Friday, April 29, 2011

Called for Referral Part 1

One of our customers (they are the BEST!) wrote us the following:

Thought you guys would like to see the questions that one of the Credit Unions asked us when they called for a referral about DDI. I answered them and saved them in word format so that this may be a reference tool you could use.

Here are the first of the 10 questions and how she answered them:

1. What has the program done to bring value to the staff and members?
The Electronic Lien Program has brought value to our staff by reducing the amount of time required to complete the paperwork needed to establish a lien. Corrections can be made much quicker and lien perfection time has been cut from 4-6 weeks to 2-3 days upon the DMV receiving the paperwork. We were able to eliminate a position and combine two jobs into one, thus saving the Credit Union money. Less time is needed for filing and there is less opportunity for errors to be made. The Electronic Lien Program has brought value to our members by enabling them to receive a clear title upon the completion of their loan and in the event that they lose the title they are no longer in need of contacting us to receive a lien release. A member therefore saves time and is able to go directly to the DMV to obtain another title. Everyone has also benefited from the ability to prevent fraud on liens. We saved over $300,000 thousand dollars because of the programs ability to help us locate titles and add our liens before one of the local dealers in the area was able to continue the fraudulent activity on our titles.

2. Given your length of time participating what has the trend in value been?
The trend in value over the past 3 years has increased and the Electronic Lien Program is one that our Credit Union cannot do without.

See Part 2 and Part 3.