Credit unions may spend $50,000 or more every year on paperbrochures, with no way of knowing who reads them or who followsbrochures' calls to action.

What's more, because the terms, conditions, rates and productsare constantly changing, traditional brochures can quickly becomeoutdated.

Through a new pilot project involving three credit unions, theFilene Research Institute in Madison, Wis., said it hasdeveloped Leeflet, an electronic brochure program. Leeflet allowscredit unions to enhance sales and marketing efforts by cuttingdown on collateral costs and tracking campaign effectiveness.

The initial performance metrics are very promising, according toFilene. The open rate for all Leeflet brochures is more than 70%with a click-through rate higher than 25%.

“Leeflet has helped us at Fort Knox to present a more modernstreamlined look to our members while shaving marketing expensesand tracking our campaigns better,” said Ray Springsteen, executivevice president of the $1 billion Fort Knox FCU in Radcliff, Ky.

The $524 million Smart Financial CU in Houston, Texas and the$350 million Financial Center Federal CU in Stockton, Calif. arealso participating in the pilot project.

One of Filene's i3 innovation teams worked closely with electronicmarketing experts at DigitalMailer to create Leeflet.

“This pilot project is already a success story. It matches agreat i3 idea with a collaborative credit union provider and isshowing real-world results in three credit unions,” said JasonMilesko, chief of applied research and innovation at FileneResearch Institute. “We're excited to expand the pilot and build aservice that will help credit unions save money and serve membersbetter.”

Filene is hosting two free webinars on Jan. 29 and Feb. 12 toexplain the pilot project, describe expectations for pilotparticipants and outline the timeline of the research.

Interested credit unions should contact Tansley Stearns at (608)661-3753 or [email protected]. Credit unionsalso can register at the FileneResearch Institute site.