This document describes an outbound contact strategy from LSI to enhance credit union communication. LSI was established in 2000 and employs trained lending professionals to provide financial counseling, build loans, cross-sell products, and provide excellent member service through various contact opportunities such as welcome calls for new members, auto loan recapture, and credit card promotions. The goals are to address members' financial needs and gain insights to better serve them. LSI representatives attempt to contact each member three times to maximize contact rates. Daily reports provide results including applications, call backs, and member insights. LSI technology like digital call recording and a predictive dialer help shorten project times and reduce costs.

1. Contact Solutions
from LSI
A strategy to enhance
Credit Union communication
History & Overview
 Established in May of 2000
 Dedicated lending professionals that have
extensive training on:
− Financial counseling
− Loan building
− Cross selling
− Setting the table for future needs
− Providing world- class service
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2. Contact Opportunities
 Contact opportunities which include but are not
limited to:
− New member welcome
− Auto recapture
− Home equity and 1st mortgage
st
− Pre approved auto loan follow-up
follow-
− Credit card promotions
− Indirect portfolio retention
− Member education initiatives
Contact Objectives
Our number #1 goal is to set the stage, in a
friendly conversation, to handle any current and
future financial needs while letting the member
know how important they are to the credit
union.
Our number #2 goal is to gain insight on how
the credit union might better serve the member
buy asking an “Insight” question.
Insight”
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3. Sample “Insight” Questions
 What factor is most important to you in a
banking relationship?
 What could we do to earn your deposit
business?
 How would you rank our services?
 When would you consider using the credit union
for additional financial services?
 What would prompt you to choose another
lender over the CU?
Training & Quality
 The representatives receive the following loan
and outbound training.
 Loan Specialist training (3 months)
 Emphasis placed on providing world -class service, loan
consultation, cross selling, etc.
 Outbound program training
 Emphasis placed on providing world-class service,
world-
recognizing opportunities, cross selling, etc.
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4. Call Attempts
 We attempt to reach each member (3) times.
This optimizes our chances of making contact
with each member.
− 10-4pm (day call)
10-
− 4 -8pm (evening call)
− 10-4pm (weekend call)
10-
 We leave a compelling message on the 3rd
attempt to optimize call back opportunities.
Levels of Success
 Our average contact ratio is 55%.
 Our average percentage of
interested contacts is 7.5%.
 These stats will vary based on the
list and product offer.
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5. Auto Recapture Program Example
 # of members 10,000
 Car buyers @ 75% 7,500
 Buyers financing elsewhere @ 80% 6,000
 Average rollover in years 2.7
 Annual opportunity 2,220
 Recaptured loans @ 8% penetration 178
 Loan volume at $15k per unit $2,670,000
 Acquisition cost per loan $107
Daily Project Results
 Secure Excel reports are sent on a daily basis describing
what transpired on each call:
− Completed application
− Reason for non -interest
− Will call back
− Left message
− “ Insight”question responses
− Invalid phone numbers
− No answer
 Communication of any potential issues are included.
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6. Cutting Edge Technology
 As the leading inbound loan contact center, LSI
has a distinct advantage in terms of technology,
flexibility, and IT support.
 Digitally record all of the outbound calls.
 Daily reports submitted electronically.
 Power Dialer Technology which allows LSI to:
− Shorten project times
− Reach more members every hour
− Reduce costs to our clients
− Eliminates predictive dialer hesitation
Where Do We Begin?
 Establish project details
− Create project description and goals
− Analyze past internal outbound projects
− Estimate number of leads
− Determine frequency
− Verify pre-screen criteria, if utilized
pre-
− Establish target dates
− Determine list transfer protocol
− Execute contract
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7. Where Do We Begin?
 Review product details
− Submit implementation checklist
− Train on promotional materials
− Collaborate on and finalize scripting and message
script
− Craft “Insight” question
Insight”
Start Reaching Members!
Critical Success Factors
 The right “ Objective”
“Setting the stage, in a friendly conversation, to
handle any current and future financial needs
while letting the member know how important
they are to the credit union.”
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8. Critical Success Factors
 The right “ Objective”
Objective”
 Representatives trained on the credit union values
 Great scripting support
 A compelling, 3rd call, voice message
 A thought provoking “Insight” question
Insight”
 Cutting edge technology to optimize the process
 24/7 coverage to handle evenings and weekends
The End Result
A member better positioned to utilize the CU
 Data to better serve your membership
 More loan opportunities
 More deposit opportunities
 Improved closing ratios on pre-approvals
 Better penetration on mail campaigns
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9. Client Testimonial
 We use LSI for outbound calling on our pending deposit account
applications. We have them regularly scheduled to make calls
weekly and monthly. LSI is calling as a follow up on our
applications. They call two weeks after the member applied and
again one month after they applied. We find that the calls benefit
us in many ways. They are a great reminder to people to
complete the process of opening their account along with
another opportunity to get any questions they may have
answered. We do believe that the follow up calls have helped
with the pull through from a member applying for an account to
actually opening the account.
 Testimonial provided by Lisa Ball with MWABank.
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10. Let Lending Solutions, Inc. design a customizable
campaign to capture more business, increase revenue
and help you better understand your members!
Please use the Q & A feature in the lower right-hand
right-
corner of your screen or contact:
Jeff Frantz at 800-937-4249
800-937-
Questions?
Thank You!
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