Credit Union Plus is one of Ireland’s largest and most progressive credit unions, proudly serving members across Navan, Ballivor, Clonmellon, Dunshaughlin and Ballyjamesduff.
With over €270 million in assets and a growing loan book exceeding €100 million, Credit Union Plus is committed to providing exceptional financial services while maintaining a strong community focus. Their continued investment in technology and innovation reflects a forward-thinking approach to member service and sustainable growth.
Credit Union Plus wanted to increase membership and loan transactions within its common bond in an efficient, cost-effective manner.
Using their research from a report created on Holmes, they observed a significant percentage of non-members within their common bond compared to the percentage of members.
High mailing costs made it challenging to target both current and potential members, particularly those who did not use social media.
Behind the scenes, the team were unsure what demographics made up the majority of their membership, increasing the challenge to market the credit union’s full potential.
Credit Union Plus needed to find the right solution so they could effectively increase their membership without needing a significantly large budget.
Holmes allows users to analyse their common bond at a small area level and create highly focused mailing campaigns.
Holmes worked alongside Stephen Doyle MSc, Chartered Banker, SIA, QFA, Head of Business Development, Marketing and Sales in Credit Union Plus to create a report to analyse the status of their current membership within their common bond.
They identified areas and demographics where performance was weakest. A targeted mailing campaign was created using the Holmes campaign builder to reach those specific demographics and areas.
From start to finish, the insights gained assisted Credit Union Plus in simplifying their campaigns, minimising wasted effort, and improving their marketing ROI. The user-friendly platform made it easy to adjust strategies to assist their members’ needs.
In the months of April and May, they gained 15 new members. Additionally, 45 loans worth €272,889 were issued. With the original cost of the campaign being €2,268, their estimated income is €69,510 (before accounting for early repayments or defaults). That’s a return of over 30 times the campaign cost, meaning for every €1 spent on the campaign, roughly €30.65 in interest income could be earned over the life of the loans.
Holmes has proven its worth, and it is extremely powerful at helping credit unions increase their membership and loan transactions through effective targeted marketing.
