Advance Financial 7-11 Promo a Hit
SCHERERVILLE, Ind. - Luck had nothing to do with a recent Advance Financial Federal Credit Union (AFFCU) 7-11 Certificate of Deposit Promotion. Working with a minimal promotional budget and its marketing communications agency Heisler Gordon & Associates, the credit union exceeded its goals. "Like all credit unions, we are challenged to achieve our deposit and membership growth objectives as cost effectively as possible, and in a very competitive environment," said Advance Financial Marketing Director Samantha Knight. "We asked our agency to come up with an impactful theme and visuals to stop people in their tracks, and let them know that we offer extremely aggressive rates on certificates of deposit.' The winner proved to be an image of a roulette wheel and the theme "Think of it as your wheel of fortune," which helped the credit union reach its $3 million goal in less than two weeks -some 10 weeks ahead of schedule. "After just six weeks, we nearly doubled our goal by generating $5,976,152.71 in deposits, of which two-thirds was new money," said Knight. "Equally exciting was the fact that we had 99 new members join as a result of hearing about our great rates and member-centered programs." Promotional materials featured the central marketing message: "It's no gamble. Take a spin with Advance Financial's lucky 7-11 CDs...At AFFCU, you're always in the winner's circle" and highlighted AFFCU's seven-month CD (4.25% APY) and 11-month CD (4.50% APY). Program components included a mix of in-branch posters, statement stuffers, drive-up banners, movie theater slides, newspaper ads, a story in the quarterly newsletter, and a Web site announcement. As an extra incentive, participating members received a free $25 gas card.