Credit Union of America Surpasses Goal for Auto Loan Promotion

 

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In 1935 a teachers credit union was chartered to serve the educators of Wichita, Kansas that would later become Credit Union of America. The institution eventually opened its doors to workers and residents of multiple counties in Kansas. Still headquartered in Wichita, CUA now serves 54,000 members, has 12 retail locations, and $575 million in assets.

CUA has been a client of PLAY Creative since 2013. They came to us with a goal of gaining $59 million in auto loans over the course of 12 weeks. They needed a way to grab the attention of current members and potential members through a high-impact marketing and advertising campaign to boost revenue. We set to work developing a strategy.

 

There were two parts to this campaign: a promotion, and a challenge. The promotion was intended to engage members with incentives. Members could take out an auto loan with rates as low as 2.50% for 36 months. They could also receive 1% cash back if they refinanced a vehicle from another institution. Lastly, members had the chance to enter to win one of three $1,000 Visa gift cards.

The challenge was meant to encourage CUA sales staff to achieve the overall goal of gaining $59 million, as well as their individual branch goals for selling auto loans. We knew our solution would need to incorporate pieces that helped tellers and sales reps interact with customers, enabling them to reach these goals.

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The use of incentives plus an overreaching tie with auto loans inspired the theme, “Fully Loaded Giveaway”.

Goals we set for this campaign included:

• To develop colorful and impactful visuals that followed all of CU of America’s brand standards
• To develop messages that included the three different member offers
• To market to new members through direct mail and targeted mailing lists
• To market to existing members through dynamic lobby displays
• To encourage tellers and loan officers to engage with customers by providing print media to make interactions seamless

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Media we used were:
• Billboards
• Radio spots
• Ads
• E-newsletter
• Dynamic direct mail
• POP Displays
• Postcards
• Posters
• Vinyl floor decals
• Teller cards

 

The response to the campaign was tracked and showed positive results. CUA reached 14% of its overall goal in the first week of the promotion. Teller participation was increased, as well as sales over the previous year. In the end CUA not only reached but exceeded its goal of $59 million, finishing with a total of $62.9 million in auto loans.