Give us a call or send us a message to learn more or get started with Loan Prescreens.
Loan Prescreen
Grow Members and Loans with the best prescreen on the planet!
- Help consumers reduce their monthly debt
- Target only those who are paying a higher loan rate at other financial institutions
- Prescreen current members and/or the surrounding community
- Utilized tri-bureau prescreening credit union solution
How it works
Tell us who you want to target, either members or people in the community by using the following radius options:
- Zip Codes
- Geographic radius of brand locations
- Census Track
Next, we build in your underwriting criteria to exclude people you don’t want to include, such as:
- People with less than 1 year to pay on their loan
- No bankruptcies
- No repossessions
- No pending charge-offs
- No unpaid judgements or liens
What We Need
Your minimum acceptable credit score for loans and your lowest rate* (when risk based pricing is involved, the credit score and rate for each range).
Each qualifying record is sent a conditional offer of credit emphazising the credit union’s lower rate. Any additional incentive offer is also encourage.
FCRA Compliance
MMSS will assist in making sure your program follows all aspects of the Fair Credit Reporting Act.
- The prescreen offer is a promotional inquiry and does not impact the consumer’s credit score
- The prescreen offer is a conditional offer meaning the final decision to approve or deny credit is actually made upon receipt of an individual’s request for credit
Research shows individuals are four times more likely to finance their ‘next’ loan with the same financial institution
It’s Affordable
The investment for the prescreen* process is only $1,800, much less than what you would pay with the credit bureaus. (*Cost for up to 5,000 records. Additional records at $0.40 each)
