Synergent Interviews: Oxford FCU Leverages Data Mining, Boosts Auto Lending Nearly $800,000…

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Oxford Federal Credit Union Lending Supervisor Deb Brown and Synergent Vice President of Direct Marketing Services Doug McDonald stopped by the Studio Lounge to divulge a pretty cool case study on how Oxford leveraged data mining to vastly increase their auto lending by nearly $800,000.

Here's a quick statistic synopsis of our discussion:

• Oxford FCU was able to leverage member data through data mining to increase their auto lending portfolio by $779,026 over the same period in the year prior
• The campaign paid for itself in just one month
• Of the 1,064 auto loans totaling $18,968,938 signed during the campaign period, 239 auto loans totaling $4,639,695 in new lending could be tied back directly to the targeted lists

 
Driving Results:
1,064 auto loans totaling $18,968,938 in new lending
$779,026 increase in auto lending over the same period last year
239 auto loans tie back directly to the mailing lists totaling $4,639,695 in new lending
6% adoption rate based on 4,039 unique members on the mailing lists throughout the 2016 campaigns

Check out our candid, case study conversation and let us know your thoughts.