Mike London, Delta Community Credit Union

I'm the manager of credit product performance at Delta Community Credit Union in Atlanta, Georgia. I manage the performance of the loan portfolio from a reporting perspective. I do credit risk analytics, help write guidelines, and also product development and marketing.

Challenges

My biggest challenges at the credit union right now usually come from getting to the data. Getting the data out of our core system in a format that’s usable for analytics and then implementing it in a way that yields meaningful results is a big challenge.

Core Solutions

From Experian we’ve implemented the Collection Advantage solution. We’ve used it in our recovery services area to queue our delinquencies and help manage that more efficiently. And then we’ve also implemented an auto loan marketing tool that allows us to target-market to members who have loans with another financial institution so we can try to grow our portfolio.

Experian's Consultative Approach

It’s been a great experience to partner with Experian. Our sales rep is always very knowledgeable. I’m usually the guy who calls up and says, “Hey, I’m working on this… you got anything to help me?” So she’ll go back to the other folks and figure out what’s out there for me and give me a call back. She’s always been very helpful. It’s been a pleasant experience working with Experian.

The Results

The results we’ve gotten from the solutions that we’ve implemented with Experian have been great. The Collections Advantage tool that we’ve implemented has allowed us to go from more of a “dialing for dollars” kind of recovery effort to a more targeted, queuing workflow pipeline, so it’s a much more efficient process. That’s been great. And we’re actually running the Experian Auto Loan Target Marketing campaign right now. We’re getting great results. In our first two weeks of outbound calling, we’ve had about a 5 percent response rate, which is really great for us. A typical direct-mail-only campaign, we get about a 1 percent response rate, so we get about five times that. It’s been a very great campaign.