Democracy Federal Credit Union Latest to Offer CU RateReset Digital Loan Retention Products

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Software CUSO Expands Presence in its Own Backyard

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“Democracy FCU is committed to helping our members meet their financial goals- it’s at the core of our mission. We believe that the ResetAuto product is consistent with our mission." Kathleen Geary, CEO Democracy FCU

CU RateReset, the provider of Financial Product Reset Solutions used for loan acquisition and retention, today announced that Democracy Federal Credit Union has agreed to license its ResetAuto product. Democracy Federal Credit Union, headquartered in Alexandria, VA, has over 16,000 members and $157 million in assets.

“ResetAuto provides Democracy Federal Credit Union a unique market differentiator for its auto loans.” said Joe Brancucci, President of CU RateReset. “Using our digital reset solution, their members are able to reset their interest rate and/or extend their term on an auto loan without the necessity of a refinance. We are pleased to add Democracy to the list of credit unions offering our products and especially pleased to expand our market presence in DC metropolitan area.”

ResetAuto Loan Benefits:

  • CU RateReset enables a member to reset existing loans they have with a credit union without the cost and hassle of refinancing.
  • The credit union selects members for program inclusion based on their internal requirements and CU RateReset automates the     member outreach, reset, and the closing documentation.
  • For the credit union, CU RateReset automates loan retention so loan originators can focus on new business.

“Democracy Federal Credit Union is committed to helping our members meet their financial goals- it’s at the core of our mission,” said Kathleen Geary, CEO of Democracy Federal Credit Union, “we believe that the ResetAuto product is consistent with our mission and we look forward to offering this innovative product to our members.”

About Democracy Federal Credit Union:
Democracy Federal Credit Union Branches serve members in Washington, D.C., Maryland, Virginia, and Pennsylvania. The credit union’s members work for US Government agencies, other major employers, and/or live, work, worship, attend school, or regularly conduct business in the DC Metro area. For more information visit http://www.DemocracyFCU.org.

About CU RateReset:
CU RateReset offers award winning products that allow the member to be in control of what has historically been routine administrative tasks that are time consuming for both front line and support staff. Financial Product Reset Solutions, products successfully tested and adopted in the market, allow a member to reset the term of an existing auto loan, personal loan or mortgage based on credit union criteria. The software promotes loan retention at a very low cost, and provides a member with a favorable view of the member advocacy of the credit union. The Digital Pre-Approval Solutions make it simple and fast for a credit union to acquire or recapture member automobile loans, mortgage loans, personal loans and credit cards. For more information on CU RateReset visit http://www.CURateReset.com.

Media Contacts
Keith Kelly                             
RateReset                        
703.926.8626
kkelly(at)ratereset(dot)com

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