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Credit union improves marketing response rates by more than 10%

Build your portfolio with lower risk and higher returns

Background

1st United, a California-based credit union with approximately $1 billion in assets and 60,000 members wanted to increase the penetration of credit card offers to its members.

Solution

  • CU Rise conducted a detailed analysis of members’ financial history in order to design effective pre-approval campaigns that could be launched quarterly.
  • CU Rise then developed a model that predicted the propensity of existing members to adopt credit card offers.
  • Relevant introductory balance transfer offers were created alongside the pre-approval mailer.
  • Through precise and effective segmentation, the credit union targeted the right number of members and optimized marketing offer response rates.

Approach

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Results

  • 1st United saw a more than 10% increase in response rates on the first pre-approval campaign, and a 5-6% increase in ongoing campaigns.
  • Cardholders and credit card balances increased by 2%.