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Harland Clarke Marketing Services Activation Solutions

One Financial Institution Realizes Increased Line-of-Credit Usage Over the Life of Its Accounts by Targeting New and Stagnant Home Equity Accounts

A top-10 financial institution in the Northeast was challenged with low levels of activation in its home equity line of credit accounts. It struggled both with initial activation following account opening and improving the ongoing utilization of the existing line of credit. It was sending check letters to new line of credit accounts, but had not realized the response rates it had hoped for and did not have a strategy to reactivate stagnant home equity accounts. The financial institution turned to Harland Clarke Marketing Services for a solution that would address two segments of its home equity line of credit account holders: the new account and the existing yet underutilized account.

In an effort to keep the credit line more top-of-mind, the financial institution implemented a direct mail campaign utilizing Harland Clarke Marketing Services’ production capabilities to produce a small, fully personalized checkbook matched to a custom letter. In addition to mailing the checkbook and letter package at the time of account opening, a systematic approach to fulfilling reorder packages was also implemented. An automatic reorder trigger would send the client a second checkbook and letter package upon the clearance of a predetermined check number. This two-pronged approach reached both new home equity line of credit customers as well as existing customers.

Overall, the approach yielded a higher response in initial activation when compared with the letter check packages.

Table Activation Case Study

The checkbook and letter package also demonstrated a longer shelf life for utilization and customers continued to write checks up to three months after receipt. Additional feedback from customers who received the mailings indicated that the product resulted in higher brand recognition for their financial institution and higher likelihood to utilize the check pack as a tool for payments.