Case Studies

Get the details on some impressive results.

What can your credit union learn from others' experiences?

$819K in New Loans

This jumbo postcard with die-cut windows revealed a great offer and $100 gift card incentive for EP Federal Credit Union.


Research

In May of 2011 home equity loans were on the decline. The credit union wanted to continue to promote these loans due to typically higher balances and the credit union’s need to increase loan volume in a declining economic environment.

Strategy

Combine an excellent offer of ‘No closing costs’ with a home improvement gift card of $100 at closing and a maximum loan of $250,000 in a unique format designed to engage the member.

Target

5,140 members in good standing with no loss attributable to the CU.

Delivery Channels

  • jumbo postcard with die-cut windows revealing the $100 Gift Card offer
  • statement onsert
  • magazine ad
  • inLighten screen

Return on Investment: 262%

In a 3-month period the credit union booked 11 loans, for a total of $819,000. The average interest rate for these loans was 4.41% APR and the average draw was $23,045. The cost of the promotion was $4,267. The first-year interest on cash advances to date has been $11,179. ROI was 262%.

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