NACUSO's "Next Big Idea" competition has been a credit union industry highlight since its inception four years ago. Some pretty cool ideas judged by some pretty significant business people have percolated to the top and set into action for credit unions' use right away. It's a unique contest that brings new ideas to light from which we all can benefit.
This year's winner was a company called Rate Reset, which is a strategic partner of the MD|DC Credit Union Association. Rate Reset's CEO and Co-founder Keith Kelly joined us to share how his company topped six other competitors with its LoanGen for Auto solution -- a web-based automated loan acquisition tool that allows credit unions to acquire existing auto loans from other financial institutions, enabling credit unions to increase their share of the auto loan market. It's Rate Rest for Auto features a speedometer-like display that changes to show how much a monthly auto payment will decrease as the consumer adds to the loan term along a sliding scale.
I saw this technology personally at GAC when the Rate Reset folks dropped by the Studio Lounge for a quick demo. It's pretty cool, I must say. Check it out for yourself and let us know what you think.
Mike Lawson, Host
Married to a beautiful and wonderful wife, raising 5 kiddos (including twins!), enjoy helping others tell their stories, and love surfing SoCal waves. Keep it simple.