Prime Alliance Debuts Timely Mortgage Marketing Suite
TUKWILA, Wash. -- Prime Alliance Solutions has introduced a new mortgage marketing tool the company said will allow credit unions to increase market share while helping members whose financial welfare could be at risk.
Called Prime Possibilities, the solution is designed to identify members who are shopping for a mortgage, have subprime loans, or are facing financial difficulties from an ARM about to re-set.
One of the first users is $6.7 billion Boeing Employees Credit Union.
"The challenge for BECU, like all credit unions, was identifying the members we could help in a cost-effective and efficient manner," said the CU's chief lending officer, Joe Brancucci.
"With Prime Possibilities we were able to easily drill down to those members we could best serve, and we did it at a 66% cost savings to traditional methods."
The key to savings through the CUSO is pooling member data from collaborating credit unions to create economies of scale usually enjoyed by larger banks.
Additionally, participating credit unions share best practices for direct mail design and message points as well as sales intervention techniques.
Prime Alliance Solutions said it now serves more than 1,600 credit unions, loan officers, real estate agents and builders nationwide, accounting for 40% of all credit union mortgage lending.