Northwest Savings Back - Direct Mail Design Mockup

The Situation

A Pennsylvania commercial bank entered the Florida market with aggressive growth goals for its first year.


The Challenge

The bank had a limited understanding of the Florida market and no name recognition.


The Solution

Electrum analyzed the market demographics and current rate offerings.  From that, we created a promotional CD offer to get people in the door and set goals for cross selling additional products – specifically consumer loans.  We also provided training and call guides for the bankers.  Once everything was in place, we launched a nine-week direct mail campaign to blitz the geographic area.


The Results

The bank exceeded its goal of $6 million in deposits by 66% (total $10 million) and $2 million in loans/lines by 10% ($2.2 million).