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By DigitalMailer, Inc.
While most CU's are struggling with ways to generate new loans,
one Mid-Atlantic CU has found the secret. Targeted eStatements are
proving to be one of the most productive and cost-effective loan-generation
tools in the marketing toolbox. Here’s how one CU is having
tremendous success getting more loans out the door….
How Did They Do It?
Over the last half of 2001, NWFCU (Herndon, VA) began a strategic
initiative to increase loan volume by targeting their members through
eStatement and web site campaigns. Using available database information
and the simple, yet powerful DigitalMailer eStatement engine, NWFCU
used the 44,000 monthly marketing opportunities to generate new
loans. The CU’s MCIF system identified members that most likely
had car loans and credit cards elsewhere. Once identified, their
eStatement program delivered "tailored offers" to those
Here are the documented results from Joan Stroud, the CU’s
The Secret is Out
While all eStatement products should provide a CU with cost saving
opportunities, only targeted marketing eStatements can put the right
offer in front of the right member at the right time.
Joan Stroud explains it this way,
"Each month DigitalMailer’s eStatement program saves
NWFCU $8,900 in statement costs and puts 44,130 marketing offers
in front of my eStatement members. Last year the CU saved over $80,000;
however, the cost-savings pale in comparison to the substantial
opportunity for increasing revenue by cross-selling our products
Test Drive our Targeted eStatement Approach Today
While standard electronic statement presentment provides limited
opportunities for cross-selling loans and other credit union financial
products, targeted marketing eStatements give credit unions possibly
the ultimate loan-generation tool. Whichever approach a CU takes
for eStatements, choosing the right eStatement provider is an important
strategic decision. To help CU's gather all the information to make
an informed decision, DigitalMailer has compiled a comprehensive
resource that reveals proven and tested cost-saving and targeted
marketing eStatement strategies. CU Executives can receive a FREE
copy of our eStatement Executive Briefing Report: 71 Strategies
and Tips for Successful and Profitable eStatement Implementation,
by registering at: http://www.digitalmailer.com/briefing.html
Inc. is an eStatement provider that assists our clients in gaining
a strategic business advantage over competitors via electronic statements,
newsletters and e-mail marketing campaigns. Our eStatement products
are designed by CU professionals to reduce operating expenses, enhance
cross-selling opportunities and increase revenue for our clients
by getting the right offer in front of the right member. For more
information on DigitalMailer, Inc. please go to http://www.digitalmailer.com
To subscribe to our e-newsletter that shares resources, industry
trends, best practices and valuable lessons learned from CU's and
financial service providers, click on the link below:
Toll Free (866) 994-4900
© 2002 DMI
This sponsored content article is provided to the credit union community for shared insights and knowledge from a recognized solutions provider in the industry. Please note that the views and opinions offered here do not reflect those of Callahan & Associates, and Callahan does not endorse vendors or the solutions they offer.
If you are interested in contributing an article on CreditUnions.com, please contact our Callahan Media team at email@example.com or 1-800-446-7453.
March 11, 2002
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