Credit Triggers – Daily Loan Acquisition: a $176m Institution Case Study2017-05-22T15:03:56+00:00

Project Description

CREDIT TRIGGERS – DAILY LOAN ACQUISITION

Objective:

This $176 million credit union wanted to increase loans among existing members.

Analysis:

Recognizing that credit activity provides a direct indication of borrowing propensity, MARQUIS set up a daily feed of data for creditworthy members. This program monitored the three major credit agencies, looked for activity among vehicle loans, mortgages and credit cards.

Action:

The campaign included three letters, making pre-qualified offers of credit. When a credit inquiry came in for a qualified member, a letter was sent within 24 hours, providing a timely, relevant and personal communication.

Results:

In just 3 months, the client gained 55 new accounts, with balances over $1 million. The campaign had an ROI of 325% and generated more than $18,500 in profit.

SOLUTIONS USED

MARQUIS Creative | MARQUIS OnTrax