Case Study: LOCO Credit Union boosts MMP sales and non-interest income with SWBC

LOCO Credit Union boosts non-interest income with SWBC as MMP sales nearly match GAP

LOCO Credit Union partnered with SWBC to implement its Major Mechanical Protection (MMP) product after facing challenges with a previous provider. The credit union, which has a significant portfolio of used auto loans, found it difficult to sell extended warranties due to member sticker shock and a lack of recognition for the old policies at repair shops. Their main objective was to increase employee MMP sales to generate more non-interest income.

SWBC's solution included comprehensive onsite and remote training for LOCO's staff, along with the implementation of the Mercury Road 2 Rewards incentive program to motivate sales. This combination of product education and rewards helped LOCO build a strong team-based sales culture. As a result, MMP sales nearly kept pace with their GAP sales, significantly increasing the credit union's non-interest income and providing valuable protection for both members and the credit union's loan collateral.

LOCO Credit Union