Texoma Community Credit Union
Generate $1,000,000 in CD Deposits
Texoma Community Credit Union (TCCU) printed 5,000 Postcards advertising a great interest rate on CDs, 2,400 of which they mailed to a list of homeowner-investors that they had purchased. TCCU then mailed an additional 1,000 to their top depositors and handed the rest out in two credit union lobbies.
Campaign Results Results:
During one month, the postcard campaign brought in $5.3 million in CD deposits, surpassing their $1,000,000 goal by well over 400%.
Including postage, TCCU spent $1,280 on the promotion.
TCCU’s postcard promotion generated 198 CDs, totaling $5.31 million, with an average CD balance of $26,816. They use the difference between the interest they earn (on auto loans, for example) and the interest they pay out on CDs to calculate their income. In this case, the business the postcard brought in generates $9336 per month in net income to the credit union, which calculates out to a 12-month ROI of over 8000% or 80 times what they spent.