Organic Growth
Calling Campaign Inspires Organic Growth
Situation
For more than 70 years, SouthWest Federal Credit Union in St. George, Utah, was the main local financial institution in the communities it served. But as competition increased, the credit union needed a fresh strategy to stay on top. To grow more deposit members, the credit union concentrated on deepening relationships with its existing 18,000 members. Recognizing that the organization's employees were more adept at serving than selling, the credit union wanted a way to reach out effectively to members who likely weren't as familiar with all the credit union's services.
Solution
When Deluxe presented its outbound calling program, DeluxeCalling®, Marketing Coordinator Toby Hayes knew the program was a good fit because the program emphasizes an experience-driven approach and is tailored to meet a financial institution's campaign objectives and brand vision. Deluxe worked with SouthWest to develop a campaign that targeted members who had an auto loan with the credit union. The goal was to get these members into the branch to learn about other services. The members were offered a $25 gift card for coming into the credit union.
Results
The campaign achieved a surprising level of success:
- 43 members from 36 households set up 51 new accounts - a 118% return!
- 47% of the new accounts weren't even opened at that initial visit; the members returned on a different day to open them
- The credit union is now launching another DeluxeCalling campaign focused on promoting its Visa® platinum card and low interest rates
"DeluxeCalling opened up the door for our members. It let them know we were here to serve all of their financial needs. Taking that first step is what really drives in business, and Deluxe has really given us that confidence." ---Toby Hayes, SouthWest Federal Credit Union
