Marketing Partners developed a comprehensive 2003 Strategic Marketing Outline for Bayer Employees’ Federal Credit Union that included the credit union’s marketing goals for 2003. By April of this year, the credit union had hit or exceeded their loan volume, checking, and other new account goals. They also surpassed their membership goal for the entire year.
The credit union hit their loan volume growth goal with $17,858,161 in new loans, hit their credit card goal with over $33,347,169 in balances, hit their checking account goal with 464 new accounts, hit their other new accounts goal of 1,031, and exceeded their 5% membership growth goal by 10%.
To reach their goals, the credit union conducted two new branch opening promotions, a winter and spring multiple loans promotion, and a CUNA Mortgage promotion with lawyers of distinction. Matching newspaper ads, email marketing, and posters were also part of the promotional mix. The direct mail promotions were sent to selected current members and to potential new members in their community field of membership.
Bayer Employees’ Federal Credit Union is located in Proctor, West Virginia. They currently serve over 17,800 members and have assets exceeding $136,800,000.