$146M Coastline FCU Doubles Monthly Lending in One Quarter
And grows membership with strategic marketing help from Your Marketing Co.
Coastline Federal Credit Union never had a single person focused on marketing; the responsibility was spread among several people with no one truly owning it – nor the results. Adding Your Marketing Co. into the mix has created that focus, simplified operations and delivered strong results.
“Having a dedicated, consistent marketing plan has been the key to our success,” Coastline FCU President/CEO Michael Lebanowski explained. “It’s been nice and refreshing to not have to scramble to come up with campaign ideas every month or so.”
Susan Stanton, Administration Director for Coastline FCU, added, “Delaney Walker, [Your Marketing Co. Marketing Strategist] is easy to work with. Her team brings ideas and really collaborates with us to ensure our best possible outcome.”
The results following the credit union’s partnership with Your Marketing Co. have been remarkable. In December, Coastline FCU was making about $750,000 a month in new loans. Each month that figure has jumped through March, when the credit union made $1.4 million in loans – nearly double the loans it had been making just a few months prior. The goal had been to hit $1.3 million in loans per month by the end of the year!
The credit union has been running a variety of marketing campaigns aligned with its brand, not just for loans. For example, in April Coastline FCU promoted Swipe to Win in which the credit union paid for five card swipes up to $50 in face value per member. Another program, Hit the Gas, Get the Cash, featured $100 to borrowers for a car loan of at least $10,000, and another $100 if the member added direct deposit and a checking account within 30 days of the loan. Coastline FCU grew members by 2.18% as of March 2023 compared to negative membership growth at the same time in 2022.
“There are many people out there saying that a $146 million credit union is no longer viable. Coastline is a prime example of how wrong those so-called experts are,” Your Marketing Co. President/CEO Bo McDonald said. “Smaller credit unions have options other than merger. Strategic planning, branding and marketing, plus a little elbow grease, can help credit unions survive and thrive to uniquely serve their individual memberships for years to come.”
Your Marketing Co., is a full-service strategic planning, branding and marketing firm serving credit unions that are not content with the status quo. Since 2008, YMC has helped dozens of credit unions grow their potential through strategy, execution and accountability. And we give a damn!