THE CLIENT
Abound Credit Union has been serving members for 70 years. As Kentucky’s largest credit union, they strive to help hardworking Kentucky families thrive.
THE CHALLENGE
Encourage members to utilize their available credit on their Home Equity Lines of Credit, thus increasing the credit union’s overall HELOC balances.
THE SOLUTION
With the help of image.works, Abound Credit Union launched a personalized campaign directed toward members with at least 50% of their HELOC available. The campaign consisted of a direct mail letter and follow-up emails that indicated the exact amount each member had available on their HELOC.
THE RESULTS
The analysis highlights an impressive increase in HELOC balances over a three-month period.
Response Rate: 24.4%
Number of Increased Balances: 306
Total Funds Generated: $6,151,332.59
HELOC Revenue Increased by: 41.67%
ROI: 1,466.2:1
IN THEIR WORDS
“As Kentucky’s largest credit union, marketing is a large part of what we do. With only so much time in the day, it’s nice to know we can always count on image.works. Their team is thoughtful, knowledgeable and action based – the results speak for themselves. I know when image.works is on the job I can relax and focus on other things because they have my back.”
– Susan Mandarino, VP of Brand and Marketing