Text messaging shown to be more effective in reaching members about delinquencies

Over the past several months, many credit unions deferred loan payments to help members during the COVID-19 pandemic. As deadlines approach, is your CU prepared to handle a possible influx of delinquencies?

Data proves that text messaging is 40x more effective to engage your members during these unprecedented times compared to phone calls.

Eltrophy provides a secure an TCPA-compliant way for credit unions to handle loss mitigation efficiently and effectively. Additionally, it’s a single solution for all your other text messaging needs – emergency communication, lending, sales, marketing, contact center and disaster recovery teams CUs can also leverage Eltrophy’s Text Messaging platform to boost engagement and enhance member experience.

Success Story: Canvas Credit Union is using Eltrophy to send secure and compliant text messaging in order to communicate more effectively with members as loan repayments come due. Eltrophy has increased the likelihood that members will respond to reminders compared to routine phone calls, making the loss mitigation process more successful and less frustrating for the collections teams.

Canvas’ VP of Collections Shawn Spratte said, “Our members who would never pick up our collections calls opened up their hearts to Text. I continue to be blown away with how effective text messaging is for loss mitigation.”

With proven ROI for several Credit Unions, let us show you why our easy-to-implement Text Messaging platform would be a wise spend. Please email me at ashish@eltrophy.com or call (or text) me at 1(805) 453-8379 to schedule a demo.

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The League of Southeastern Credit Unions & Affiliates represents nearly 300 credit unions throughout Alabama, Florida, and Georgia. It has a combined total of almost $200 billion in assets and 12.4 million members. LSCU provides advocacy, compliance services, education and training, cooperative initiatives, and communications.

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