Nutmeg

Shaking up an industry to rise above a wall of sameness...and safety.

 

Overview

Nutmeg State Financial Credit Union, headquartered out of Rocky Hill, CT with 11 locations, is one of the largest credit unions in the state. Increasing membership was a top priority. Part of the challenge was educating a younger demographic on, not only the benefits of a credit union, but what a credit union actually is. The best solution was to make a big splash.

 
 

Our Approach

Over a decade ago, Nutmeg State Financial Credit Union called with a unique request. "We need to take a risk in our industry in order to gain some traction". As this was our first foray into the credit union industry, we needed to understand the space. It was immediately evident that the younger generation were not aware they could even join a credit union. That moniker was a bit of a mystery. Banks had all the marketing dollars to attract new customers. The question then becomes, "how do we compete with other credit unions, but MORE importantly – big banks?" 

The answer was simple. Break the mold. "Infotainment" as we call it. Educate this targeted segment with outrageous, never-would-a-bank-dare-go-there, creative that people actually tuned in to watch.

We started with a rebrand and a new slogan, "Banking awesome." This was the most efficient way to educate the masses on what a credit union is. We even purchased the url, bankingawesome.com.

We built a new user-friendly, website that could deliver our messaging and direct potential new members more easily to the product they'd been targeted with. Between traditional methods like billboards and print advertising, we also targeted them with digital display and pre roll on youtube. 

It all proved effective. Membership went up right away. Trade publications wrote case studies and interviewed Nutmeg's marketing team on their campaigns. To cap it off, these same campaigns won multiple industry awards. 

 
highlight

From playful "Banking Thoughts" video shorts, to CEO John Holt's everyman commercials, no-nonsense billboards, to a full website redesign and development, and everything in between, Banking Awesome reinvigorated Nutmeg's positioning and streamlined their messaging to speak to younger demos.

The results are in

In March and April of 2020 during Covid, we ran display campaigns for HELOC, Credit Card, Balance Transfer, and COVID Loan products.

impact

1.1 M

Impressions Served

.26%

CTR above .10% benchmark

1,027

Conversions

 
Banking Awesome campaign has generated a growth in assets, accounts, average assets per member, and has reduced Nutmeg’s average incoming member age from 43 to 35 years, (industry average is 48.5), without losing older members.
 

Want to get in touch? 

 

 

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