact acts s Member ber To Discus cuss Finance nce Discount count Coupon Member er Options ions/Terms erms Exc xclus usivel vely fo for Complet letes es Form CU Members ers & Prints Coupon on * Loan Promotions * Pre-Appr provals als Member er Redeems eems Member er Ac Acce cepts s CU Coupon on At Finan anci cing ng Prior r To Part rtici icipati ating ng Visiting iting Deal aler er Dealersh lership ip CU Loan Application Page Instantly Presented To Member

CU U Contact acts s Member ber To Discus cuss Refinanc inance Discount count Coupon Member er Options ions/Terms erms Exc xclus usivel vely fo for Complet letes es Form CU Members ers & Prints Coupon on * Loan Promotions * Pre-Appr provals als Member er Redeems eems Member er Ac Acce cepts s Coupon on with h CU Financing ncing Credit it Union CU Loan Application Page Instantly Presented To Member

CU Contac acts s Discount count Coupon Member er Member er To Cross ss-Sell ll Exc xclus usivel vely fo for Complet letes es Form CU Products ucts/Ser /Services vices CU Members ers & Prints Coupon on Member er Saves ves Money Member er Redeems eems CU Builds ds Coupon on At Strong nger er Relati ationship onship Part rtici icipati ating ng Dealers ership hip with h Member er

 Auto o Lo Loan n Perform ormance ance Exist sting: g: does not know w when en a member er is in the e market et to purchase chase a vehicle CUAC: real al-time e acce cess ss to me memb mber ers s in the he ma market et to purch chase ase using ng revers verse ma market eting ng Exist sting: g: minor or relev evancy ancy with th dealers rships ps in new vehicle purc rchase ase market et CUAC: build rel elat ation onsh ships s with th dealers rships ps to enhance ance rel elev evancy ancy & fund more e loans ans Exist sting: g: chal allen enge ged to educat ate e member ers s about ut benefi efits s of auto o loan an refinancin ancing g CUAC: allow ows s CUs to succ cces essfu sfully promot mote e refinan nancin cing g to a vast t amo mount nt of me memb mber ers  Mark rketin ting Exist sting: g: token en giveaw veaway ays s (gas s cards ards) & g & gimmic mmicks s that at are e ineffec ective ve CUAC: subst stanti antial al savi vings gs for member ers s that at are e in-dem eman and & high ghly y effec ective ve Exist sting: g: overuse rused method ods s that at lack ck innov ovat ation on resul sulting g in insuf ufficient ent member er activit tivity CUAC: innov ovative ative reve vers rse e market eting g approac ach that at encour ourage ges s viral al marketin ting g

 Dat ata a Minin ing Exist sting: g: member ers s that at may purchase chase a vehicle cle in the e next t 6-12 2 month ths CUAC: me memb mber ers s that at will purch rchase ase a vehi hicle e in the e next t 30 days ys Exist sting: g: repe petitive ve and overuse rused data a provi ovided ed by by 3 rd rd part rty vendors ors CUAC: real al-time e data provi vided ed direc ectly to the e credi edit union ons s from their eir exist sting g member ers s Exist sting: g: requir uires es a signi gnificant ant amount nt of resourc sources s with th low w succ cces ess s rate e CUAC: limited ed amo mount nt of staff and ma market eting g effort ort with th high gher er succ cces ess s rate  Value lue To CU Membership bership Exist sting: majori ority ty of CU auto o loan an promot otion ons s are e of little tle value e to member ers s CUAC: tangi gibl ble e savin vings gs that at are e extr trem emel ely y valuabl able e and highl ghly sought ght after er Exist sting: g: to rec eceive eive premi emium um pricing ng requir uires s bundling ng of CU product ucts/se servi vices ces CUAC: acquir uiring g coupon pon disc scoun ount t is simple ple and free ee of char arge ge to member er Exist sting: g: contact ct with th member er is prac actica cally y non-exist stent ent after er financin ancing g proc oces ess s is comple pleted ed CUAC: servi vice e coupon pon allow ows s CU to remai ain rel elev evant ant throu ough ghout out the e life e of the e vehicle cle

― More and more consumers are making digital coupons a part of their shopping routine, accessing them across the entire digital domain — including the Web, in social media, with consumer electronics, via their mobile phones, etc. At the same time, brand marketers are increasingly engaging with consumers via digital offers, wanting to influence shoppers throughout their path to purchase.‖ ―With the continuing weakened economy, growing online and mobile access by consumers, an increasingly deals-oriented society and rising food prices, we expect consumers will increasingly look to digital coupons as an effective means to cut costs and save money.‖ source: Steven Boal, CEO of Coupons.com Incorporated; retailsales.com – ―Even After Recession, Shoppers Still Love Coupons‖ (3/22/11)

 Consume mers rs who are decid iding ing which ch deale lersh rship ip to shop at said id price ce (78%) %) and trust (70%) %) were their ir most import rtant nt fa fact ctors. (1) )  In 2012, 92.5 5 million ion consume mers rs used online e coupo pons ns and d code des. That’s 10.6% higher r than n the 83.6 6 millio ion n consume mers rs who had redeemed ed the coupo pons ns and codes es by by the end of 2010. (2)  78.3% 3% of consume mers rs reported ed using g coupo pons ns regularl larly y in 2010, up 14.7% 7% from pre-rece ecession levels ls (2)  Overall all coupo pon redempt ptio ion n grew 3.1%, %, to 3.3 billi lion n dollar ars in 2010. (2)  96.8 millio ion n adult lt Inter ernet net users will ll use online ne coupo pons ns in 2013. (2)  The consum umer er who print nts digit ital al coupo pons ns has an averag age household ld income of $105,000 000, a 26% higher er income level l than n the U.S. averag age. (3) 3) (1) source: TrueCar , Inc. buying behavior study (Feb’11 ) (2) ) source: eMarketer.com (3) ) source: Experian

“ cuautocoupon is an effective loan generating tool. This program saves our members money while providing us with real-time knowledge as to when our members are shopping for a car. This improves the opportunity for us to close more auto loans .” - Bethpage FCU “ We are very pleased with the discount coupon that we are offering our members through cuautocoupon. This gives us a great tangible benefit to offer our 25,000 members. Not only has it brought in new loan business, but it gives us an incentive that we can track on a daily basis.” - Island FCU “ The Internet Coupon Program has been a great benefit to several hundred of our members by allowing them to save money in the car purchase process. It has also benefitted the Credit Union by alerting the lending area to which members are shopping for a car so that we can contact them to get a pre-approval and to assist in additional credit needs.” - Nassau Financial FCU

“The internet coupon program has brought us a good amount of extra customers! Thanks to the credit unions and cuautocoupon!” - Competition Toyota Scion of Middle Island “cuautocoupon is the best marketing value for dealers by far. ” - Herbee Dodge Chrysler Jeep “ The credit union internet coupon has worked wonders for our dealership. We have sold cars to more credit union members because of this promotion as well as the low financing rates and lease specials that the credit union’s offer. We are happy to be part of this program.” - Paul Conte Chevrolet