AmeriCU Credit Union Executes Targeted Marketing Using In-Depth Analysis
AmeriCU Credit Union is a 15-branch credit union with $1 billion in assets that serves more than 100,000 members in upstate New York. Since 2008, Advisors Plus has worked with AmeriCU to grow and optimize its credit card portfolio through several targeted marketing campaigns each year.
Advisors Plus consultants began their partnership with AmeriCU by performing a strategic portfolio review, which incorporated industry research, analysis and data mining to identify growth opportunities. Based on those findings, Advisors Plus developed initiatives for AmeriCU in the areas of balance growth, new account growth, penetration rate, and increased credit card utilization by existing members.
Advisors Plus then utilized its proprietary SAS selection-and-exclusion-criteria software to project participation and profitability for five specific AmeriCU marketing campaigns. These campaigns were run between July 2009 and June 2011, and resulted in:
- Average credit card balance growth of 57% over the period, to $11.2 million overall
- An overall membership increase of 5%
- An 18% improvement in card penetration rate, to 11.7% overall