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 deposits goal by 333% and its loans/lines goal by 300%.