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.