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Loan Prescreen

What makes our Prescreen different?

MMSS offers a Loan Rate Identifier Prescreen that is designed to support your credit union’s efforts in regaining loans that consumers have with other financial institutions. Unlike other prescreen programs, our Rate Identifier actually allows you to target consumers with a current interest rate higher than your own.

The benefits of our Loan Rate Identifier Program include:

  • Growing loans in today’s economic environment and attracting new members and qualified borrowers.
  • Helping consumers reduce their monthly debt.
  • Recapturing loans from members who are paying a higher rate than your current rate.
  • Obtaining greater market share for future loan financing. Research shows individuals are four times more likely to finance their next loan with the same financial institution that has their current loans.

The Loan Rate Identifier Prescreen can be used to encourage current members to refinance back to the credit union, or to support efforts of community chartered credit unions to grow membership and loans from within the community. The more targeted an effort is to grow loans, the more cost effective the effort will be and a better ROI will be realized. Our program provides the flexibility and customization to truly target only those consumers who are most likely to take advantage of your offer.

Insights

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