The $303 million, Alpena, Mich.-based Alpena Alcona Area CreditUnion announced it closed $2 million in loans using Yak! Tracker, asocial media lead generation application from the Oshkosh,Wis.-based CUSO Chatter Yak!

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AAACU adopted Yak! Tracker, which allows credit unions to usesocial media to generate leads and revenue, in March 2015. As aresult, the credit union recently generated nearly 200 new loanleads and, in 2015, closed $2.2 million in loans from Yak! Trackergenerated leads.

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AAACU said its initial reasoning for choosing Chatter Yak! wasto simply to grow its fan base, however.

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“Because of Chatter Yak! and Yak! Tracker, we are now able togrow an engaged community on social media, but more importantly, we're generating andclosing loans we previously would not have had,” LeAnn Schultz,director of marketing for AAACU, said. “In addition, we're bringingvaluable noninterest income to our credit union's bottom line andhelping our members save more money.”

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Chatter Yak!, which is designed to assist credit unions withmarketing and advertising across traditional and emergingcommunication channels, pointed out in a press release thatengagement and “likes” are great, but being able to turn Facebookfans and Twitter followers into new members or new loans is abetter reason to use social media. The CUSO specializes inmarketing, social media, website development and branding.

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