Credit unions need revenues. Members need financial services, and today we’re honing in on vehicle service contracts. Your mission is to build financial empowerment, while achieving those two goals. And where does GreenProfit Solutions feature in this? Great question. We do the research, shared in our Learning Library, to bring…
Why offer VSC? Protect your members, right? By design, a Vehicle Service Contract helps: Protect your borrowers from the cost of unexpected mechanical breakdowns Protect your credit union from delinquencies and repossessions Generate a source of non-interest income for your credit union That’s a nice set of features to promote….
You don’t need me to tell you that Vehicle Service Contracts are complicated. No matter what you call them, VSC, MBP, or Extended Warranty, they provide valuable benefits. And yet, they’re a challenge to offer. Despite that, you know they’re worth the effort, as a policy can: Reduce your member’s…
Digital Transformation. You know, that thing far off in the future…right? Industry experts spent years trying to inspire action. Some listened. Others were slower to act. Of course, “the best time to plant a tree was 20 years ago. The second best time is now.” (That might be a Chinese…
Your Vehicle Service Contract (VSC) program helps reduce auto loan portfolio risk. It also protects borrowers while providing them with peace of mind. Are you marketing it to maximize those outcomes or unknowingly working against your own best efforts? First, let’s get on the same page. What we call a…
