AltaOne Federal Credit Union Doubles Loan Volume With 'Desperate Housewives' Theme

Redbeard™ Communications, a brand strategy and creative design firm specializing in the financial industry, designed a mortgage loan campaign for AltaOne Federal Credit Union that helped the $430 million credit union generate an estimated $6 million of first mortgage loan applications in July.

Using the initial concept created by AltaOne’s marketing team, Redbeard developed “Desperate House Loans,” a campaign reflecting the hit television series “Desperate Housewives” in an exaggerated, soap opera style. One of AltaOne’s primary goals is to ensure that the lending process is hassle-free. In keeping with this philosophy, the strategic lending messages to its members highlight AltaOne’s key mortgage differentiators: no down payment on a first deed; 100 percent financing for first time pre-qualified home buyers; low fees; low fixed rates; no origination fees; no documentation fees; and an easy online application.

The campaign consists of local newspaper and radio advertisements as well as statement inserts, teller signs, branch posters and graphics for the credit union’s newsletter and Web site.

“Redbeard Communication’s aptitude for combining niche marketing with clever humor made a clear impression on our members,” said Wendy R. Cleveland, vice president of marketing at AltaOne. “Mortgages have daunting reputations; Redbeard designed the ‘Desperate House Loans’ campaign to show our members that we can get them the house they want without unnecessary drama. The response from our members was excellent. After running the campaign for the first month, the credit union doubled its first mortgage applications when compared to the same time last year. We are extremely pleased with the results and would recommend Redbeard’s efforts to any financial institution wanting fresh, innovative ideas.”

The advertisements depict an attractive house with a white picket fence and climbing roses. Each ad features one of four females resembling the “Desperate Housewives” cast. The melodramatic copy details the peril of getting a home loan with another company and explains the benefits that AltaOne offers.

“The ‘Desperate House Loans’ campaign was developed and implemented with the ideal combination of timing and humor to play off this pop-culture television hit,” said Gregg Hoffman, president of Redbeard.

The print and branch materials are being repeated this month due to the campaign’s success. One advertisement can be viewed on the credit union’s homepage, www.altaone.org, during the month of September.