Entry Name
Harborstone BreakFree Checking
CUES Member
Yes
Asset Division
Greater than $1 billion
Contact Information
Contact Name
Michelle Foster
Credit Union
Harborstone Credit Union
Telephone
(253) 589-8004
[email protected]
Award Information
Credit Union
Harborstone Credit Union
Award Shipping Information
Name
Michelle Foster
Credit Union
Harborstone Credit Union
Address
P.O. Box 4207
City, State ZIP
Tacoma, WA 98438-0207
Telephone
(253) 589-8004
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Total Direct Costs: $3,504
Total Annual Marketing Budget : 1,260,000
% of Total Annual Marketing Budget: 0.2%
Total Marketing Budget for this Entry: $3,504
Objective/Goal: Net 1,000 new checking accounts in 2013.
Target Audience/Size of Audience: Our target audience for BreakFree Checking includes individuals between the ages of 24 and 50 who are capable of maintaining checking accounts (for instance, not on ChexSystems).
Strategy - Steps Used to Achieve Objectives: Our BreakFree Checking account offers many perks and is very competitive in the marketplace for checking accounts. We wanted to get the word out, both to existing members who do not
currently have checking accounts with Harborstone and to nonmembers who might consider joining Harborstone so they can have the opportunity to earn a competitive rate on the funds in their checking accounts while never paying another ATM surcharge fee.
In order to reap the benefits of BreakFree Checking, an account holder has to meet a few qualifications: make 12 monthly point-of-sale purchases with a debit card, set up two bill payments with Harborstone’s Online Bill Pay, and either log in to Online Banking or receive a direct deposit once per month. By encouraging members to take advantage of the convenient services we offer, we’re not only teaching them about ways Harborstone can make their lives simpler, but we are also creating the type of member-credit union relationships that last.
The creative uses the metaphor of a fish wanting to BreakFree of an empty fish bowl to enjoy the splendors of a better fish bowl. The fish represents both existing and potential members who are wanting to BreakFree of an empty financial institution as they switch to a Harborstone checking account to earn a competitive rate that is among the highest in the nation.
Media (including social media): Print, Direct Mail, Email, Digital, Social Media
Time Period: January through December 2013
Market/Competitive Factors - the Impact of Competition on your Credit Union: For members who meet the
requirements, our BreakFree Checking account currently offers 3.00% APY on balances of up to $20,000. Additionally, they will have any ATM fees they receive reimbursed each month.
Base Figure ($ or #) 40,823 Checking accounts
Marketing Goal ($ or #) 41,823 Checking accounts
Actual Volume ($ or #) 41,863 Checking accounts
% over Marketing Goal 99.9%
% over Base Figure 97.6%
Gross Revenue $ $113,360
Cost $ $3,504
Return on Investment 3135%
Branch Items
BreakFree Branch Signs, 8.5” x 11”
BreakFree Branch Posters, sizes vary by branch
Examples: Branch Items
BreakFree Branch Posters, sizes vary by branch 75” x 35”
BreakFree Magnet Inserts, Worn by Branch Staff
Branch Items
BreakFree Branch and Event Premiums
BreakFree Cash Envelopes
Remote Channel Items
BreakFree Facebook Cover Image
Examples:
Member Communication Items
BreakFree Postcard
BreakFree Email
Member Communication Items
July 2013 Member eNewsletter
Examples:
Member Communication Items
Member Communication Items
Examples:
Media and Print Advertising Items
Focus Magazine, 8” x 5.25”
Issaquah Highlands Newspaper (also available online), 4.625” x 4.625
Social Media
Facebook Post – August 26, 2013
At 3.00% APY, it’s the perfect time to open a BreakFree Checking account! And you’ll never pay another U.S. ATM surcharge fee. Ever. Read the BreakFree Checking frequently asked
questions. http://www.harborstone.com/home/personal/checking/checking/breakfree
Facebook Post – October 10, 2013
During the Issaquah Salmon Days on October 5 and 6, Harborstone gave out lots of BreakFree Checking goldfish toys to attendees. The goldfish were a huge hit among the young and old. Get your own BreakFree Checking goldfish at any Harborstone branch location!
Facebook Post – October 21, 2013
Get a BreakFree Checking goldfish toy at any Harborstone branch location and BreakFree from financial
stress! http://www.harborstone.com/BreakFree Harborstone BreakFree Checking. At 3.00% APY, it’s the perfect time to
open a BreakFree Checking account! Details at Harborstone.com/BreakFree.
Twitter Post – October 21, 2013
At 3.00% APY, it’s the perfect time to open a #BreakFree #Checking account! http://bit.ly/XY4JDy
Facebook Post – December 2, 2013
Checking accounts are one of the most basic and essential financial tools. That’s why Harborstone offers BreakFree Checking with 3.00% APY up to the maximum balance of $20,000. And you’ll never pay another U.S. ATM surcharge fee.
Ever. http://www.harborstone.com/home/personal/checking/checking/breakfree BreakFree Checking. Open your
BreakFree Checking account online, by phone, or at any Harborstone branch.
Twitter Post – December 2, 2013
At 3.00% APY, it’s the perfect time to open a #BreakFree #Checking account! http://bit.ly/XY4JDy
Facebook Post – December 20, 2013
Your checking account is one of the most basic and essential financial tools. That’s why Harborstone offers BreakFree Checking with 3.00% APY up to the maximum balance of
$20,000. http://www.harborstone.com/home/personal/checking/checking/breakfree BreakFree Checking. Switch to a
BreakFree Checking account online, by phone, or at any Harborstone branch.
