Extra Credit Union, based in Warren, Mich., has been honored with the 2025 Finopotamus Tekkie Award for Revenue Growth, a testament to their successful integration of AI-powered digital banking engagement in their marketing strategy. This strategic move resulted in an impressive $12.7 million in new deposits from March to December 2024, highlighting the effectiveness of personalized, data-driven approaches in the competitive financial sector.
Facing challenges such as rising interest rates and intense competition, Extra Credit Union turned to DeepTarget's Digital Experience Platform (DXP) to enhance their marketing efforts. The platform's integration with their digital banking environment allowed for targeted messaging that resonated with members, achieving a 7.66% click-through rate—significantly higher than industry averages. This approach, combined with traditional marketing channels, led to the opening of 1,092 new CD accounts and a substantial increase in deposits.
The success of Extra Credit Union underscores the transformative potential of AI in financial marketing. By leveraging technology to deliver personalized offers at the right moment, financial institutions can not only improve their marketing performance but also expand their lending capacity and better serve their members. This achievement serves as a model for other institutions looking to navigate the complexities of today's financial landscape.
DeepTarget's CEO, Preetha Pulusani, emphasized the significance of this achievement, stating that it validates the power of AI-powered tools in enabling midsized financial institutions to compete effectively. The partnership between Extra Credit Union and DeepTarget illustrates how strategic technology integration can turn digital banking platforms into powerful revenue engines, offering a blueprint for success in an increasingly digital world.
