BANK AND CREDIT UNION MARKETING

Heritage CU SmartTrack Case Study

THE CLIENT
Heritage Credit Union – based in Madison, Wisconsin – has $350 million in assets and serves more than 28,000 members in Wisconsin and Illinois.

THE CHALLENGE
The credit union wanted to capture the attention of qualified members who were shopping for auto, mortgage, home equity and personal loans – before those members accepted financing from a competing institution.

THE SOLUTION
As part of our SmartTrack program, we crafted a series of eye-catching, on-brand postcards and emails that let members know they were pre-qualified for a loan at Heritage Credit Union. These pieces were sent only to creditworthy members who were already seeking out specific loan types.

THE RESULTS
Over a six-month period, 19,000 members were monitored, and new loans reached almost $2.3 million – just from direct responses.

Direct Responses
Total auto loans opened: 37
Total home loans opened: 17
Total personal loans opened: 20
Total loans opened: 74
Total loan amount: $2,293,594.75

Indirect Responses
Total auto loans opened: 75
Total home loans opened: 7
Total personal loans opened: 26
Total loans opened: 108
Total loan amount: $1,802,987.29

IN THEIR WORDS  
“Over the six-month period that we used the SmartTrack program to pre-qualify our members for auto, mortgage, home equity and personal loans, we saw a direct response rate of nearly 3%, resulting in $2.3 million in new loans. We believe the consistent messages being sent to our members through the program helped us capture business that we may have otherwise lost to our competitors.”

– Karina Jacobs, Marketing Director

RealResult - Choose one if it is: