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Product Overview - Business - Credit Unions

People Serving People

Your members are the focus of your business. As a successful Credit Union, you work hard to constantly attract new members, strengthen existing member relationships, and above all else, give them direct access to a wide selection of relevant financial services for the best value. Yet, all too often, Credit Unions must manage all this and more with limited resources and technology.

At Equifax we understand the challenges facing Credit Unions, and we’re here to help. Using our vast, diverse data resources, advanced analytics and proprietary technology, we can help you better understand your members, so you can better meet their needs. You’ll be able to confidently extend membership and services to a wider audience of people, including those with little to no credit or those living in low-to-moderate income communities. You can see which members are more likely to accept your offers, and those who are likely in the market for a new car, mortgage or home equity line of credit (HELOC), so you can connect with them before other lenders. You can even detect members who may own small businesses, in order to more effectively cross-sell business services.

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You’ll get the wider perspective and deeper context you need to strengthen the "people serving people" foundation of your business, and intelligently grow your membership.

  • Optimize your face time with members with automated point-of-sale prescreening that enables you to make firm offers of other relevant credit services such as overdraft protection lines of credit or credit cards at account opening
  • Recognize your members as more than a number or credit score by better understanding their financial trajectory, and use that insight to help fuel more personalized decisions
  • Improve the overall member experience with faster approvals by automating time-consuming manual tasks such as employment and income verifications
  • Expand your membership, product offering and portfolios by creating strategic profiles based on detailed insights around income, life stage and lifestyle

At Equifax, we have professionals from the Credit Union and banking sectors with comprehensive market and community knowledge and expertise to help you make the best business decisions and strategies possible. What’s more, work with us and you gain access to our team of specialists who not only understand the financial industry, but they’re also dedicated to helping you simplify and accelerate all areas of the account lifecycle. From new member prospecting and acquisition, to onboarding, origination and relationship management, to risk mitigation and compliance risks, we work with you to find areas that make sense to automate, and new ways to enrich the member experience. At Equifax, we can help you:

  • Focus your internal resources on your core mission instead of manual tasks with automated tools that can help streamline portfolio reviews
  • Stop fraud before it starts by delivering comprehensive, real-time insights about applicants and their devices at account opening—both online and in-person

With Equifax, you get direct access to the vast data, powerful analytics, advanced technology and market expertise you need to better understand and serve your members, and intelligently grow your membership base—all while preserving your valuable operating dollars and internal resources.

 

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