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A strategic collaboration between CU Awareness, LLC and Rate Reset will set the two organizations on a path to help expand frictionless lending options for credit union members.
Rate Reset, a CUSO headquartered in Washington, D.C., is a CUNA Strategic Services provider and has created a digital consumer product to provide "frictionless personalized lending options to new and existing members via the credit union's own website."
Officials said they want this new collaboration to help with CUNA's massive "Open Your Eyes" marketing campaign efforts, administered by CU Awareness, LLC.
"We're excited to bring Rate Reset on board as our newest campaign partner. With the strategic consumer reach of the Open Your Eyes to a Credit Union campaign combined with the easy-to-use capability of the Rate Reset platform, credit unions can seamlessly engage with consumers, safely and securely, to fulfill their loan requests. We're thrilled to present an option that delivers the ultimate consideration; credit union relationship actualization," Chris Lorence, Credit Union Awareness Executive Director, said.
According to the announcement, with Rate Reset contributing credit unions will have access to the KNOCK KNOCK platform, the first bilateral lending platform in the Financial Services industry. The platform provides a means for consumers to reset existing loans and open new loans at the click of a button. This button, aptly named The Button, is a consumer-initiated instant prequalification solution with a soft pull on credit reports and an instant decision with loan terms for both members and non-members. Rate Reset already works with credit union clients all around the country, and this partnership is aimed to show many more credit unions the benefits of their product.
"One of the largest misconceptions about credit unions is that people believe they don't qualify for membership. The CU Awareness campaign has been able to break down this barrier. As more people become aware that they qualify for membership they need a tool like The Button to frictionlessly look at their loan offers," Keith Kelly, CEO of Rate Reset, said. "Rate Reset is a CUSO and we are very excited to be a part of this massive credit union awareness movement. We firmly believe in the credit union mission of people helping people."
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
