This promotion shows how a dash of product innovation along with attention-getting marketing can make an ordinary rate-based promotion extraordinarily effective. It also had an interesting halo effect.

While the promotion exceeded the credit union’s goals in the target product, the credit union also saw increases in other loans (auto loans, home equity, motorcycle, etc.) during the promotion. It seemed as though the product-specific promotion helped position the credit union as the lenders of choice for other loans as well.

For Robins Federal, a promotion involving “Rowdy Rates” has become a yearly tradition in the area -- members actually look forward to a different rate-based auto loan promotion every year. For this promotion, we decided to focus on refinancing rather than purchase loans. After all, members can refinance any time, but they only purchase vehicles once every three to five years. Following a period of rate drops, Robins Federal was also well-positioned to be very competitive with refinance rates.

The smiling guy with the shaved head was an appealing way to get attention with an unusual image and a clean, uncluttered look. This promotion included billboards, radio commercials, POS materials, newspaper ads, movie theater ads, and statement envelopes.