First Service Credit Union Achieves Record Membership Growth
THE CHALLENGE
First Service Credit Union, with over a dozen branches, $1.4B+ in assets, and nearly 100,000 members, had long used P$YCLE® Premier segmentation through a Claritas partner. Seeking deeper insights and cleaner data, they chose to work with us directly. After running a focus group consisting of members who belong to their three core P$YCLE Premier LifeStage Groups, First Service Credit Union realized that many of their members didn’t even know they were members of the Credit Union. They had a serious brand awareness issue that needed to be addressed immediately.
SOLUTION
Leveraging insights from their annual P$YCLE Premier append, First Service Credit Union launched a series of ads centered around their tagline, Bank Like You Own The Place. Claritas delivered the campaign across email, social, display, and postal channels, boosting both brand awareness and new member acquisition. Running from August to November, the campaign achieved a 361% lift in advertising effectiveness and a cost per new member of just $30, as confirmed by a Claritas match back report.
Alongside the brand awareness and acquisition campaigns, First Service Credit Union partnered with Claritas on an ongoing auto refinance campaign, generating one million monthly impressions and 5,000 monthly clicks, on average. The campaigns drove the highest monthly new member growth in the credit union’s history, prompting their COO to co-present the success story with us at the Financial Brand Forum before nearly 100 industry professionals. We’re now exploring AI-driven campaign optimization.
THE CLARITAS EFFECT
$105 ROAS on a 3-month acquisition campaign
$7.8M+ in attributable deposits
1,500+ attributable refi’s for an auto campaign
INTELLIGENCE YOU CAN USE
Built for the financial services industry, P$YCLE Premier provides comprehensive consumer insights concerning financial wealth, insurance and investment products held, home value, technology behaviors, and media preferences.
Unexpected Roadblock:
The day before their campaigns were to deploy, First Service Credit Union’s digital ad platform suspended access to their ad-serving account. Claritas quickly pivoted, reallocating First Service Credit Union’s ad budget to focus on other channels, avoiding disruption to the campaign.
After more than a month of appeals and ultimately having to seek legal counsel, First Service Credit Union’s account was restored and Claritas added in the previously missing channels to the campaign mix.