Carolina Collegiate FCU launches new Facebook loan app
Wednesday, September 11, 2013
COLUMBIA, SC (9/11/13) – Carolina
Collegiate Federal Credit Union is the first credit union in South Carolina
to adopt Calcubot, a powerful Facebook application to fully engage with
potential loan applicants via Facebook. Calcubot’s consultative approach walks
members and prospective loan customers through an interactive buying process
tailored to the credit union's loan products. The application is provided by
Berkeley California-based fintech company Shastic.
"This new app will allow our members to input different
scenarios into the Facebook-based loan calculator app to preview payment
options and different loan options that best fit their needs" said Anne
Shivers, CEO of Carolina Collegiate FCU. "If members like what they see,
they can apply for a loan directly from this new Facebook app, cutting out the
need to even click back to our website" Shivers said.
Calcubot allows members to save loan estimates on Carolina Collegiate FCU’s
Facebook page and solicit feedback from friends, family and advisors. To
create long-term engagement with members, Calcubot provides an ‘Alert Me’
feature that monitors interest rate changes and notifies the member of savings
opportunities. The social aspect of Calcubot Cloud lies in its ability to be
shared with the end-user’s Facebook friends with the click of a ‘Like’ button,
creating viral brand awareness for the credit union. According to Shastic,
83.6% of users of this new app complete an estimate and that 17.6% of those
then go on to click the "Apply” button.
"Being a financial institution that serves the students
of the University of South Carolina, we are always looking for cutting-edge
ways to make our services easier to use and meet our members where they are,"
Shivers said. "This is an opportunity to take our Facebook page from a
place for us to connect with our members on a personal level, and assist them
with their loan options as well."
Carolina Collegiate is one of just over fifty
credit unions that have signed up for this application.