Lake Michigan Credit Union Expands Into Digital Channels To Grow Their Member Base
Lake Michigan Credit Union, based in Grand Rapids is one of the top-rated credit unions in the nation for “Return of Member” by Callahan & Associates, in terms of the value they offer their members. They are expanding into new markets and wanted a partner that could help them understand their existing member base and use those insights to find new members within their expansion markets.
HOW WE DID IT
Claritas appended P$YCLE® Premier to Lake Michigan Credit Union’s member records to develop a profile of their households. Segments were grouped into like targets and storyboards were created to provide direction on how best to identify and activate high opportunity prospects and members. The credit union used this data to inform a two-month multichannel campaign that included social, direct mail, radio ads and more.
THE CLARITAS EFFECT
8-36% growth in new members
68-227% in deposits
INTELLIGENCE YOU CAN USE
Built for the financial industry, P$YCLE Premier provides comprehensive consumer insights concerning financial wealth, insurance and investment products held, home value, technology behaviors and media preferences.