OBJECTIVE: Make tactical and strategic decisions with confidence using objective data

"When Elevations Credit Union signed-up as an RFG partner client, our expectations where high. RFG did not disappoint. RFG has gone above and beyond the deliverables of our agreement. Our access to RFG's customer service and support staff is extraordinary and I can't say enough about the value our strategic advisor, Pam Silverman, brings to our credit union. We push the limits of our vendors for execution, and RFG has answered the call every step of the way." Rich Jones, Vice President of Marketing, Elevations Credit Union.

Elevations Credit Union uses iNTEGRATOR as an executive research tool for making decisions. Before iNTEGRATOR, Elevation’s Primary MCIF Operator spent 80% of his time focusing on tactical marketing communications and 20% on strategic marketing. Now, with the addition of iNTEGRATOR, Elevations Credit Union has been able to automate marketing campaigns using iNTEGRATOR's advanced campaign management functionality, reducing the time spent on marketing communications and giving Elevations the opportunity to reallocate 80% of their Primary MCIF Operator’s time on data analysis to identify new opportunities.

The example below is one way Elevations Credit Union used iNTEGRATOR to set direction for future loan business.

Example 1:
Elevations Credit Union sold their mortgage servicing to a third party vendor. They had anecdotal evidence that members were dissatisfied with the transfer of servicing. The CEO wanted to know if the credit union was losing relationships and loyalty.

The marketing department was given the task of analyzing the affected members. iNTEGRATOR was used to evaluate the member relationships before and after the conversion, looking at household attrition, product attrition, change in services per household, change in balances and checking activity. They appended credit bureau information and examined what loans members had with other lenders.

Their conclusion was that they didn't lose households or deposit business, but lost loyalty for loans. This analysis will give the credit union direction for regaining loan loyalty with this group of members. “This analysis would not have been possible without iNTEGRATOR.” adds Rich.

A second example shows how Elevations Credit Union used iNTEGRATOR to create a branch expansion plan and analyze the impact the new branch had on member growth.

Example 2:
Elevations Credit Union opened a new branch recently. They used iNTEGRATOR to analyze the relationship and behavior of existing members in the new market area. They used this information to structure mailings to non-members in the new branch footprint to acquire new households.

Results
Elevations Credit Union had a 7% response rate for mailings to members (measured in new account openings) and 2.5% response rate in new account acquisition from non-member mailings. Now, one year later they are able, using iNTEGRATOR, to see the real impact this new branch has had on member growth in this branch market area.

"iNTEGRATOR is not just a marketing tool, it's a strategic planning tool that provides the objective data allowing the credit union to set direction. Eighty percent of our time using this extremely flexible application is spent on data analysis, giving our Board, CEO and Senior Leadership a unique organizational tool that helps us make strategic decisions with confidence and keeps us going down the right course." Rich Jones, Vice President of Marketing, Elevations Credit Union.

At RFG we take pride in providing research-based solutions that are effective and easily implemented. We are dedicated to exceeding our client’s expectations and ensuring that they receive value from their relationship with RFG.

Since 1983, Raddon Financial Group (RFG) has provided primary research and marketing solutions to the financial services industry. Headquartered in Lombard, IL, RFG provides research solutions to over 1,000 financial institutions nationwide.