SAYLENT EXPLORE
Elevating Debit Card Activation and Utilization.

SAYLENT EXPLORE
Elevating Debit Card Activation and Utilization.

Established in

1955

Total Assets

$350 Million

Headquartered in

North Charleston, SC

Financial Institution

Established in 1988

Assets Totalling

$1 Billion

Based In

Columbus, MS

CHALLENGE

Increase member engagement to prevent customer attrition and drive retention.

With so many easily-accessible alternatives at their members’ disposal, CPM must consistently make strides to provide the best member experience through exceptional value and service. Consumers are frequently targeted with card offers from other institutions, so developing a strategic plan to influence card engagement was an imperative part of CPM’s success.

To combat the efforts of other institutions and deepen the relationship with existing cardholders, CPM FCU needed to identify newly-issued or underperforming cardholders and incent them to increase their card usage.

Solution

Target low spending cardholders with incentive to grow their relationship.

To continue to foster member engagement and retention, CPM partnered with Saylent to identify underperforming cardholders in their portfolio. They pinpointed over 5,000 cardholders with low spend over a baseline month.

CPM utilized Saylent’s turnkey marketing services to create a marketing campaign to reach and engage these cardholders. The targeted audience was asked to increase spending by being incented with gasoline gift cards; spending between $500-$750 would earn a $10 gas gift card, while spending more than $750 would be rewarded with a $20 gift card.

Results

For those that qualified for the incentive, transactions rose from 6.64 in the baseline month to 24.13 transactions. Better yet, the residual effect was apparent long after the campaign was in market, with average transactions sitting at 18.09 a full year after the campaign’s launch.

Return on Investment

0%
CPM experienced a one year return-on-investment of 233%

“The ability of Saylent & CO-OP’s turn-key campaigns to drive card usage with very little effort from our internal resources has kept us coming back for more, year after year.”

Shannon Pahula, COO, CPM Federal Credit Union

Download the full story.

Get more details on CPM’s success by downloading the full Success Story.

Download the full story.

Get more details on CPM’s success by downloading the full Success Story.

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