Customer Success Story

Checking Product Volume in the Wake of Declining Consumer Loans

How O Bee Credit Union’s Checking Product Outreach Campaign Achieved a 699% ROI with MeridianLink® Engage

Headquarters: Lacey, WA
Branch locations: 7
Members: 35,000+

The Challenge

Mitigating Declining Loan Volume By Increasing Deposits

O Bee Credit Union (O Bee) has been serving members in Washington State since 1955, providing checking and savings account services in addition to a range of loan products. Recent economic shifts, however, had caused a dip in the volume of consumer loans—specifically auto loans—that staff were servicing. To recoup this revenue and maintain financial stability, O Bee decided to focus on strategically growing deposits through targeted outreach campaigns and needed a solution to help them do so.

MeridianLink Engage has helped us rethink our approach to member engagement. We achieved impressive results with personalized campaigns, driving growth in checking accounts and enhancing member loyalty. This is key in adapting to the evolving banking landscape.

Lee Wojnar

Chief Marketing Officer,

O Bee Credit Union

The Solution

MeridianLink® Engage

MeridianLink Engage helped O Bee develop a custom, targeted marketing campaign quickly and with minimal lift using data-driven logic and automations to maximize consumer engagement.

Why O Bee Credit Union Chose MeridianLink Engage

Ability to focus on specific audience segments with advanced targeting logic.

Recommended actions & real-time impact tracking with data-driven insights.

Fully customizable campaigns to fit unique marketing goals and budgets.

The Results

A Targeted Deposit Campaign With A 699% ROI

O Bee’s outreach campaign needed to deliver on three goals: 

  1. Encouraging existing members without consumer checking accounts to open one 
  2. Incentivizing those members to perform 15 or more point-of-sale transactions from those accounts during a specified period 
  3. Solidifying these newly deepened relationships with a prompt to initiate direct deposits of $100 or more to those accounts within the campaign period 

Members who met those goals received a $200 cashback incentive and, to maximize engagement, members who did not meet the transaction threshold still received a $25 cashback reward to acknowledge their participation. 

MeridianLink Engage’s targeting logic assisted staff in creating an outreach segment: 

  1. Member’s whose primary relationships were with active savings, CD or loan accounts 
  2. Those accounts opened more than three months prior  
  3. Members who did not have a consumer checking account 

From there, staff used MeridianLink Engage’s campaign automation and customization features to quickly launch a three-month multichannel campaign targeting this member segment. 

The Results: 

  1. A 699% ROI 
  2. 4% of the target audience qualifying and obtaining new consumer products 
  3. 1.5% of the total segment opened a new checking account  

At a cost of approximately $3,364, this strategy not only succeeded in growing consumer checking products but also ensured that the credit union kept within the desired budget to achieve this growth. 

To learn more about how to Engage can help personalized campaigns and communications, watch the webinar on demand or contact us today. 

Driving Growth Through Personalized Campaigns

O Bee’s Credit Union Achieved Impressive Results with MeridianLink Engage