Holiday Loan Direct Mail Letter

East Coast Credit Union launched a direct mail campaign targeting their existing membership who qualified for a special term loan offer. The overall strategy was to increase their lending portfolio by writing an additional loans or $1 million in new business. The letter encouraged members to bring more of their business to us by taking advantage of a special loan offer just before the Holiday Season, a time when there is an increased demand on finances. ECCU created a mailing list and a phone contact list of these members and delivered letters. They also used their customer relationship management tool to reach members via in-branch teller prompts to reach those who came to the branch. ECCU also used online banking messages, made proactive phone calls to ensure members were aware of the offer. The campaign was a huge success. They completed a total of 255 loan application for a total of $2.55M in loans, almost tripling their goal. This campaign also resulted in an outstanding 319% increase in insurance sales. They had a response rate of 9% which is way above the market standard.

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Credit Union
East Coast Credit Union
Division
2
Category
Direct Marketing
CREDITS
Karen Hurst - Kareative Arts
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