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90 New Clients in 2011...Now serving more than 1000

Frost Financial Services, Inc., the nation’s largest “independent” GAP administrator, is proud to announce that they have added more than 90 new clients in 2011 and now serve more 1,000 Credit Union clients nationwide.

One of the clients added in 2011 is DHCU Community CU in Moline, Illinois.  “We are excited to welcome DHCU Community Credit Union, to the Frost family,” said Phil Markwell, Partner and Director of Sales for Frost Financial Services.  “We believe that there is strength in numbers and by listening to the needs of our Credit Union partners we can continue to deliver market leading solutions that provide value for their members and helps increase non-interest income for the Credit Unions.”

“Our new partnership with Frost through our agent, The Stewart Group, allows for a true win-win relationship for our members and the Credit Union,” stated Matt McCombs, EVP of Sales, at DHCU Community Credit Union.  “The combination of our outstanding staff and the simple/efficient menu-selling tool to offer GAP and Vehicle Service Contracts has helped to protect our member’s investment while adding a significant increase to our bottom line.”



Frost, Mercer Group Announcement

CINCINNATI, Ohio – May 17, 2010 – Frost Financial Services, Inc (Frost) is proud to announce the launch of a new company that will focus on helping credit unions to maximize cross-selling and non-interest income opportunities. Frost has entered into a partnership with industry veteran, David Mercer, to form a new agency called Frost, Mercer Group, LLC.
Frost, Mercer Group, LLC
will provide a suite of insurance-based services and products that will enhance credit union revenue growth and provide streamlined product delivery at the member level.  

“We look forward to working with Dave, to leverage his broad credit union experience to better serve the needs of credit unions in today’s tough economic environment,” said Phil Markwell, partner of Frost.  “Dave has a proven track record of helping credit unions utilize technology to streamline and maximize the sale of non-interest income products” he said.
The new company has adopted the slogan, “Where independents grow”, which refers not only to credit unions who are willing to take a fresh look at their non-interest income opportunities, but also to the services that Frost, Mercer Group, LLC will deliver to other independent agents in the country who serve the credit union community.
“The independent agents who work with credit unions in this country serve an important function,” stated Mercer.  “They work specifically for their credit union clients rather than for a specific insurance company. This allows the agent to structure product combinations that can best serve each credit union’s unique needs. Increased competition has resulted in superior deals for credit unions who demand improved financial performance from their insurance portfolio.”
Frost is a leading provider of GAP programs and menu-selling technology to the credit union movement. Frost currently serves more than 950 credit union clients nationwide and their VisualGAP web-based platform has led the market in new innovations for more than 10 years.  The VisualGAP web tool has allowed credit unions to streamline their cross-selling efforts and point of sale packaging of GAP, service contracts and credit insurance/debt cancellation.
David Mercer has worked with over 100 credit unions in the last 25 years to develop revenue growth strategies and solutions through the use of menu selling technology and insurance.





Win-Win Situation for Credit Union and Member

“We have partnered with Frost Financial Services to offer GAP to our members. This is definitely a win-win situation for the credit union as well as for our members. The credit union receives fee income from the GAP program and we have a member who is great example of how GAP protects our members.

A long-time credit union member purchased GAP on his 1999 Chevy truck, based on his Member Service Representative’s recommendation. When his truck was totaled, the member was “up-side-down” on his loan and would have been forced to pay $5,921 out-of-pocket after his auto insurance settlement.

Frost’s VisualGAP program is the best we’ve found. Once we have a chance to explain to members the benefits and low cost of GAP they are typically eager to purchase the program.”

Kenneth Strand
Ohio Operating Engineers Federal Credit Union
Cleveland, Ohio



Frost Financial News

2007.. Another Record Year

2007 was another record year of growth and profitability for the Frost GAP program. With the addition of more than 100 new Lender clients in 2007, Frost now serves more than 1,000 Lenders nationwide and processes more than 10,000 GAP waivers per month.

GAP programs have become an important source of fee income for Lenders and Frost clients realized more than $15,000,000 in fee income in 2007 from their GAP programs. Lenders and their borrowers also benefited greatly from GAP coverage. In 2007, Frost processed more than $4,000,000 in GAP waiver benefits for its clients and many consumers now recognize the value of electing GAP waivers on their loans.

During the past several years, most Lenders have begun offering GAP coverage for their borrowers and most of Frost's new clients are now switching to Frost from other GAP program providers. The Frost GAP program has become known as the market leader in providing broad benefits and quality client service. Due to these market leading features, Frost proudly continued its year-over-year GAP client retention rate of more than 96%.





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