For McCoy Federal Credit Union, the opportunity was already there. Members were engaging with their credit score and exploring loan offers. What was missing was a path that could take them from interest to a completed application without losing them along the way. When McCoy moved to SavvyMoney’s Digital Account Onboarding solution, the results were immediate and tangible: a funnel that converts at unprecedented rates, across both credit cards and personal loans, at scale.
At a Glance
- 4x increase in credit card application completion rate
- 2x increase in personal loan application completion rate
- 95% of members who receive an offer apply
- 150% increase in application starts
About McCoy Federal CU
- 46,000 digital banking users
- $1B in assets
- March 2017 launched SavvyMoney
Opportunity
McCoy Federal Credit Union knew its members were interested in borrowing. Credit Score engagement was strong, and loan offers were being served. But the path from offer to submitted application was losing too many borrowers before they made it across the finish line. McCoy needed a lending experience that could meet members where they were and carry them through to submission without friction.
The credit union made a strategic move to SavvyMoney’s integrated Digital Account Onboarding solution, connecting its member-facing offer experience directly to a seamless, end-to-end application flow for both credit cards and personal loans.
Solution
McCoy Federal Credit Union removed friction from the borrowing journey and, in doing so, fundamentally changed what its lending funnel could do. Application completion rates nearly quadrupled for credit cards and doubled for personal loans. Member interest didn’t change; the path from offer to submission finally matched it.
“Our members were ready to borrow. They were engaging with their credit score and responding to offers. We needed a solution that could take that interest all the way to a completed application, and that’s exactly what SavvyMoney delivered.”
Wayne Schneck, VP Marketing
SavvyMoney made that possible by connecting McCoy’s credit score and offer experience to an intelligent, pre-qualified application flow. When a member receives a loan offer, their verified information moves with them, eliminating redundant data entry and guiding them through offer generation, decisioning, and final submission in one continuous experience. The integration went live for both credit card and personal loan products, giving McCoy a unified experience across its consumer loan portfolio from day one.
For McCoy’s members, the difference is felt the moment they engage with an offer. The lending journey respects their time and keeps them moving toward a decision, while converting interested borrowers into completed applications and real lending opportunities for the credit union.
Impact
The results were measurable, immediate, and have held up over time.
Before the integration, McCoy’s credit card funnel completed at 18%, meaning fewer than 1 in 5 members who started an application made it through to submission. For personal loans, that number was 33%. After moving to SavvyMoney, those numbers changed drastically.
In the first month, 70% of credit card applicants completed their application, nearly 4x the pre-integration rate. Personal loan completion reached 65%, doubling the previous baseline. And these numbers aren’t a launch spike: across more than 1,200 combined application starts since go-live, the platform has demonstrated consistent performance at scale.
The efficiency of the offer experience is equally striking. Across both products, approximately 95% of members who receive an offer advance to the application stage, a rate that reflects how well the integrated experience converts intent into action. And as conversion improved, volume followed: combined application starts increased by approximately 150% after the integration went live. McCoy isn’t just completing more of the applications it was already getting; it’s generating significantly more of them.
For McCoy, these numbers represent something simple: more interested borrowers completing applications means more lending opportunities, stronger member relationships, and a funnel that’s finally working as hard as the team behind it.
