Press
DuPont Community CU Credit Card Balances Grow 12% in Three Months in Partnership with Advisors Plus®
Acquisition Campaign Generated Impressive 7.79% Response Rate, Included Follow-up Phone Calls
St. Petersburg, Florida (October 2, 2012) – DuPont Community Credit Union (60,000 members, $825 million assets) staff members worked with Advisors Plus® professionals to design and manage a successful credit card acquisition campaign that grew credit card balances by 12% in just three months and continues to generate 300 new accounts per month.
“Our retail staff is leading the acquisition campaign, supported by DCCU’s internal marketing team and the expertise and assistance of the Advisors Plus team,” said Peter Santana, Vice President of Lending for DCCU. In the past, the credit union averaged 100 new accounts per month, so the campaign has tripled its acquisition rate.
Advisors Plus assisted the credit union in designing a customized credit card acquisition campaign and also supplied DCCU with underwriting criteria and marketing planning. The promotion, mailed to 4,441 credit union membership prospects, generated an impressive 7.79% response rate, which translated to 346 new credit card accounts. The campaign marketing plan also included two nights of follow up calls by the credit union’s retail staff, which created an additional 100 acceptances.
The pre-approved offer included special savings on a DCCU VISA Platinum Rewards Card with a 1.99% APR for 12 months including balances transferred by June 30, 2012. A special incentive of 5,000 bonus points was awarded if $500 was spent in the first 90 days of the campaign. In addition, cardholders can continue to earn five CURewards Points on every dollar spent on gas and groceries until March 31, 2013.
“DuPont Community Credit Union is focused on building loan volume and our Advisors Plus team welcomed the opportunity to assist the credit union in designing and targeting a compelling card offer that ultimately boosted the number of products per member,” said Tom Chandler, Practice Leader, Advisors Plus. “These new cardholders quickly translate into loan growth, and increasing the number of products per member is another step in DuPont Community’s momentum toward becoming the member’s primary financial institution.”
About Advisors Plus
Advisors Plus was established in 2005 in response to the need for strategic assistance that equips community financial institutions to be successful in the highly competitive financial services market. Advisors Plus consulting services cover the full spectrum of growth opportunities: credit cards, debit and checking, marketing, call center and operations. The experienced consultants at Advisors Plus work with the organization’s staff through the entire process from project analysis to implementation and management. Our goal is to ensure that each financial institution achieves sustainable business growth, satisfying member experiences and operational efficiencies. Advisors Plus is an independent business unit of PSCU. For more information visit www.advisorsplus.com.
About DuPont Community Credit Union
DCCU is a not-for-profit financial cooperative, founded in 1959 to serve the ever changing financial needs of all the members who own it. The credit union currently has over 60,000 members, and over $825 Million in assets. DCCU operates 10 branches in the 11 cities and counties of the Central Shenandoah Valley community. Anyone who lives or works in those communities can open accounts with DCCU. For more information, visit www.mydccu.com.