Kane county teacher credit union

If you think credit union marketing is a field of growing activity and quality, you need only look at the entries for the Diamond Awards 2000 to confirm your hunch. Sponsored by the CUNA Marketing Council, this year's competition brought in 940 entries, 13% more than last year's entry count, which was up 22% from 1998.

"It's growing, and that's great," notes lead judge Mary Olson, vice president of marketing and training at Delta Employees Credit Union, Atlanta. "And most credit unions are sending in quality entries."

The judges were especially struck by the caliber of entries from small and midsized credit unions this year. "What they're entering is so far above what they used to do," Olson says. "Even if they didn't win awards, they're greatly improving. They've reached another level."

Choosing 64 Diamond Awards winners from 940 entries in just two days of judging was no small feat. In addition, the judges selected 141 Awards of Merit. "We were a well-oiled team," Olson says. "We brought different perspectives to the judging." Joining Olson as judges were Sue Racine, director of association and exhibit marketing, CUNA Mutual Group, Madison, Wis.; Mark Condon, senior vice president of association services, CUNA & Affiliates, Madison; and Joye Cox, vice president of marketing, SAFE Federal Credit Union, Sumter, S.C.

Judging criteria included:

Strategy. What was the strategy behind the entry? Did the strategy make sense given the credit union's marketplace position and competition?

Creative concept. How did the creative concept position its offer to its target audience? Was the concept consistent with the strategy and objectives? How well did verbal and visual messages communicate? Were the ideas fresh or time-worn?

Design and production. How effective were the design elements? Or, for a broadcast entry, how effectively did the entry use talent, visuals, and sound? Did the design enhance the idea? Was there attention to the "fit and finish" of the final product? Was the piece of high technical quality?

Copy and communication. Was the writing effective in selling the idea? Were products clearly stated?

Results (when required). How did the entry do, given its objective, budget, and strategy? Did the idea behind the entry produce the intended results?

Awards were broken down by asset category and into agency and nonagency awards. The latter gives special recognition to those who create their marketing in-house. Whatever the source of the work, the judges scrutinized results, when applicable (not all award categories require results to be reported, e.g. annual reports).

People might question the appearance of some of the winning entries, wondering why those entries won, says Olson. "But if you look at the results, they're superior for what was done. And when resuits didn't enter in, we looked at the strategy, the objective. What were they trying to accomplish?

"I think some people still have to figure out that this competition isn't a beauty pageant," Olson adds. "It's hard for a marketing person not to want to make things pretty. I've been there, too, so I understand. But at some point you have to ask, What is the real purpose of this piece?"

(Space permits us to publish only Diamond Awards winners. In addition, the CUNA Marketing Council gave out 141 Awards of Merit, Visit the Marketing Council section of CUNA's Web site www.cuna.org for a complete list.)

NEW BEST PRACTICES CATEGORIES

BEST PRACTICES

New to CUNA Marketing Council's awards this year is Best Practices, honoring marketing professionals for projects resulting in improved efficiencies, procedures, or promotional opportunities. Judges were Roy MacKinnon, vice president of marketing, First Entertainment Credit Union, Hollywood, Calif.; Doreen Kelsey, owner of Byrchaven Marketing Group, Spokane, Wash.; Mike Chapman, marketing manager, King County Credit Union, Seattle; and Cathy Henry, marketing director, Northwest Telco Credit Union, Everett, Wash. The winners are:

BUSINESS DEVELOPMENT: KANE COUNTY TEACHERS CU

With a new community charter, Kane County Teachers Credit Union, Elgin, Ill., faced the challenge of maintaining ties to the group long at the heart of its membership: educators. Marketing Director Kristine Kowalski and staff struck on the idea of hosting a special event for educators only. At a half day computer fair, vendors displayed computers and offered reduced prices. Credit union lending staff were there to take applications for loans carrying a maximum 6.5% rate, but as low as 5.99% for members with direct deposit.

Event costs were $286, with about 100 people attending. The credit union gained 34 computer loans, totaling $63,117. Also, area school districts invited the credit union to take a more active role in last fall's new-teacher orientations.

MARKETING CUSTOMER INFORMATION FILE (MCIF) STRATEGIES: RESOURCE ONE FCU

At Resource One Federal Credit Union, Dallas, vehicle loans make up two-thirds of total loans; the average life of a vehicle loan is 27 months. When members repay, refinance, or trade in, the credit union wants them to return as borrowers. Toward that end, Rob Poyner, assistant vice president of marketing/business development, and staff launched a letter campaign using MCIF data. Borrowers receive letters at their two-year anniversary, thanking them for their business and reminding them of Resource One Federal as an excellent vehicle loan source. More letters follow at six-month intervals, until the 48month mark, reminding members to look to the credit union for replacement vehicle loans.

In 1999, the credit union sent 3,981 letters in 11 months and booked 500 vehicle loans totaling $6.6 million. The return on marketing investment was 4,042.8%-for just the first 12 months of new loans.

SALES/INCENTIVES: WOOD PRODUCTS CU

In early 1999, Wood Products Credit Union, Eugene, Ore., saw its services-per-member rate falling. Analysis of pricing strategies and competitors allowed Vice President of Marketing Kent White and staff to create a new, complex pricing structure. The challenge was to make it user-friendly for frontline staff. The answer: RateQnoter software developed in-house. Using the software, staff simply select a product a member is interested in and quote a rate based on how many account relationships the member has. Members get more attractive rates, and staff can calculate those rates easily.

In 1999, Wood Products Credit Union opened three times as many services with new accounts as they had in 1998. Net loan growth was nearly 20%, and services per member climbed by almost 25%.

NAME CHANGE/ BRANDING: ATLANTIC CU

In surveys, members gave high senrice ratings to Atlantic Employees Federal Credit Union, Newton Square, Pa. Name recognition and recall was another matter, among both members and nonmembers, says Gary Zenker, the credit union's vice president of marketing. The name linked to the founding select employee group (SEG), Atlantic Richfield Refinery. But it had little meaning to many members from today's 187 SEGs, or potential new SEGs. In December 1999, the credit union shortened its name to Atlantic Credit Union, timed with a conversion to a state charter. Coupled with the name change was a two-year campaign to build brand awareness, including updating the logo and integrating it more consistently in marketing materials.

Atlantic Credit Union now enjoys enhanced recognition. New account openings grew 35% last year from the previous year. Loan and deposit balances each climbed more than 10%, and 35 new companies signed up as SEGs, bringing 8,000 potential members.

BEST OF COMPETITION

Credit union: Community CU, Plano, Texas

Category: Outdoor

Title: Community CU outdoor advertising

BEST USE OF ART

Credit union: OSU FCU, Corvallis, Ore.

Category: Plastic access card design

Title: Debit and ATM card design

BEST USE OF HUMOR

Credit union: Schools Financial CU, Sacramento, Calif.

Category: Radio

Title: Student promotion

BEST ASSOCIATION ENTRY

Association: Virginia CU League

Category: Credit union association marketing/public relations

Title: Credit union license plate

BUSINESS DEVELOPMENT PROFESSIONAL OF THE YEAR: LYNN MOHLER

When DyAnn Longseth heard about CUNA Marketing Council's new Business Development Professional of the Year award, she knew immediately whom to nominate-Lynn Mohler, business development coordinator at John Deere Community Credit Union, Waterloo, Iowa. "Lynn has turned our program around," says Longseth, John Deere Community's vice president of marketing.

Mohler has been business development coordinator for five years. Responsible for maintaining healthy relationships with 125 select employee groups (SEGs), plus reaching out to new SEGs, Mohler has gained a reputation for her dedication and enthusiasm.