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Loan Promotion Case Studies
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![Page 1: Loan Promotion Case Studies](https://reader030.fdocuments.in/reader030/viewer/2022032709/568131de550346895d9844da/html5/thumbnails/1.jpg)
Loan Promotion Case Studies
Matt McPherson
![Page 2: Loan Promotion Case Studies](https://reader030.fdocuments.in/reader030/viewer/2022032709/568131de550346895d9844da/html5/thumbnails/2.jpg)
Case StudiesCase Studies
• Information gathered from CU TV, Callahan & Credit Union Times
![Page 3: Loan Promotion Case Studies](https://reader030.fdocuments.in/reader030/viewer/2022032709/568131de550346895d9844da/html5/thumbnails/3.jpg)
Northwest Federal CUNorthwest Federal CU
• Herndon, VA
• Assets: $2B
• Members: 104,997
• Loan Originations (YTD 3Q): $351M
![Page 4: Loan Promotion Case Studies](https://reader030.fdocuments.in/reader030/viewer/2022032709/568131de550346895d9844da/html5/thumbnails/4.jpg)
Northwest Federal CUNorthwest Federal CU
• Method: eMail Blast about slashing auto rates
• 32,000 emails sent
• 8,000 were opened
• 2,000 click through rate
• $1.4M in loans
![Page 5: Loan Promotion Case Studies](https://reader030.fdocuments.in/reader030/viewer/2022032709/568131de550346895d9844da/html5/thumbnails/5.jpg)
Visions Federal CUVisions Federal CU
• Endicott, NY
• Assets: $2.5B
• Members: 127,290
• Loan Originations (YTD 3Q): $411M
![Page 6: Loan Promotion Case Studies](https://reader030.fdocuments.in/reader030/viewer/2022032709/568131de550346895d9844da/html5/thumbnails/6.jpg)
Visions Federal CUVisions Federal CU
• Method: Black Friday Loan Sale– 2 day loan sale on Black Friday weekend– Rates published on Thanksgiving Day– 36 month auto loan at 1.99%– 3/3 adjustable rate mortgage with first 36
months at 1.99%– Unsecured 36 month personal loan at
2.99%
![Page 7: Loan Promotion Case Studies](https://reader030.fdocuments.in/reader030/viewer/2022032709/568131de550346895d9844da/html5/thumbnails/7.jpg)
Visions Federal CUVisions Federal CU
• Results– 700 applications– $9.6M in new loans– 200 new Members
![Page 8: Loan Promotion Case Studies](https://reader030.fdocuments.in/reader030/viewer/2022032709/568131de550346895d9844da/html5/thumbnails/8.jpg)
Service CUService CU
• Portsmouth, NH
• Assets: $1.73B
• Members: 139,628
• Loan Originations (YTD 3Q): $384M
![Page 9: Loan Promotion Case Studies](https://reader030.fdocuments.in/reader030/viewer/2022032709/568131de550346895d9844da/html5/thumbnails/9.jpg)
Service CUService CU
• Method 1: Black Friday One Day Sale– Doorbusters: 6am-noon
• No fee VISA Gift Cards• 1% off Personal Loans• $25 VISA Gift Card for opening a VISA
– Results• 55 Personal Loans• 135 VISA Credit Cards
![Page 10: Loan Promotion Case Studies](https://reader030.fdocuments.in/reader030/viewer/2022032709/568131de550346895d9844da/html5/thumbnails/10.jpg)
Service CUService CU
• Method 2: Cyber Monday– Online Only (Saturday – Monday)
• $25 VISA Gift Card for opening a VISA
• Results– 12 VISA Credit Cards
![Page 11: Loan Promotion Case Studies](https://reader030.fdocuments.in/reader030/viewer/2022032709/568131de550346895d9844da/html5/thumbnails/11.jpg)
Affinity Federal CUAffinity Federal CU
• Basking Ridge, NJ
• Assets: $1.9B
• Members: 136,646
• Loan Originations (YTD 3Q): $313M
![Page 12: Loan Promotion Case Studies](https://reader030.fdocuments.in/reader030/viewer/2022032709/568131de550346895d9844da/html5/thumbnails/12.jpg)
Affinity Federal CUAffinity Federal CU
• Method: Loan Health Check Program– Using Member data found loans Members
held elsewhere– Personally called Members– Help Members find a way to better save
• Results– 14% loan growth
![Page 13: Loan Promotion Case Studies](https://reader030.fdocuments.in/reader030/viewer/2022032709/568131de550346895d9844da/html5/thumbnails/13.jpg)
Workers CUWorkers CU
• Fithburg, MA
• Assets: $782M
• Members: 66,403
• Loan Originations (YTD 3Q): $140M
![Page 14: Loan Promotion Case Studies](https://reader030.fdocuments.in/reader030/viewer/2022032709/568131de550346895d9844da/html5/thumbnails/14.jpg)
Workers CUWorkers CU
• Method: Free Credit Report – Any Member that comes into a Branch– BD Officers went to SEG’s– Also, offer to evaluate the report
• Results:– Loan Growth of 76%
![Page 15: Loan Promotion Case Studies](https://reader030.fdocuments.in/reader030/viewer/2022032709/568131de550346895d9844da/html5/thumbnails/15.jpg)
San Francisco Federal CUSan Francisco Federal CU
• San Francisco, CA
• Assets: $674M
• Members: 27,857
• Loan Originations (YTD 3Q): $160M
![Page 16: Loan Promotion Case Studies](https://reader030.fdocuments.in/reader030/viewer/2022032709/568131de550346895d9844da/html5/thumbnails/16.jpg)
San Francisco Federal CUSan Francisco Federal CU
• Method: Targeted Direct Mail– Target Members with $5,000 or more in
outside Auto Loans– Went to 740 people
• Only those that would benefit (NetPromoter)
– Mailings quoted a specific rate based on Members tier
– Results: • 125 responses
![Page 17: Loan Promotion Case Studies](https://reader030.fdocuments.in/reader030/viewer/2022032709/568131de550346895d9844da/html5/thumbnails/17.jpg)
Apple Federal CUApple Federal CU
• Fairfax, VA
• Assets: $1.28
• Members: 111,469
• Loan Originations (YTD 3Q): $197M
![Page 18: Loan Promotion Case Studies](https://reader030.fdocuments.in/reader030/viewer/2022032709/568131de550346895d9844da/html5/thumbnails/18.jpg)
Apple Federal CUApple Federal CU
• Method: Realize Your Dream– $10,000 Grand Prize Drawing– Entry for each loan application or
submitting your (dream) story online– Comprehensive campaign Oct – Dec
• Results:– ROI of 794%– $22M in loans