Otis FCU Home Equity Loan Campaign Case Study
By leveraging member data through data mining and targeted communications, Otis Federal Credit Union was able to successfully raise awareness and increase its home equity lending portfolio.
Personalized postcards were sent inviting select members to apply online or to call the credit union to take advantage of a limited time offer, with incentives of half-price closing costs, no application fees, and no prepayment penalty.
Otis Federal Credit Union achieved a staggering 109% increase in home equity loans over the same time period in the previous year, signing 59 new loans totaling $3,692,575 during the quick two-month campaign!
Category: Case Study