Show What's Possible With a Credit Union Loan

The affordability calculator shows potential loan applicants what’s really possible with a credit union loan.

By taking an applicants income and expenditure details we apply a credit unions specific DSR and NDI metrics to reverse calculate what borrowings are possible for an applicants personal circumstances.

Our intention with this product was to:

  • Demonstrate to the market that credit unions can finance larger lending requirements
  • To positively manage applicant’s expectations at the start of the application process
  • To create a warmer class of lead

The affordability calculator has been ranged in three credit unions where it has had a near instant positive impact on lead figures.

If you would like to incorporate the affordability calculator into your own digital marketing campaigns please contact us.

You can scroll down to read more about the results achieved.

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Affordability Calculator Results

The affordability calculator was first ranged in April 2018.  Our figures show how it is starting to affect applicant behaviour.

We expect that campaigns that focus on it as a point of conversion will have an overall effect of increasing borrowing sizes across other channels.

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0%
Increase on Principles Applied For
€0
Average Principal From Affordability Enquiries
0 Years
Average Duration of Loans from Affordability Calculator

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In campaigns where they are offered a choice of how they would like to engage the CU this the proportion choosing affordability calculator over a quote calculator.

This shows that users prefer the feedback it gives especially considering short online attention spans and the extra effort in filling out the longer form.

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In markets where the affordability calculator is ranged we can see the average borrowing applied for increases substantially.

When compared to leads that came from standard repayment quoting calculators the difference is as high as 26%.

Multichannel Campaigns

Marketing Affordability

The marketing campaign around affordability calculator is around the theme of Dream Big which Dundalk Credit Union developed.

We branded the calculator using a 1950s Americana Aesthetic for the initial campaigns which were run across

  • Facebook
  • Google Display, Gmail and Search
  • Ezines
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For an example of the campaign landing pages and email please visit:

Dream Big For Your Next Car Dundalk

Credit Union Plus Dream Big

Capital Credit Union Campaign Email

The following are video and display content ranged in the campaign.  The click through rate for our display campaigns was three times the national average for financial services.