CommonWealth One Federal Credit Union

 
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CommonWealth One Federal Credit Union (COFCU) was chartered in 1944 as Army Air Force Annex #1 Credit Union, launching with 94 members and an all-volunteer staff.  Today COFCU is a full-service financial institution with more than 32,600 members, $320 million-plus in assets and branches across Northern Virginia, Washington, DC and Harrisonburg, VA.

The Challenge

ROI first started working with COFCU and its CMO, Karyle Thornton, in December 2016. (We previously worked for eight years with Ms. Thornton at another credit union, and successfully supported that company’s efforts in building membership and revenue growth by developing various creative branding and strategic media campaigns). COFCU’s sales and marketing mission was similar in that they were looking to grow branded, marketplace awareness, membership and loan revenue, specifically in credit card transfers, auto loans and home loans. Ms. Thornton assigned ROI to develop, roll out and steward a similar program for 2017.  

The Response

ROI responded with a multimedia creative and media program leveraging a tightly demo- and geo-targeted, social media marketing campaign (Facebook, Google Adwords, pay-per-click and retargeting). And, we married social media with a very demo-targeted, signature radio campaign to concurrently run with and support the online program, by expanding COFCU’s target audience mass reach and brand recognition in the Greater Washington, DC and Southern Virginia marketplaces. 

We did so, because ROI previously delivered success to other clients with similar, direct response, lead generation marketing campaigns combining these specific, offline and online media. Additionally, we felt strongly that this combination would work well with a COFCU monthly budget that was somewhat limited, yet was effective enough to still generate measured impact and success.

The Results

Per COFCU, starting in January 2017 and continuing for the past eight months, COFCU’s new campaign has delivered a measured, 15% increase in loan volume and significant member growth. Social and online keyword search media, along with demo-targeted broad reach radio advertising are now accounting for 12% of COFCU’s new member acquisitions.