Synergent creates five Diamond-Award winning campaigns
CUNA Diamond Awards recognize outstanding marketing achievements.
WESTBROOK, ME (March 14, 2019) — Synergent is pleased to announce that it has helped five credit unions create Diamond Award-winning campaigns. The CUNA Diamond Awards recognize creative excellence and outstanding marketing results and are considered to be among the most prestigious in the credit union industry.
“Working with credit unions to produce effective, data-driven campaigns is rewarding enough,” shared Shannan Heacock, Senior Marketing Services Representative. “To be recognized by an institution like CUNA for that work is icing on the cake. Our credit unions should be recognized for the time and effort they’ve put into these campaigns; they deserve to feel the full force of their success.”
In collaboration with our credit union partners, Synergent Marketing Services created the following Diamond Award winning projects:
• Auto Loan Recapture Postcard |Bangor Federal Credit Union | Bangor
Maine Bangor FCU wanted to provide a consistent approach in recapturing lending opportunities within their membership to increase their auto lending portfolio. Using a targeted marketing approach, they used data mining to identify nearly 1,200 members. Sending one mailed piece, they increased their auto loan portfolio by 7%, with 119 new auto loans totaling $2,352,569 in new lending. This was an increase of 65% over the same time period in the prior year, and exceeded their marketing goal by 829%.
• Seasonal Holiday Loan Campaign | Bayer Heritage Federal Credit Union | Proctor, West Virginia
Every year, Bayer Heritage FCU does a special, well-known seasonal campaign that members have come to look forward to over the years. The Santa Helper Holiday Loan Campaign offers members interest-free holiday lending options to help with the stress of the holiday season. The goal of this campaign was to increase loans and assets while promoting community goodwill. It included one direct mail piece, flyer, statement insert, billboard, lobby monitor graphic, web banner, mobile app ad, and email graphic for employee emails. With 2,524 specific targets, the results were big. 420 Santa helper loans were opened, totaling $676,000 – 40% over their goal.
• System Upgrade Campaign | Heart of Louisiana Credit Union | Pineville, Louisiana
Heart of Louisiana CU was about to undergo a major, important system upgrade. To communicate this to members and staff, an impactful, playful, and meaningful brand awareness campaign was launched. Themed “Cruising Into Change” and “All-Aboard,” the campaign painted a literal picture of leaving a small rock of an island (their current system) and cruising to their new, all-inclusive resort (the new system). It also highlighted the new suite of products and services the upgrade would offer to members. 24,460 members were targeted three months in advance of the upgrade using a newsletter, email, poster, logo, booklet, and statement insert.
• Auto Loan Postcard & Email | Merrimack Valley Credit Union | Lawrence, Massachusetts
Using data mining, it was clear to see that current members were sending auto loan payments to other financial institutions from their credit union accounts. Merrimack Valley CU wanted to recapture these members with an offer to refinance their loans with Merrimack Valley CU. The successful postcard and email campaign was wildly successful, exceeding initial marketing goals by 960%! 349 new auto loans totaling $6,126,233 were refinanced, representing a 65% increase over the same period in the prior year.
• Loan Refinance Promo | Winslow Community Federal Credit Union | Winslow, Maine
When Winslow Community FCU set out to encourage its current members to refinance an auto loan or open a new auto loan with their institution, they were hoping for a 10% lift in consumer loans. Using an eye-catching illustration to stand out in the mailbox, their targeted auto campaign exceeded their goal by 349%! They brought in $800,211 in new lending, which for their institution was a $673,570, or 532%, increase over the same period in the prior year.
Diamond Award winners will be honored at the 26thAnnual CUNA Marketing & Business Development Council Conference dinner on March 22, 2019 at Caesars Palace in Las Vegas.
Founded by credit unions in 1971, Synergent® is a managed services provider that offers state-of-the-art and innovative core processing, along with in-demand payments, technology, and marketing services. As a service-driven and cost-effective host of Jack Henry™ Symitar® core processing, Synergent provides credit unions with the products and services they need to succeed. No matter what the product, our clients can count on Synergent to choose it, install it, integrate it, and help credit unions get the most out of it so they can focus on providing the best service experience possible to their members. For more information on Synergent, please visit www.synergentcorp.com or call 800-341-0180.