Bayou FCU: Implementation Turned “Overwhelming” to “Exceptional”

Implementation That Turns “Overwhelming” to “Exceptional” With State National

Since 1954, Bayou Federal Credit Union (FCU) has assisted members in “Discovering the Difference” that credit unions offer. As a not-for-profit cooperative financial institution, they are owned and controlled by the people who use their services — their members. With a complete line of financial products from investments to lending, as well as 24-hour service and online conveniences, Bayou FCU makes a difference for more than 10,000 members and the communities they serve. Learn more at BayouFCU.org.

Bayou FCU of Baton Rouge and Lafayette, Louisiana, handles a large number of car loans within their $80 million portfolio.

Their previous collateral protection insurance (CPI) provider required them to perform tracking and other administrative details in-house — not a simple task considering the volume of loans Bayou managed. With these additional responsibilities on the credit union’s limited team, they soon found it challenging to keep up, and realized several of their vehicle loans were potentially uninsured.

Searching for a better option, Bayou FCU reached out to the Louisiana Credit Union League. The League had previously worked with State National, and recommended them to Bayou FCU. After careful research and verifying State National’s references, CEO Rhonda Linzy and VP of Lending Rick Sanchez were impressed by State National’s CPI program and their reputation among other credit unions.

Bayou Federal Credit Union Case Study preview image

“We contacted several credit unions that use State National,” Sanchez said. “Not many companies will give you a reference list. It seemed State National’s management team was on point.”

Bayou FCU officially decided to switch, confident in State National’s ability as a business partner, their resources, and product flexibility.

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