Federal Credit Union Scratches Their Way to a 5% Deposit Increase

Federal Credit Union Scratches Their Way to a 5% Deposit Increase

The Pepper Post from Ghost Chili Promotions


...From the Case Files...

Company: Federal Credit Union

Objective:

Scratch Off Credit Union Promotion - Pepper Post 9/26/13A Federal Credit Union needed an innovative promotion to help face two issues threatening their future competition from local banks and declining deposits from existing members. Existing members were having a difficult time trying to save money and the local banks were trying hard to get their attention and sway them from the credit union. The credit union needed a promotion to retain their members and convince them to start saving money.

Strategy:

Scratch and Win game encouraged members of the credit union to start saving more. They gave each member who made a $100 or more deposit to their account a game card.

Results:

The prizes included 0.25% off a new auto loan, or a key chain, tape measure, tote bag, or travel mug. The credit union saw a 5% increase in share deposits during the promotional period!

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