To find out which existing members would likely consider switching certain products at other financial institutions, Meriwest Credit Union discovered it could woo them without having to buy print or media advertising.
The $1 billion cooperative in San Jose, Calif., said it set out to analyze members' credit usage and look for cost-effective ways to gain wallet share without using print or media ads.
Meriwest said utilizing the latest in analytic technologies and electronic marketing, it was able to identify members with car loans, mortgages and credit cards at other institutions, and who would most likely consider switching to Meriwest.
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