NEWPORT NEWS, Va., April 21, 2021 / PRNewswire / – BayPort Credit Union is pleased to announce that it has been awarded three Diamond Awards by the Marketing and Business Development Council of the Credit Union National Association (CUNA). BayPort won two Diamond Awards in the Complete Campaign category for its Credit Score and Home Equity promotions and one Diamond Award in the Financial Education category for its Credit Checkup Challenge campaign.
In early 2020, BayPort Credit Score, powered by award-winning fintech company SavvyMoney, launched the latest service within its online banking and mobile app. Leveraging an extensive digital promotion, BayPort achieved a 30 percent acceptance target within the first eight months of launch, putting BayPort # 1 of SavvyMoney partners with more than 25,000 online banking users and # 3 by 2020. launched partners was ranked. rate is twice that of BayPort’s Bill Payment tool.
BayPort analyzed the credit score data and created its 6-week credit check challenge. BayPort invited nearly 3,000 members with a credit score of 550 to 639 to participate in a financial education program featuring weekly themed email challenges, short videos and interactive virtual workshops. To actively promote the Credit Checkup Challenge, BayPort launched a targeted email and digital campaign. As a result, more than 500 members have signed up for the 6-week financial wellness and education program.
In 2020, at the height of the COVID-19 pandemic in our community, other major banks and national credit unions suspended their funding programs. BayPort saw an opportunity to actively promote our Love Your Home 100% campaign through traditional and digital media promotions. Unlike other financial institutions that only allow their members to borrow up to 80 percent of their home’s equity, BayPort allows members to borrow up to 100 percent.
The most prestigious annual credit union competition, the CUNA Diamond Awards, recognizes and rewards creative excellence and outstanding results. This year, they received more than 1,200 entries from credit unions across the US, but only 350 entries were selected as Diamond Award winners. BayPort is one of only six credit unions in Virginia to be recognized with a Diamond Award.
In 1928, nine Newport News Shipbuilding shipyard workers formed an organization with a specific purpose as a low-cost source of loans and a trusted place to deposit money. Today, BayPort Credit Union is rated by Bauer Financial as a superior five-star credit association, managing $ 1.9 billion in assets and serving more than 145,000 individuals and businesses with 25 affiliates across the Virginia and Southside Peninsula. Visit us at www.bayportcu.org.
SOURCE BayPort Credit Union