DuPont Goodrich Federal Credit Union, known as “DuGood” and based in southeast Texas, set a goal to increase credit card account acquisitions. At the same time, DuGood wanted a solution to help protect members from the rising tide of identity theft. This prompted the credit union to evaluate offering an identity theft protection service to help safeguard its account base.
To address its dual goals of providing a service to help protect members and to increase account acquisitions, DuGood began offering new and existing credit card holders free identity theft protection using an identity protection solution from Harland Clarke. This fully managed recovery solution delivered excellent value — for both its low cost to the credit union and its high value to members.
DuGood launched a marketing campaign targeting current as well as potential members in order to promote its credit card and free identity protection services from Harland Clarke. The campaign included a direct marketing piece to hundreds of members whose credit card balance or usage was low. Other elements of the campaign included a website banner ad, an offer in its quarterly member newsletter, two email marketing pieces, ads in four local newspapers, and a promotion on marquees in front of all branches.
After implementation, the number of new credit card accounts nearly doubled. Previous DuGood credit card promotions were also successful, but they did not bring in nearly the increase in the number of new accounts as did the addition of free identity theft protection. The program achieved the goal of increasing credit card account acquisitions. The identity theft service gave DuGood a strong competitive edge in a highly competitive market.
DuGood was so pleased with Harland Clarke’s identity protection solution that it has decided to expand the free solution to debit card holders as well. DuGood also will offer a fee-based premium identity protection solution from Harland Clarke, which will provide additional revenue opportunities for the credit union.
In addition, DuGood is conducting webinars for its staff in order to educate them about the extended plan and the promotion, and about the risks of identity theft, so that they can be a more valuable resource to members.
Feedback on the resolution service has been uniformly positive, with members highly appreciative of the new service. Those who have submitted claims have been 100 percent satisfied with their recovery service.1