Menu-Selling Increases Service Levels and Deepens Penetration

New application processes capture loan-seeking members of all generations and improve online cross-selling.




It's no secret credit unions put their members first, but how can they provide out-of-this-world service to members who don't have time to visit a branch to apply for a loan or prefer to do so online? Providing the same high level of service online as in the branch is a challenge for credit unions. Much of the discussion about reaching online members centers on Gen-Y, but in reality, other members are also venturing online to apply for loans and conduct business.

Menu-selling is an up-and-coming tool for reaching out and educating online members of all generations who are applying for a new loan. The premise of menu-selling is simple. Members fill in their basic information (or a system that works with the data processor pre-fills the fields) and indicate the type of loan they are looking for. The menu then offers a variety of options based on the loan payment and add-on protection the credit union offers. For example, the menu could include an option with credit life and disability protection, another with GAP, and yet another with credit insurance and GAP together.

Having these options presented clearly on one screen, with product descriptions and transparent monthly payments, empowers members to make an educated decision on which menu selection will best fit their needs and highlights additional services the credit union provides. It's as if the member has a member service representative at home guiding them through the process.

In addition to the personal feel a menu-selling presentation provides members, it also helps credit unions protect more members and penetrate deeper with non-interest income opportunities. In fact, insurance penetration rates for CRI Solutions' Internet loan application are higher than the overall credit union penetration in more than 80% of its online accounts.

CRI Solutions' online loan origination engine, Interlend, has been enhancing members' online experience through menu-selling for more than two years. Interlend's ability to communicate with client data processors, in addition to its clear payment and protection presentation, gives members a simple, seamless, and pain-free way to deepen their relationship with the credit union. It’s a win-win situation, with enhanced service levels for members and increased non-interest income for the credit union. More income for the credit union means more stability and services for their members, and who doesn’t want that?

Visit CRI Solutions and request an online demo to see for yourself how Interlend puts menu selling into action.




April 12, 2010


  • this would be interesting if it was 2002. Credit Unions need to focus on expanding their membership, creating a 'buzz' around their brand and making it cool to do business with them. If not, they are toast. Tinkering around the edges ain't gonna get it done.
  • Just a lot of hype with no substance
  • at my credit union we are focusing on making sure that our staff is trained and motivated. There is something wrong when a static screen does a better job of offering product than a quality loan officer.