During the last few years, Christian Credit Union has made a number of changes to it's product and service line-up to make it more competitive in the marketplace. One important change was the addition of two to five-year mortgage terms. Previously, these terms were available through a third party, while Christian Credit Union offered their own one-year mortgage term. Unfortunately, many people were left with the impression that Christian Credit Union only offered a one-year mortgage term.
Mortgage insurance was also only available through a third party, so if you did not have 25% for a down payment, you could not get a proprietary Christian Credit Union mortgage. That also changed with the addition of mortgage insurance from Genworth Financial. You could now get a one to five-year mortgage term with a minimum 5% down exclusively from Christian Credit Union.
We knew it would take time to change the perception of our limited mortgage offering. We had to let people know they could get a mortgage from Christian Credit Union that fit their needs, "a mortgage that feels like home." The campaign was advertised with in-branch posters, statement inserts, web advertisements, and on Facebook. Front-end staff and Personal Bankers also engaged members with questions about their mortgage needs and financial life goals. As result of this campaign, many members locked their mortgages into longer-term rates and we saw a healthy increase in new mortgage growth.