Shastic’s Calcubot—a Facebook mortgage and auto financing tool— produced immediate dividends for $3.2 billion asset Kinecta Federal Credit Union in Manhattan Beach, Calif., and has become a fan page feature for 32 other credit unions nationally.
The beauty of Calcubot is that it’s easy—to install, to integrate, and to use. The tool gives credit unions a branded social media billboard that culls daily loan rates. Consumers can tweak mortgage and auto loan durations and down payments, set up alerts for targeted rates, share estimates with family and friends, and trigger the loan application process.
“Social media’s not a place to sell things, but it’s a great opportunity to engage people to move to that next level,” says Shannon Doiron, Kinecta Federal’s director of marketing. “It creates that conversation.”
Within the first three months of its installation on Kinecta Federal’s Facebook page, Calcubot had 606 visitors, produced 700 estimates, and generated 21 “apply now” clicks. Eight of those turned into fully funded mortgages.
And in a five-month period, $1.2 billion asset Numerica Credit Union in Spokane Valley, Wash., drew 763 visitors to its Calcubot, generating 1,388 estimates and prompting 28 “apply now” clicks, says Joseariel Gomez, Shastic CEO.