TAMPA, Fla.–Suncoast Credit Union said it raised $10,000 for its Suncoast Credit Union Foundation to support children in the counties it serves through its “Drive it Forward” car loan promotion.
The promotion was conducted in partnership with GreenProfit Solutions.
Every car financed through the $14.2-billion Suncoast CU’s TrueCar portal during October 2021 generated a $50 contribution to its Foundation.
“Leveraging the power of Suncoast CU’s data-based marketing strategy, its cause-marketing campaign increased site visits by 217% and actual member leads by 176%,” the credit union said in announcing the results of the promotion.
In October, 213 sales were made, an annualized increase of 83%, “despite unprecedented supply constraints and increased pricing,” translating to a $10,650 Foundation donation. In addition, Suncoast Credit Union said it earned an average of 48% of loans to sales, totaling approximately $2.6 million in new auto loans for Suncoast.
“We’re very pleased with the results of our campaign,” Britney Hansen, Suncoast CU’s dealer relations director. “While we understand the challenging environment, it was wonderful to see how the portal helped many of our members find a vehicle, while also helping children in our communities. We sincerely appreciate GreenProfit Solutions for caring about our credit union and the communities that we serve.”
In addition, Suncoast CU reported the campaign generated 2,489 requests from members in the market for a car.
‘Wait & See Mode’
“According to industry analysts, between 33-50% are currently in wait-and-see mode due to constrained inventories and inflated pricing,” the credit union said. “Suncoast CU has the opportunity to reach out to each and every one of those leads to offer their car loans.
“Our mission is to provide tools to help credit union leaders balance mission and profitability to financially empower credit unions’ communities,” said GreenProfit Solutions CEO Joe Winn. “Suncoast Credit Union has been an incredible partner to work with and see our shared mission in action.”
Suncoast CU has approximately 985,000 members.