#4109: Ardent Credit Union's 'Slam Dunk CD' Set to Reward Members via Villanova Basketball...

ardentcu_allettaemeno_audio.mp3
File Size:	14482 kb
File Type:	mp3

Download File

---

Alletta Emeno, CMO at Ardent Credit Union, joined us on the show to discuss Ardent Credit Union launching a certificate product that pays members more when University of Villanova men's basketball team wins at home called "Slam Dunk CD.”

Alletta explained what the Slam Dunk CD is, what sparked this idea, and how it works exactly.

She shared some of the CD's particular, as well as why is this particular CD is important to the credit union and members:

• Deposit innovation beyond rate wars: Credit unions are moving past static APYs to create differentiated, community-anchored products that drive emotional engagement
• Risk-controlled rate strategy: The structure caps rate exposure while maintaining competitive baseline yields—a model adaptable across sports markets and community partnerships
• Part of a broader NIL and athlete banking play: The CD extends Ardent's #ArdentAthlete program, which partners with Villanova student-athletes (including Men's Basketball Guard Malachi Palmer promoting the CD itself) to deliver financial education and tailored products—positioning the credit union as the financial partner for college students and Villanova fans
• Retention through localization: Sports-linked deposits create stickiness that national banks can't replicate, turning members into brand advocates

Alletta also shared results since launching November 15 and goals she has for the Slam Dunk CD, as March Madness is just around the corner. No pressure Wildcats!

Lastly, Alletta provided advice to other credit unions about launching something similar leveraging sports-linked campaigns, adding that it's a case study in how smaller institutions are using hyper-local strategies to compete on more than just basis points.

Q&A summary
What is the 'Slam Dunk CD'' and how does it work?
The Slam Dunk CD is a seven-month certificate of deposit that offers a base rate of 3.9% APY, which increases to 4.25% APY when the Villanova basketball team wins at home. It's designed to engage members with their local team while providing a competitive interest rate.
What strategies did Ardent Credit Union use to promote the Slam Dunk CD?
Ardent Credit Union utilized partnerships with Villanova Athletics, including advertising during games and using social media channels to reach a younger audience, enhancing their visibility and engagement.
What are the goals of the Slam Dunk CD program for Ardent Credit Union?
The goals include differentiating themselves in a crowded market, attracting new members, and increasing community engagement through a fun and innovative product linked to local sports.
How does the Slam Dunk CD contribute to attracting younger members?
By partnering with NIL athletes and promoting the CD through channels that appeal to younger audiences, Ardent Credit Union aims to engage a demographic that may not be familiar with credit unions.
What challenges did Ardent Credit Union face when launching the Slam Dunk CD?
Initially, the product was too complicated for potential members to understand, leading to a redesign that simplified the offering and improved results.
What advice does Ardent Credit Union have for other credit unions considering similar sports-linked products?
They recommend building on existing partnerships, adding fun to financial products, and being prepared to iterate based on feedback to improve the offering.

Check it out and let us know your thoughts. And be sure to watch the entire episode below for all the details.