Project Description

Case Study: Member Value Statement

To demonstrate the value of credit union membership

The $7 billion credit union has consistently communicated with members about the various ways membership can help save money. They wanted to develop a compelling, personalized message that would clarify exactly how much savings each member’s accounts are generating, as well as an overview of savings for the entire membership.

A Marquis analyst obtained rate and fee information for banks within the credit union’s metropolitan statistical areas (MSAs). This information was compared with the rates and fees at the credit union, and the difference was applied to each member’s accounts.

After annualizing the results for a one-year snapshot of savings, the Marquis analyst helped narrow the mailing list based on savings amount and product usage.

A trifold letter was sent to 19,069 members, with a personalized chart showing account-by-account savings amounts. Variable cross-sell messages promoted products that each particular member did not currently have at the credit union, and a website gave further details on the program. Recipients were encouraged to contact the credit union for help with maximizing their savings.

Over a 6-month tracking period, the target group opened 8,305 new accounts. With total balances over $96 million, the program generated more than $788,000 in profit.