FirstPoint’s’ Kathy Entwistle Leads Equifax Effort in Developing Deposit Growth Campaign.
Freedom First Credit Union (Freedom First) wanted to quickly improve liquidity by bringing in new deposits. The marketing team had used a variety of channels and prospect lists, but did not have a way to quickly identify and reach prospective households that were likely to qualify for its upcoming deposit promotion. Freedom First leveraged Equifax email list services segmented by household-level total deposit estimates to identify and reach prospective members with significant deposit potential. Launching an aggressive CD and money market campaign via email to high-potential households enabled Freedom First to achieve its goal. The organization gathered $32 million in new member deposits, plus an incremental $19 million from current members and exceeded the prior year’s efforts by 1000%.