The Challenge
Despite being Maryland's largest, SECU encounters the same challenge facing many credit unions: people don't readily associate them with traditional banking services—like checking accounts. When SECU shared their ambitious goal to drive new checking accounts, we knew relying on existing members wouldn't be enough. We'd need to reach new audiences, particularly a younger demographic, often totally unfamiliar with credit unions. Add the panic-inducing prospect of switching checking accounts, and we had our work cut out for us. Just the way we like it.
Our Solution
We could have focused on the $250 SECU was giving to anyone who opened a new checking account, but we didn't. Instead, Coven built a campaign around the joy of having a little extra money to spend freely. Why? Because the value of a cash offer is relative, and with such a broad audience, we needed something more universally appealing than dollars and cents.
Coven created a series of micro-stories that were vibrant, lighthearted and felt incredibly personal—something a cash incentive couldn't achieve. We hit on hobbies, pets, friendship and even trips to see mom. The stories translated seamlessly across paid media and SECU's owned channels, allowing us to test a range of creative and optimize towards the highest converting storylines.
Double Duty CTA
Remember that disconnect between credit unions and banking services? We solved for that too. Education would require time we didn't have, but associating SECU with banking services felt imperative. We landed on Spend Freely, Bank Happily as our campaign CTA, activating audiences while effectively bridging the credit union knowledge gap.
Results
new checking accounts in under seven months
Primary Tactics
OTT
OOH
Digital Video
Streaming Audio
Direct Mail
Paid Social
Display
Landing Page
Emails
