Grow GenZ membership with Sparrow digital loan platform
Navigating the engagement and expectations of the Gen Z and Millennial generation is an important priority for credit unions. A recent McKinsey Consumer Financial Life Survey unveiled key insights that could help with this goal including that credit unions need to increase investment in digital technologies that provide an authentic, improved member experience. That’s because 65 percent of adult Gen Zer’s and 57 percent of millennials rely on digital channels for making decisions on goods and services, compared with only 36 percent of baby boomers.
Offering a digital search and approval platform for student loans is a great opportunity to build long-term relationships with this population.
Sparrow, an innovative solution, can help young borrowers fund their education without your credit union becoming the lender of record.
Sparrow is an online student loan and refinancing platform where borrowers can conduct a search for a loan from a national network of 17+ lenders to find the best rates and terms on a wide variety of student loan products. Adding Sparrow’s white-labeled student loan marketplace to your website is affordable, takes just a few minutes, and no custom programming or complex integrations are required. Plus you earn a fee for every loan originating from your credit union’s website.
If your credit union already offers student loans, partnering with Sparrow can help increase loan applications, Gen Z membership, and cross-selling opportunities. Contact Kevin Mulder at Navatros or learn more about how your credit union can provide a simplified but powerful student loan experience.
Navatros, formerly OCUL Services Company, provides credit unions and finance organizations with personalized business solutions. Through trusted service and advice, Navatros helps businesses solve challenges and achieve goals.
