Editorial Perspective: Credit Union Teams with PSCU`s Advisors

EditorialPerspective:
CreditUnionTeamswithPSCU’sAdvisorsPlus
ConsultantstoGrowCreditCardBalances
EditorialPerspective:
CreditUnionTeamswithPSCU’sAdvisorsPlus
ConsultantstoGrowCreditCardBalances
CreditUnionTeamswithPSCU’sAdvisorsPlus®Consultants
toGrowCreditCardBalances
byTomChandler
ThisarticleoriginallyappearedonCUInsight.comonMarch23,2016
andisreprintedinitsentiretyhere.
HAPOCommunityCreditUnion,basedinRichland,Washington,understandstheimpactwhenits
membersreachfortheirHAPOcreditcardfirst.Capturingthecovetedtop-of-walletpositionisan
essentialstrategytosuccessfullycompetingwithlargernationalissuersthathavesimilardesignson
consumers’paymentpreferences.
OutstandingsGrowbyaWhopping$18MM
IncollaborationwithPSCU’sAdvisorsPlusMarketingServices,the$1.3billionHAPO—theacronym
standsforHanfordAtomicProductsOperationsandharksbacktoHanford’soriginsasaManhattan
Projectnuclearsite—grewitscreditcardoutstandingsbyawhopping$18millionoverthecourseof
severalbalancetransfercampaignsin2015.ThegrowthinHAPO’sportfoliorepresentedayear-overyear20.69percentincreaseinthecreditunion’screditcardoutstandingbalances.
Topromotethetop-of-walletposition,HAPOassembledatop-notchmarketingteamandcreatedan
internalsalesculturetogenerateresults.Tooptimizethegrowthofitscreditcardbusiness,HAPO
workedwithAdvisorsPlus,PSCU’sindependentstrategicconsultingunit,todevelopbalancetransfer
campaignsthatwouldsteadilyelevateitscreditcardbusinessandgetmemberstochoosetheirHAPO
creditcardaboveanyothers.
Multi-ChannelEffortsBringinOver$13Million
Thecampaignsofferedreducedinterestratesonbalancetransfersfor9to12monthsthatresultedin
over3,400balancetransferstotalingmorethan$13million.Whilealargeportionofthattotal(about$4
million)wasattributedtodirectmailcampaigns,themajorityofthetransfersweredriventhroughother
saleschannels,includingoutboundcallsandemailsfromHAPOemployees.
“Wehavebuiltanamazingsalescultureandweincentivizethestaff,”saidJeniferGateley,Vice
PresidentofCardServicesforHAPOCommunityCreditUnion.“WeareprovidedcalllistsfromAdvisors
PlusandweusethemtoinformourmemberprospectsofourgreatBTrateandtoencouragethemto
utilizetheircurrentavailability.IlikethefactthatwehavearelationshipwithAdvisorsPlus,”said
Gateley.“Thethreecampaignsweconductayearareverybeneficialtous.”
AnalyticsMaketheDifference
Whilemanycreditunionshavesignificantmarketingresources,AdvisorsPlusprovidesthestrategic
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EditorialPerspective:
CreditUnionTeamswithPSCU’sAdvisorsPlus
ConsultantstoGrowCreditCardBalances
focusandanalyticstotaketimelyadvantageofspecificgrowthopportunities.Usingtheexpertisethat
comesfromhundredsofmarketingcampaignsforcreditunionsofallsizes,AdvisorsPlusprovidesdatadriven,measurablemarketingcampaignmaterialsthathavebeenproventogenerateresults
consistentlyaboveindustryaverages.
AdvisorsPlusworkswithhundredsofcreditunionseveryyeartohelpthemgrowtheircardportfolios
intotop-of-walletbusinesses.Thiscreatespowerfulsourcesofvalueandloyaltyforthecreditunions’
membersandcontributessignificantlytoannualearnings,oftenasmuchas30percent.
TheexpertisethatAdvisorsPlushasdevelopedhascertainlybeenbeneficialtoHAPO:“Wehaveateam
thatworksonmarketingeveryproductwehaveforour16branches.Weenjoyworkingwiththecredit
cardexpertsandappreciatetheknowledgeofwhatworksintheindustry,”saidGateley.“Theanalytical
dataafterthecampaignandface-to-facemarketreviewwereceivedwereremarkable.”
NextGoal:NewAccountAcquisition
AlthoughthefocusofHAPO’scampaignswastogrowcreditcardbalancesthroughbalancetransfers,a
significantsecondarybenefitwasthecreationofhundredsofnewaccounts.“Ourgoalslastyearwere
increasingbalancetransfersandgrowingourportfolio,”saidGateley.Thefactthatwewereableto
bringinsomanynewaccountswasafantasticbonus.In2016,wewillfocusmoreonnewaccount
acquisition.”
Thesepromotionshavecontinuedtoproduceincreasedbalancetransfersandbalancegrowthduring
thepost-campaignperiod.“WedoeverythingwecantopiggybackoffofwhatAdvisorsPlusgivestous,”
saidGateley.“IappreciatethemarketingeffortsfromAdvisorsPlusandtheirabilitytotrackcampaign
datathatallowsustodobetternexttime.”
ForMoreInformation
ArnieGoldberg
Director,BusinessDevelopment
727.299.2535
813.316.8036mobile
[email protected]
OR
YourPSCUAccountExecutive
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EditorialPerspective:
CreditUnionTeamswithPSCU’sAdvisorsPlus
ConsultantstoGrowCreditCardBalances
AboutAdvisorsPlus
AdvisorsPlusservesastheconsultingarmofPSCU,helpingcreditunionstomeettheirfinancialand
businesschallengesandgrow.Theteamprovidespractical,data-drivenexpertiseintheareasof
businessstrategy,creditcards,debitandchecking,marketinggrowthcampaigns,digitalandbranch
channelengagement,andcontactcenterandoperationsoptimization.
Withover250yearsofcombinedexperience,AdvisorsPlusconsultantspartnerwithcreditunion
managementtoprovideactionablesolutionsforsustainablebusinessgrowth,exceptionalmember
experiencesandmeasurableoperationalefficiencies.Formoreinformation,visitAdvisorsPlus.com.
AboutPSCU
AdvisorsPlusisanindependentbusinessunitofPSCU,thenation’sleadingcreditunionservice
organization(CUSO).Foundedin1977,PSCUisownedbyover800Member-Ownercreditunions
representing18.5millioncredit,debit,prepaid,onlinebillpayment,mobileandelectronicbanking
accounts.24/7/365membersupportisdeliveredthroughcallcenterslocatedthroughouttheUnited
Statesthathandlemorethan18millioninquiriesayear.Formoreinformation,visitPSCU.com.
©2016.AdvisorsPlus.Allrightsreserved.
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