Cause Marketing Brings in $10K for Suncoast CU Community and $2.6M in Car Loans
GreenProfit Solutions helps credit unions marry money and mission
Suncoast Credit Union, in partnership with GreenProfit Solutions, raised $10,000 for the Suncoast Credit Union Foundation to support children in the counties it serves through its Drive it Forward car loan promotion.
Every car financed through Suncoast CU’s TrueCar portal during the month of October 2021 generated a $50 contribution to its Foundation. Leveraging the power of Suncoast CU’s data-based marketing strategy, its cause-marketing campaign increased site visits by 217% and actual member leads by 176%.
In October, 213 sales were made, an annualized increase of 83%, despite unprecedented supply constraints and increased pricing, translating to a $10,650 Foundation donation. Additionally, Suncoast Credit Union earned an average of 48% of loans to sales, totaling approximately $2.6 million in new auto loans for Suncoast.
“We’re very pleased with the results of our campaign,” Britney Hansen, Suncoast CU’s Dealer Relations Director. “While we understand the challenging environment, it was wonderful to see how the portal helped many of our members find a vehicle, while also helping children in our communities. We sincerely appreciate GreenProfit Solutions for caring about our credit union and the communities that we serve.”
GreenProfit Solutions CEO Joe Winn added, “Our mission is to provide tools to help credit union leaders balance mission and profitability to financially empower credit unions’ communities. Suncoast Credit Union has been an incredible partner to work with and see our shared mission in action.”
The benefits to Suncoast CU don’t end there. The campaign generated 2,489 requests from members in the market for a car. According to industry analysts, between 33-50% are currently in wait-and-see mode due to constrained inventories and inflated pricing. Suncoast CU has the opportunity to reach out to each and every one of those leads to offer their car loans.
About GreenProfit Solutions
GreenProfit Solutions, Inc. (https://greenprofitsolutions.com/) is the market leader among credit unions for driving revenue while fulfilling the credit union mission. Through our cuZoom end-to-end car loan product suite and EconoCheck value-added checking accounts, GreenProfit Solutions serves many of the nation’s largest credit unions. Additionally, our Learning Library is the most comprehensive, unbiased source for educational information on products, operations and efficiency.
TrueCar (https://www.truecar.com/) is a leading automotive digital marketplace that enables auto buyers to connect to our nationwide network of Certified Dealers. We are building the industry's most personalized and efficient auto buying experience as we seek to bring more of the purchasing process online. Consumers who visit our marketplace will find a suite of vehicle discovery tools, price ratings and market context on new and used cars – all with a clear view of what's a great deal. When they are ready, TrueCar will enable them to connect with a local Certified Dealer who shares in our belief that truth, transparency and fairness are the foundation of a great auto buying experience. As part of our marketplace, TrueCar powers auto-buying programs for over 250 leading brands, including AARP, Sam's Club, Navy Federal Credit Union and American Express. TrueCar is headquartered in Santa Monica, California, with an office in Austin, Texas.
About Suncoast Credit Union
Suncoast Credit Union (https://www.suncoastcreditunion.com/) is the largest credit union in the state of Florida, the 10th largest in the United States based on membership, and the 10th largest in the United States based on its $14.9 billion in assets. Chartered in 1934 as Hillsborough County Teachers Credit Union, Suncoast Credit Union currently operates 75 full-service branches and serves more than one million members in 40 counties across Florida. As a community credit union, anyone who lives, works, attends school, or worships in Suncoast Credit Union’s service area is eligible for membership. In 2021, Suncoast Credit Union’s field of membership was expanded to include public K-12 teachers, college educators, and educational support staff from all of Florida’s 67 counties. Suncoast is passionate about community support. Since its founding in 1990, the Suncoast Credit Union Foundation has raised and donated more than $32 million to organizations and initiatives that support the health, education, and emotional well-being of children in the communities that the credit union serves.