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“Lending Tree”- Creating Loan Volume GECU: El Paso, Texas (TX51)

“Lending Tree”- Creating Loan Volume GECU: El Paso, Texas (TX51). GECU (TX51) Member-owned not-for-profit financial cooperative (aka: Credit Union) Located in El Paso, Texas Chartered on August 30, 1932 under the name of Federal Employees Credit Union of El Paso

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“Lending Tree”- Creating Loan Volume GECU: El Paso, Texas (TX51)

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  1. “Lending Tree”- Creating Loan Volume GECU: El Paso, Texas (TX51) GECU (TX51) • Member-owned not-for-profit financial cooperative (aka: Credit Union) • Located in El Paso, Texas • Chartered on August 30, 1932 under the name of Federal Employees Credit Union of El Paso • Federal (Civil Service) employees • 1967: added family member of Civil Service employees • 1997: expanded to anyone living or working in El Paso County that is not eligible for membership at another credit union through occupation • 2005: expanded into the state of New Mexico –within 25 mile radius of a branch located close to the Texas/New Mexico border • May, 1933 became Government Employees Credit Union • January 1973 name change to Government Employees Credit Union of El Paso • October 2005 name change to GECU and adopted “Greater Employees Credit Union” as a marketing tagline • In hopes of better describing our field of membership • 303,728 Members (March 2013) • 679 employees (March 2013) • $2 Billion + in assets (February 2013: 2,000,421,000.00 Two Billion 421 Thousand)

  2. “Lending Tree”- Creating Loan Volume GECU: El Paso, Texas (TX51) Creating Loan Volume • Recapture (Call Center) • Credit Bureau Data Mining • Dealer Track • Pre-approval for Auto Loans • Recruit Select Auto Vendors • AKA: Car lots!

  3. “Lending Tree”- Creating Loan Volume GECU: El Paso, Texas (TX51) Credit Bureau Data Mining Review bureau for opportunities to “SELL” to our members • Cross sell MasterCard product with every loan approval • Platinum • Family Account Platinum MasterCard • Allows a cardholder to designate cards for other family members • Spending limits that they (cardholder) control to charge purchases and obtain cash advances with a low interest credit card. • Refinance existing Auto loans • Capture Mortgage loans • Referral to Mortgage department • Contacts members to set appointment • Pre-Approval for Auto loans

  4. “Lending Tree”- Creating Loan Volume GECU: El Paso, Texas (TX51) Pre-approval on Auto Loans • Pre-approval certificate • Issued to member • Dealer has auto approval to contract • Issued in highest $ amount they can afford or the amount they request • Via the LOS qualification process • All requirements on certificate • Trade-In • Proof of Income • Loan to Value • (plus a few more) • Take to any dealership (in or out of town) • In town dealership: simply sign the contract and dealer sends to GECU for funding • No Dealer Track input and no wait time for decisions

  5. “Lending Tree”- Creating Loan Volume GECU: El Paso, Texas (TX51) Recruit SELECT auto vendors • Research performed on the Auto vendor • In business for set time period • Show stability • Good inventory • Reputation (GOOD) in tact • GECU pays the dealership a visit • Offer GECU financing • Setup retail relationship

  6. “Lending Tree”- Creating Loan Volume GECU: El Paso, Texas (TX51) Recapture • Referred to as “Outbound Recapture” • Located in our Call Center • Dedicated employees • Receive monthly list from Texas Credit Union League • Based off of Texas title filings • Send letters • Outbound calling for possible immediate recapture • Indirect relationships for Credit Cards, other loans • In-house Approved, Not Funded loans via the Indirect channel (report from In-house LOS) • Dealer sent them elsewhere • We may be able to offer lower rate • New Member Onboarding • Contact new members who have minimal relationships in attempt to build a stronger relationship

  7. “Lending Tree”- Creating Loan Volume GECU: El Paso, Texas (TX51) Dealer Track • Software utilized to receive Loan applications from Retail sources • Auto Dealerships • Recreational Vehicle dealerships • Home Improvement • Refrigeration Units • Window installation • Interface with several Loan Origination Systems (LOS) • GECU utilizes APPRO • Dealer submits application • GECU decisions application • Dealer able to view GECU decision and contracts with member • Hasle free for member • Cost effective for GECU • GECU pays for the applications, free to dealerships

  8. “Lending Tree”- Creating Loan Volume GECU: El Paso, Texas (TX51) GECU’s Challenges

  9. THANK YOU Shelly D. Clark Business Analyst | GECU Project Management Office O (915) 774-4721 C (915) 637-4894 Toll Free: 1-800-772-4328 ext. 4721

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