THE CLIENT
Sidney Federal Credit Union is a thriving financial institution with nine branches – serving members in Sidney, New York, and the surrounding communities.
THE CHALLENGE
Knowing that many people are strapped for cash during the holidays, the credit union wished to promote personal loans – in a new and innovative way – leading up to the winter season.
THE SOLUTION
image.works had the perfect outside-the-box marketing solution: live letter checks! Direct mail pieces that included real checks were sent to a specific list of pre-qualified members who could cash these checks quickly and easily to activate their new loan – just in time for the holidays.
THE RESULTS
The six-week campaign resulted in:
$82,650 in loan income (if loans were paid off early at 18 months)
9:1 ROI
$109,275 in loan income (if loans were paid off at maturity at 24 months)
12:1 ROI
Total expenses of just $8,815.82 (including tax, postage, design, printing and envelopes)
IN THEIR WORDS
“image.works not only had the live check idea, but they also had the expertise to help us pull it off. The results were mind-blowing. Not only did we exceed our goal of checks cashed, we can now say we haven’t had any defaults on payments! Now we have a baseline to expand on with the next live check promotion, which is ending in two weeks, and we’ve already met our goal. The whole team at image.works is a pleasure to work with!”
– Keith May, VP Marketing