Outcome
With these changes, AFCU has experienced significant growth in loan volumes, balances, new accounts and total assets. AFCU is on track to reach their 5-year goals.
Expertise
Senior Account Lead, Business Development, Research, Strategic Planning, Brand Positioning, Communications Planning
Background
Ascend Federal Credit Union is a leading credit union in the Middle Tennessee region, historically located in small, rural towns and cities. They came to us to help them enter the Nashville market to achieve their goals of doubling their asset size and number of members. My team and I conducted various primary and secondary research, data analysis, and strategic planning.
Strategic Insights
-
Research revealed that most people did not love their banks, however, the core values of the AFCU culture (community, family and integrity) resonated well among our target audience.
-
Another key insight was that AFCU’s real competition was not other credit unions, rather it was traditional and online banks.
-
We leveraged these insights to reintroduce the brand as being able to do everything that a bank could do, with a more personal touch.
Solution
Along with my team, we developed distinct strategies for increasing membership, loan volume, and deposits. We also featured AFCUs unique benefit of an end-of-the-year giveback based on the member’s annual activity with the credit union. These strategies included the development of an omnichannel media strategy that aimed to reach the audience at every touchpoint. In addition, we rebuilt their biggest branch—the website—to ensure a quality mobile and online experience.
Strategic Insights
-
Research revealed that most people did not love their banks, however, the core values of the AFCU culture (community, family and integrity) resonated well among our target audience.
-
Another key insight was that AFCU’s real competition was not other credit unions, rather it was traditional and online banks.
-
We leveraged these insights to reintroduce the brand as being able to do everything that a bank could do, with a more personal touch.
Solution
Along with my team, we developed distinct strategies for increasing membership, loan volume, and deposits. We also featured AFCUs unique benefit of an end-of-the-year giveback based on the member’s annual activity with the credit union. These strategies included the development of an omnichannel media strategy that aimed to reach the audience at every touchpoint. In addition, we rebuilt their biggest branch—the website—to ensure a quality mobile and online experience.