How to Drive Non-Interest Income From Your Digital Channels

In a challenging low-interest environment, credit unions and banks are eager to find new opportunities to cross-sell non-interest income offerings that add real value to consumers. With the CuneXus digital storefront, these institutions can identify where to integrate non-interest income products for a more streamlined lending operation. As one example, FirstLight Federal Credit Union leveraged the capabilities of the CuneXus digital storefront to generate a 100% campaign-over-campaign increase in Guaranteed Asset Protection (GAP) policy acceptances. The results have been a win/win for both financial institutions and account holders.

Lender Benefits

  • Easily activate new revenue streams
  • Recoup lost non-interest income fees
  • Reduce after-sale effort and expense for staff
  • Increase member loyalty from a value-added product
  • Lower risk of vehicle loan defaults after accidents or unrecovered thefts

Consumer Benefits

  • Reduce or eliminate out-of-pocket expenses in the event of a total vehicle loss or theft
  • Simplify the acceptance of a GAP policy and eliminate the need for follow-up work
  • Remain in good financial standing with their lender and protect their credit rating
  • Gain peace of mind from knowing their loans will be covered in the event of a total loss or theft
  • Enjoy the ability to purchase a new vehicle sooner after an accident

With the CuneXus platform, we can recapture the non-interest income we were losing. It’s a win-win for both the credit union and our members!

– Jaynel Christensen, Vice President of Lending, Commonwealth Credit Union

Learn how financial institutions can use the CuneXus digital storefront to build out new non-interest income offerings.

Download the Case Study