Case Studies

Get the details on some impressive results.

What can your credit union learn from others' experiences?

728% Return on Investment

Adjustable Rate Mortgage promotion yields huge ROI for Johns Hopkins Federal Credit Union.


Research

A new 10/1 Adjustable Rate Mortgage product had been launched 3 months prior, resulting in five loans on the books. With all systems functioning well, it was time to promote it to the entire membership.

Strategy

The JHFCU 10/1 ARM offered the low rate of a 15-year mortgage with a 30-year repayment term and a rate locked for 10 years. The promotion featured the top reasons members should choose this mortgage option, including superior service from a local lender.

Target

Members with a credit score above 660 who had deposits of at least $1,000 were targeted. Members who currently had a first mortgage with the credit union were excluded. The mailing list contained 9,599 names.

Delivery Channels

  • jumbo postcard with die-cut windows revealing the top 10 reasons to choose the 10/1 ARM
  • interactive web banner

Return on Investment: 728%

JHFCU put 21 new loans on the books totaling $6,500,000 in less than 4 months. The average loan was over $300,000. Although the response rate was low at .002%, the dollar amount was high, resulting in an ROI of 728%.

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