What is Rate Reset?
- Technology that Empowers Members to Reset Their Existing Loan Electronically
- Software that Automates Loan Retention
- Protect on Cost and Hassle of Refinancing in the Future
- Feature of a Loan…Not a New Loan
Loan Acquisition, Retention & Reset Technology
- Attract and Retain Members
- Compete More Effectively
- Reduce Runoff/Churn
- Increase Retention & Profitability
Reset Solutions
Reset term or rate, recast adjustable rate mortgage, change credit card terms, balance transfer support and Certificate of Deposit renewal.
Digital Pre-Approval Solutions
Digital solutions to capture member business through pre-approved offers.
LoanGEN Solutions
Digital solutions for the members to compare financial products they have elsewhere with credit union offers and links to the application process.
More information for Reset Solutions…
Reset Auto
- Members reduce their monthly auto payment by extending the term
- Extend auto term to reduce payment
- Lower auto term for quicker payoff
- Extend auto term and take cash out
- Eliminates front line staff from refinancing loans
- Allows members to control the process
- Minimum risk because you are in control of the offer
Reset Mortgage
- Members reduce or modify their monthly mortgage payment by resetting their ARM rate
- Zero back office cost
- No loan officer
- No processor
- No underwriter
- No closing
- No post closing
- Close in only one minute
- Offer member another fixed period on 3/1, 5/1, 7/1, 10/1 ARMs
- Respond to a pre-payment trigger with a special offer
- Ability to actually manage your ARM portfolio
- Eliminates risk on an ARM
- Reduces FASB-91 adjustments
Reset Credit Card
- Allows the member to transact a balance transfer digitally
- Saying “thank you” by offering a line increase
- Offer a student an “adult” credit card
- Engages the member with opportunity to show other products
More information for Pre-Approval Solutions…
Digital Pre-Approval Credit Card
- Offer a member a pre-approved credit card
- Attractive to “Click it” or “Don’t do it” members who will only do transactions online
- Will improve the effectiveness of pre-approval campaigns
- Target member loans at other institutions
Digital Pre-Approval Auto Recapture
Digital Pre-Approval HELOC
- Offer a member a new HELOC
- Offer a member an extension on a maturing HELOC
- Electronically gather income and assets if needed
- Provide member with options
- Execute the e-sign documents
Digital Pre-Approval Personal Loan
- Offer a member a new loan or recapture loan at other institution
- Electronically gather income and assets if needed
- Provide member with options
- Execute the e-sign documents
Digital New CD
- Allow members to pick their own term and interest rate
- Expand member relationship with special Offers
Over 68.7% of members that opened the “P” URL opened a new credit card during ACU’s pilot roll-out (April, 2017)
More information for LoanGEN Solutions…
LoanGen
- Recapture member loans
- Members reduce their monthly auto and mortgage payments and move their loan from their current financial institution to yours
- Demonstrates the credit union difference
How CU RateReset solutions work:
- Credit Union identifies the member or members who will be provided an offer to reset a loan, receive a digital pre-approval, or get a special offer from the credit union
- The member information is transmitted by the credit union to CU RateReset which converts data into an individual personal URL (PURL) and a MEO (Member Exclusive Offer) code
- The PURL or MEO code is embedded in traditional mail, email, secure email, text message or social media by the credit union– depending on how the credit union communicates with its members
- The member clicks on the encrypted PURL or goes to the credit union website and enters the MEO Code, and and enters into a personalized digital experience where they are offered choices and can close the entire transaction in minutes on their own
- Completed forms and selections are transmitted to the credit union and either a fully integrated update of the member file is completed digitally, or the credit union staff manually update the information – credit union choice.
Why Join?
Digital transformation is occurring at a rapid pace within the financial services market, and credit unions are not immune from the demands of consumers created by the digital solution experience introduced to them through media advertising and social media support.
Joining the CU RateReset family of credit unions provides credit unions with proven, award winning digital solutions to reset, retain, recapture and originate mortgage and consumer loans. Our credit unions are committed to enhancing the credit union difference, and evolving digital solutions to assure relevance in the marketplace.
CU RateReset has tools that are easy to deploy solutions that make a difference, and a credit union can accelerate their digital transformation at an affordable cost, with profound results.
Testimonials
Keep up the great work for we know at ACU, your business model most likely will be the life line to our business survival!
– Ken Leonard, CEO at ACU
Rate Reset is a leader in automated retention and acquisition software with innovative technology for financial institutions. PenFed Credit Union has been partnering with Rate Reset since 2013, with their software residing on our platform. Rate Reset’s technology provides our members with such a streamlined process, in some cases members can modify their loans with terms they choose as quickly as 60 seconds.
– James Schenck, President and CEO, PenFed Credit Union $20 billion assets
Credit Unions that aren’t embracing omni-channel solutions and beginning the digital transformation may lose member relevance. CU RateReset provides us with award-winning digital solutions that we believe will help redefine the member loan experience. At Patelco, we are committed to providing our members with transparency, simplicity and trustworthy products, and the CU RateReset solutions we deploy will help us reach that goal.
– Erin Mendez, president and chief executive officer at Patelco Credit Union
Spark Newsletter
About April 2017 Issue
About June 2017 Issue
About October 2017 Issue
About January 2018 Issue
About August 2018 Issue
About September 2018 Issue
News Releases
2019
2018
- myCUmortgage Partners with CU RateReset to Offer Award Winning Products – 11/20/2018
- American United FCU and Finex Credit Union to Offer CU RateReset Products – 07/10/2018
- Arbor Financial Credit Union Joins the CU RateReset Family of Credit Unions – 06/27/2018
- CU RateReset Throws Knockout Punch with Introduction of KNOCK KNOCK – 05/03/2018
- CU Ratereset Wins NACUSO Next Big Idea Contest for the Second Time – 04/23/2018
- CU RateReset Introduces Knocknock to the Credit Union Industry – 03/29/2018
- PenFed Achieves $1 Billion in Mortgage Rate Resets – 01/31/2018
- Sound Credit Union to Offer CURateReset Products – 01/25/2018
2017
- Kinecta Federal Credit Union to Offer CU RateReset Products – 11/13/2017
- Alliant Credit Union to Offer CURateReset Products – 08/22/2017
- Patelco Credit Union to Offer CURateReset Products – 07/18/2017
- Bank-Fund Staff Federal Credit Union Launches Reset Mortgage Product – 07/06/2017
- RBFCU First Texas Credit Union to Offer CURateReset Products – 03/29/2017
- Red Rocks Credit Union Leverages Core Processor to Deliver CURateReset Product to Members – 01/25/2017
- Financial Partners Credit Union First California Credit Union to Offer CURateReset Products – 01/19/2017
2016
- Rate Reset & LoanStreet Partner to Provide Liquidity for Rate Reset Loans – 5/19/2016
- Great River Federal Credit Union Joins the Rate Reset Network – 5/12/2016
- UniWyo Federal Credit Union Joins the Rate Reset Network – 4/6/2016
- BCU to Join the Rate Reset Network – 3/31/2016
- Rate Reset Partners with CUProdigy to Deliver Core Processing Solution – 3/22/2016
- Rate Reset Products Coming to the West Coast – 2/9/2016
- Market USA First to Offer LoanGEN™ Product for Personal Loans and Credit Cards – 2/2/2016
- Rate Reset Partners with OnApproach to Bring Loan Acquisition and Retention Software to Ideal Credit Union – 12/3/2015
Accolades
Only Company to Receive Straight A’s
Tech All-Star
Top 10 Tech Companies to Watch
TECH 100 Most Innovative Housing Technology Companies
Winner, 2016 and 2018 Next Big Idea Award