Case Study: Heritage Federal Credit Union increases vehicle protection sales with SWBC GAP with PowerBuy

Heritage Federal Credit Union boosts vehicle protection sales nearly 50% with SWBC

Heritage Federal Credit Union, a client of SWBC, faced a competitive auto lending environment and sought a better way to offer Guaranteed Asset Protection (GAP) to its members. Their standard GAP product was not providing full benefits for all members, particularly those with good equity in their vehicles.

SWBC implemented its GAP with PowerBuy solution, which provides more comprehensive coverage. Following training from SWBC, Heritage FCU's staff began offering the product on every loan. This resulted in a nearly 50% increase in vehicle protection sales and a 15% increase in product penetration within the first six months. SWBC's solution also increased the credit union's contribution margin by 76%.

Heritage Federal Credit Union