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Fee-Generating Relationship Account

Fee-Generating Relationship Account at $250 Million Bank

Great Lakes-Area Financial Institution
Assets: $250 Million
DDAs: 8,500

After four years of promoting free checking with an aggressive premium-based direct mail program, this institution partnered with Affinion Group to help increase fee income without driving off customers. Management also wanted to continue attracting new depositors.

To achieve these objectives, Affinion Group developed a checking package of traditional banking, credit and investment products, along with lifestyle-oriented benefits to provide the institution's customers with one-stop shopping for all of its financial products. The account was offered for a fixed monthly fee.

To promote the account, the institution mailed a $5 "live check" to its checking base, offering them an incentive to try the account risk-free. They also rolled out an employee incentive program and ran a media campaign.

 

 

 

 

 

 

Over the last few years...

 

  • 30 years of service
  • 70 million members worldwide
  • Over 800 million direct marketing pieces mailed annually
  • 46,000 marketing campaigns conducted over the last decade
  • 80 million telemarketing contracts annually
  • Over 1 million new online members added each year
  • Multiple industry experience including financial, retail, travel, entertainment, e-commerce, and direct response TV
  • 25 core products with custom flexibility