Zipwhip for Credit Unions

Towpath Credit Union

Towpath Credit Union is a member-owned credit union in northeast Ohio with 65 employees, three branches and over $125 million in assets. With a motto of People Helping People, it’s not surprising that Towpath prides itself on helping its members achieve their dreams by providing a safe and healthy space to bank.


  • 10-15% increase in loan-closing ratio
  • Lower delinquencies and charge offs
  • Improved member satisfaction



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Always looking to improve the member experience, Towpath wanted to offer a modern, nimble way to communicate with them. The solution would have to help the credit union be more responsive to members’ questions, optimize the loan process and work with the credit union’s existing workflows. Additionally, the solution had to be secure, TCPA compliant, and of course…easy for members to use.

After researching several available technologies, the solution was clear…Zipwhip. With Zipwhip’s texting software platform, Towpath members can now communicate with the credit union by text. 

"If you're in Financial Services and think you don't need a texting solution, you're going to lose. You won't get the growth you need. You're not going to have a competitive advantage. It's just that simple."
Mike Sferro Towpath Credit Union testimonial
Michael Sferro
Senior Vice President, Towpath Credit Union


Offering texting to members has had a positive impact in many areas of the business, including lending, collections and member service.

Texting has improved the loan approval process. Members can easily snap a photo of a paystub, insurance card or VIN number and text it to their Loan Officer.

Texting also helps Towpath close more loans. Because Towpath does not offer indirect lending, members would often finance cars at the dealership — even if they had prearranged to get their loan through Towpath. Because let’s face it, after hours of negotiating for a car, “We’ll get you the same rate, and take care of you right here” can be a pretty compelling offer. 

But now, thanks to the ease and flexibility of texting, Towpath members feel more empowered. While at the dealership, they can send a quick text to the credit union describing the terms of the dealership’s offer. This gives Towpath the opportunity to offer their member better terms or a lower rate. As a result, since implementing Zipwhip, Towpath has improved their loan closing ratio by 10-15% and is #1 in loan growth in their peer group of credit unions in Ohio as of the publish date of this case study. 

Texting also helps when members face difficult times financially. When members fall behind on their payments, Towpath’s Member Solutions team is able to send the member a discrete reminder text and work with them to bring their loan current. Thanks in part to this ability to text with members, Towpath enjoys some of the lowest delinquency and charge-off figures of their peer credit unions. 

At the end of the day, the credit union exists to serve its members. And Towpath’s members really appreciate being able to text. Michael Sferro, SVP says that they have seen a huge uptick in Ease of Doing Business on their member surveys. Members say that it’s easy to get ahold of the credit union, and they get responses quickly.

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