The financial services industry is continuously evolving, and it is essential to optimize collections strategies to maintain liquidity and minimize risk. One of the most critical choices for credit un...
In the everyday hustle and bustle that occurs at your financial institution, it can be easy to wander off the path and lose focus. It happened to Texans Credit Union, but they were ultimately able to regain focus, leading them back to their philosophy to generate sales through service. And focus on what’s important to them--their members!
“We had a change in our philosophy all the way around. These products became important again to us for multiple reasons.”—Matt Moore, Director of Lending for Texans CU
When Texans CU realized that they needed to refocus on their consumer products and the member experience, they had to find a partner that had similar core values to them. They knew that their credit insurance program had the potential to offer their members an invaluable service, potentially alleviating stress should they ever be unable to make their loan payment due to an unexpected illness, injury, loss of job, or even death. SWBC Life insurance Company was that right partner for Texans CU. In addition to the benefits this program brings to their members, Texans CU is also seeing an increase in non-interest income and a decrease in loan write-offs. In fact, the credit insurance products allowed Texans CU to achieve 17.89% non-interest income growth all the while servicing their members with respect, integrity, trust, and empathy.
Related reading: Add Value to Premium Checking with Voluntary Protection Products
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