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Datatrac Great Rate Award Case Study ‐ Consumer Loan The Company Alliant Credit Union is one of America’s largest credit unions with over $7 billion in assets. Formerly United Airlines Employees’ Credit Union, Alliant is headquartered in Chicago, Illinois, with 310 employees serving over 250,000 members nationwide. ®
Campaign Results $22.7 million in new loans closed within 3 months 577% ROI The Situation Alliant Credit Union has been leveraging Datatrac RateIntelligence® research since 2003 to benchmark their competitive pricing decisions. As a result, Alliant has positioned several of their deposit and loan products with significant rate advantages. “The Datatrac Great Rate Award campaigns In late 2009, Alliant was certified as a Datatrac Great Rate Award® winner in several categories objectively proved including: Auto Loan, Home Equity, Mortgages our competitiveness and Certificates of Deposit. The Datatrac Great resulting in a lift in Rate Award® became the basis of a series of our results and a marketing campaigns Alliant conducted throughout 2010. Alliant worked with Datatrac triple digit ROI.” Marketing Services to create several successful, Joe McGowean record breaking campaigns.
Vice President Marketing The Challenge In the aftermath of the 2008 financial collapse, consumers fled falling investment markets and sought the safety of their local financial institution. Consequently, Alliant Credit Union, like other banks and credit unions, found themselves swelled with deposits. In addition, the industry was experiencing a substantial decrease in consumer loan volume due to lack of consumer demand. Joe McGowean, Alliant Vice President Marketing, was tasked with developing a marketing strategy that would immediately and aggressively generate new quality loans. Datatrac Milwaukee, Wisconsin 800‐257‐7101 www.datatrac.net The Solution Alliant launched three campaigns with Datatrac during the 2009 holiday season featuring their competitive strength as identified by Datatrac research. “Our campaign with Datatrac generated $22 million in new loans during a time that is traditionally slow for us, greatly exceeding our expectations,“ explains Joe. “It’s not enough to claim that you have great rates or service”, says Joe, “You need to prove it. Datatrac Great Rate Awards provided the ‘Proof Points’ we needed to differentiate ourselves and prove that we are the best choice for our members.” Alliant used Datatrac as third party objective evidence that their rates outperformed the market and built several marketing campaigns around this concept. Continued on reverse Strategy & Tactics ‐ Three Steps 1. Analyze your competitors and yourself to establish a differentiated position Using Datatrac competitive intelligence, Datatrac and Alliant worked together to evaluate Alliant’s competition and determine which Alliant products outperformed the marketplace, thereby differentiating Alliant from its competition. Datatrac Great Rate Award Case Study ‐ Pg 2 2. Develop a clear, compelling value statement Datatrac and Alliant developed a series of graphs and messages to clearly illustrate that borrowers would save more money with a loan from Alliant. “Our members don’t have to shop for a better rate. We’ve got great rates and Datatrac proves it.” Joe McGowean Vice President Marketing 3. Leverage Multiple Channels Alliant saturated the market with their competitive message through multiple channels. Direct mail was the centerpiece supported by web promotions, email, press releases, newsletter, annual reports, member benefit statements and branch training for staff members. Campaign Results Alliant generated over $22.7 million in funded loans with a 557% ROI within 3 months. What Next Datatrac Great Rate Awards have become an integral component of Alliant’s marketing message and will continue to be a focal point of their campaigns in the foreseeable future. What are Datatrac Great Rate Awards®? Datatrac Great Rate Awards are a revolutionary new marketing solution for financial institutions. Datatrac Great Rate Awards certify that the interest rate on a financial institution's deposit or lending product has outperformed their local market average during a quarterly or annual period. www.greatrateawards.com. About Datatrac Datatrac solutions generate new loans, attract and retain deposits and increase margins for financial institutions. As a leader in the industry for over 20 years, Datatrac has helped thousands of clients make more effective pricing decisions and increase marketing ROI and effectiveness with our innovative marketing solutions and competitive intelligence. Datatrac is America’s largest, most accurate, unbiased database of deposit and loan rates, fees and specials for 90,000 financial institution locations nationwide. www.DatatracResearch.com. 800‐257‐7101 About Alliant Credit Union Alliant Credit Union, founded in 1935, is an independently operated financial cooperative serving over 140 employee groups with more than 250,000 members and over $7 billion in assets, making it the largest credit union in Illinois, and the seventh largest in the nation, based on asset size. As a member‐owned financial institution, Alliant exists to foster members' financial well‐being and to serve their best interests. Alliant is headquartered in Chicago, and is an Illinois‐
chartered credit union. 110103