The Lender*VP team at CU*Answers, the 100% credit union-owned cooperative CUSO, has responded to the requests of their clients and are now offering recurring credit score soft pulls. Lender*VP has partnered with Columbus, Ohio based CBCInnovis to create a seamless process for their clients.  Negotiations are underway with other major credit bureaus to satisfy the various geographic markets CU*Answers serves.  Unlike past one time campaigns; this new program is designed to be run indefinitely with no effort on the part of the credit union staff.  Credit unions are able to choose the parameters and schedule; Lender*VP takes it from there.

What are the benefits to soft pulls?  This tool gives lenders the most up to date information on their members. It allows the ability to drill down to an expertly targeted market.  Soft pulls can aid in loan growth without adding risk and simultaneously removing wasted efforts.  Taking an alternative view, it can also give lenders advanced warnings of members with financial troubles when a downward trend is noticed.

“The soft credit score pull helped our staff by providing a score to determine what products our members would most benefit from. It gave staff a tool to show members what they were paying and how much they would save by switching to a product with us” said Vickie Schmitzer, CEO, Frankenmuth Credit Union

If you would like more information regarding this service or have questions, please contact the Lender*VP team at CU*Answers today