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Synergent, your League’s service subsidiary, is pleased to announce that two marketing campaigns created for Merrimack Valley Credit Union (CU) and Bangor Federal Credit Union (FCU) received 2019 MAC Awards. The Marketing Association of Credit Unions (MAC) Awards recognize successful credit union marketing in 21 distinct and varying categories including these two winning campaigns, in the Market Segment Program category. Merrimack Valley CU’s campaign received a Silver Award for its “Cool Winter Auto Loans Postcard and Email Campaign” and Bangor FCU’s entry received a Bronze Award for its “Auto Loan Postcard” promotion.
Bangor FCU turned to Synergent with the goal of increasing their auto loan portfolio by 7%. Synergent’s strategy provided a consistent approach to recapture opportunities across the credit union’s lending portfolio. Synergent leveraged promotional tactics that marketed reduced rates and cash back incentives and a simple online application. As a result, Bangor FCU exceeded its marketing goal by 829% and generated $929,147 in new auto lending with their return on their investment equaling $36 in interest income for every dollar spent on the campaign.
“We had been doing an auto loan recapture program for a few years with another vendor and although the results were adequate, there was always something in the program that was missing,” said Tina Morrill, Director of Marketing for Bangor FCU and member of the CUNA Marketing & Business Development Council Executive Committee. “After learning about Synergent’s platform and the expanse of the data mining involved, as well as their collaborative nature, and design ideas, the decision to switch was an easy one. Synergent is just what we needed to take our campaign to the next level and because of this, we were able to solidify a CUNA Diamond Award and a MAC Award in the same year – what an honor!”
Using data mining and creative marketing, Synergent focuses on producing exceptional, targeted campaigns that obtain bottom line results. Because Synergent does all of its work under one roof, Synergent prepares integrated campaigns, like those recognized by the Marketing Association of Credit Unions, that help credit unions effectively communicate with their members through mobile, print, email, and promotional items.
“Synergent works to develop winning strategies, creative designs, and data-driven campaigns that propel credit unions into the spotlight,” said Doug MacDonald, Vice President of Synergent Marketing Services. “This winning combination helps credit unions achieve strong results and ROI, proven through analytics and metric reporting. We are thrilled Merrimack Valley CU and Bangor FCU have been recognized with these prestigious MAC awards and pleased to have played our roles in these successes.”