Right Tool Campaign

Collateral & POS / Promotions / Specialty

This promotion was a winner at MAC, CUNA and CUES in 2015.


Like the rest of the credit union industry, CommonWealth Central saw its 2nd trust deed portfolio decline from 2008 through 2013. But being situated in Santa Clara County, one of the nation’s leading economic growth areas with rising home values, CommonWealth decided to make an aggressive move in reversing the decline. Making this challenge all the more difficult was the fact CommonWealth was competing not only with major banks, but also some of the nation’s largest credit unions.


The promotional offer was 1.99% APR for the first 12-months and then 4.00% APR thereafter on loans from $10,000 to $500,000 and amortization of up to 20 years. Based on the fact home sales were heating and that homeowners were likely in an improvement mindset, the agency used a strong home improvement message centered around the most common home improvement done by an individual: home painting. To emphasize this message, CCCU employed imagery of painting and point-of-sale materials that graphically depicted paint flowing out of a can. The paint cans used colored foam latex and appeared suspended in mid-air as they poured paint on the counter surface. Besides the dramatic point-of-sale, the agency used a mix of direct mail, digital and print.


This became the most successful marketing campaign for total dollar volume generated in the Credit Union’s history. The 2nd trust deed loans granted volume jumped from $12.4 million in 2013 to $30.2 million in 2014. The NCUA Call Report data shows that CommonWealth was one of just 7 of the county’s 14 credit unions that increased its HELOC loans granted year-to-date in September 2014. CommonWealth had the highest growth rate in the number of HELOC’s granted during that time. This growth rate was effectively double that of the next fastest growing credit union in Santa Clara county. This promotion was a 2015 CUNA Diamond Award winner and judged a winner for the 2015 MAC Annual Conference.