THE CLIENT
Serving 23 counties in Mississippi, Members Exchange Federal Credit Union (MEFCU) has been helping their members achieve financial wellness for over 70 years.
THE CHALLENGE
Not wanting to miss out on shoppers actively searching for loans elsewhere, MEFCU wanted to strategically target these consumers in order to bring business back to the credit union.
THE SOLUTION
MEFCU turned to image.works to set up a SmartTrack campaign that would track these creditworthy individuals in real time. The campaign consisted of a series of eye-catching, on-brand postcards and emails that alerted these active shoppers of their loan preapproval with MEFCU and touted a $50 incentive for those who opened a loan.
THE RESULTS
Over a three-month period, the credit union successfully increased loan sales and reverted consumers back to the credit union. The results speak for themselves:
- New Loans: 30
- New Loan Balances: $582,425.75
- Estimated ROI: 12.9:1
IN THEIR WORDS
“SmartTrack has been great for us here at MEFCU. The results are amazing, and because of that, we are doing a full 12 months of the program for next year.”
– Misty Munn, Senior Vice President, Members Exchange Federal Credit Union