Credit Union Closes More than $2 Million in Loans using Social Media

Oshkosh, WI – (January 12, 2015) Chatter Yak!, the Oshkosh, Wisconsin based CUSO specializing in marketing, social media, website development and branding shares remarkable results a client is experiencing using Yak! Tracker, their premium lead generation application, which allows credit unions to use social media to generate leads and revenue.

Alpena Alcona Area Credit Union (AAACU) has been using Yak! Tracker to generate leads on social media since March of 2015 and has consistently proven valuable ROI. AAACU’s initial reasoning for choosing Chatter Yak! was to grow their fan base, which they have more than done. Since January of ’15, AAACU has grown their presence on Facebook by 26%. Most recently, Alpena Alcona Area Credit Union has proven ROI by generating nearly 200 new loan leads. In 2015, they closed $2.2 million in loans by generating leads through Yak! Tracker contests. LeAnn Schultz, Director of Marketing for Alpena Alcona Area Credit Union said, “Because of Chatter Yak and Yak Tracker, we are now able to grow an engaged community on social media, but more importantly, we’re generating and closing loans that we previously would not have had. In addition, we’re bringing valuable non-interest income to our credit union’s bottom line and helping our members save more money.”

Credit unions are now proving that a strategic approach to social media marketing is more important than ever. Engagement and Likes are great, but being able to turn your Facebook fans and Twitter followers into new members or new loans (via a loan lead generator app) is an even better reason to use social media. Most credit union marketers show their CEO and Board of Directors metrics that are confusing. But CEOs and Directors don’t want to hear about Likes, follower count, or the extent of your reach. Credit unions should measure these things in order to sharpen their social strategies, but don’t count on them impressing C-level executives.

CEOs care about the health of their credit union. The optimal way to prove ROI with social media, while improving the health of your credit union, is to create a process for lead generation and show how those leads are translating to revenue.