BENTON, Ark.–The $41-million Alcoa Community FCU here is reporting a turnaround in its bottom line following a coordinated digital marketing campaign to drive loans, among other steps.
The credit union partnered with Jupiter, Fla.-based Response Genius on the promotion.
According to the company, ACFCU was able to move from sluggish growth to robust growth over a 12-month period by using a digital marketing effort that promoted its modernization initiatives.
Over that time period, Response Genius said:
- 20% of members with email addresses took out direct loans in the first 12 months.
- There was an increase in direct loan production to “record levels” within 22 months, realizing 8.7% loan production increase year over year.
- Online applications increased by more than 150% within six months.
- The number of members reached through digital marketing channels increased by nearly 300%.
Alcoa Community also increased its number of Facebook likes more than any other financial institution in its market during the time period, it added.