In the credit union industry, the Credit Union National Association (CUNA) Diamond Awards are significant. On March 28, credit union marketers from across the country gathered in Orlando for the annual Diamond Dinner and Awards Presentation held during the annual CUNA Marketing & Business Development Council Conference. Synergent is proud to have created three of the winning campaigns in collaboration with the credit unions that we serve, all in the Segmented Marketing category.
“This year marks Synergent’s 20th Diamond Award win in the past five years; a significant demonstration of our ongoing commitment to our credit union partners,” said Doug MacDonald, Vice President of Synergent Marketing Services. “Our team works hard to be an extension of marketing teams at each credit union we serve. With three wins this year, including one Category’s Best in the Segmented Marketing category, we are so pleased to collaborate with and deliver award-winning work to our credit union partners. Congratulations to all the credit unions who were honored this year by receiving a CUNA Diamond Award!”
The Diamond Awards recognize and reward creative excellence and outstanding results in credit union marketing. Each year over the past five years, CUNA has received an average of 1,150 entries. From this, an average of 345 awards were given each year, resulting in about 30% of entries receiving awards.
Since 2018, the 20 Diamond Awards Synergent has received have spanned a variety of categories, including annual reports, onboarding, brand awareness, and membership marketing.
AUTO LOAN CAMPAIGN
Assets: $128,784,919 | Members: 10,208
2023 Category’s Best Diamond Award – Segmented Marketing
Franklin-Somerset Federal Credit Union wanted their members to “save big” on their auto loan rate. They partnered with Synergent’s award-winning Marketing Services team to produce a tailored, creative campaign that encouraged their loyal members to transfer an existing auto loan or open a new auto loan with the credit union. After digging into the member data, the target audience was set. The credit union then connected with members via complementing postcards and emails that included a limited-time offer to reduce current loan rates by 2%. The campaign was a great success: Not only did the eight-week campaign bring in 176 new auto loans during the campaign period—a 96% increase year-over-year—but it also was honored with a Category’s Best Diamond Award in the Segmented Marketing category.
AUTO & RECREATIONAL LOAN CAMPAIGN
Assets: $238,023,108 | Members: 15,308
2023 Diamond Award – Segmented Marketing
Auto and recreational vehicle loan dreams can come true! This was the goal that Bangor Federal Credit Union had in mind when they partnered with Synergent to launch a comprehensive targeted marketing campaign that encouraged existing members to either transfer an existing loan or open a new loan with the credit union. Analyzing member data, Synergent and Bangor FCU were able to determine the target audience. Using a mix of personalized, seasonally themed emails and postcards with enticing offers such as $250 cash back and a 2% rate reduction, the eight-week campaign brought in an incredible 513 new auto and recreational vehicle loans. This staggering 152% increase in loans opened during the same period in the prior year!
FUEL & EQUIPMENT LOAN CAMPAIGN
Assets: $105,519,902 | Members: 9,196
2023 Diamond Award – Segmented Marketing
Casco Federal Credit Union knew there was a lending niche that needed to be filled. Serving a small New England community with hot summers and very cold winters, their personal and business members alike required equipment such as lawn mowers, tractors, generators, log splitters, snow blowers, and plows. And with fuel costs soaring, assistance with home heating also was a need that the credit union knew they could assist their members with. They partnered with Synergent’s award-winning Marketing Services team to launch a fuel and equipment loan campaign uniquely designed to meet the needs of their members. Leveraging their data, they identified the audience most likely to benefit from an equipment and/or fuel loan and reached them with postcards and emails that provided a unique URL to apply online. This year’s campaign yielded a 52% increase in total fuel and equipment loan balances opened during the same period in the prior year!