The $303 million, Alpena, Mich.-based Alpena Alcona Area Credit Union announced it closed $2 million in loans using Yak! Tracker, a social media lead generation application from the Oshkosh, Wis.-based CUSO Chatter Yak!
AAACU adopted Yak! Tracker, which allows credit unions to use social media to generate leads and revenue, in March 2015. As a result, the credit union recently generated nearly 200 new loan leads and, in 2015, closed $2.2 million in loans from Yak! Tracker generated leads.
AAACU said its initial reasoning for choosing Chatter Yak! was to simply to grow its fan base, however.
“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 we previously would not have had,” LeAnn Schultz, director of marketing for AAACU, said. “In addition, we're bringing valuable noninterest income to our credit union's bottom line and helping our members save more money.”
Chatter Yak!, which is designed to assist credit unions with marketing and advertising across traditional and emerging communication channels, pointed out in a press release that engagement and “likes” are great, but being able to turn Facebook fans and Twitter followers into new members or new loans is a better reason to use social media. The CUSO specializes in marketing, social media, website development and branding.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Roy Urrico
Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).
