LAFAYETTE, La. –A contest that involved members uploading pictures of their ugly cars to a special website has resulted in a near doubling of auto loan volume for one credit union.
Maple Federal Credit Union staged the “Lemons for Lemonade” promotion for 60 days, with the winning members coming out on top in the contest after featuring their lemon, a broken-down Toyota 4Runner.
The winners received one year of monthly car payments up to $300 per month.
The battle to be voted ugliest took place on Facebook. The $36-milion Maple FCU also created a microsite at WeReplaceUglyCars.com in support of a campaign that included a limited time offer of half a percent off the CU’s auto loan rates plus a $100 discount on GAP insurance.
To draw additional attention, Maple Federal also offered ice-cold glasses of fresh lemonade served inside its branch.
“So many folks in Lafayette are in need of reliable transportation to manage daily life, such as their commute to their jobs and going to the grocery store,” said Bo McDonald, CEO of Greenville, S.C.-based Your Marketing Co., which created the promotion. “This was a fun way to say it’s time to turn in that old clunker for something that is not only more reliable but also affordable.”
New Facebook Page Launched
The Facebook contest also coincided with the launch of Maple’s Facebook page. Launched April 30, the 6,456-member CU already has 419 followers, Your Marketing Co. reported.
The winning couple, Eric, an entrepreneur and local musician who promotes local small businesses, artists and charitable causes, and Lindsy, a local Sheriff’s employee and pet foster advocate–won at the “perfect time,” the credit union reported.
“They had to make costly home repairs that were not planned and his car died, all at once,” said Pamela Stelly, CEO of Maple Federal Credit Union. “They are going to take this year of car payments to work on paying off the debts they incurred on their home and let us pay the note on the car.
“This totally fits our vision” continued Stelly. “We want to manifest change in Lafayette. It’s not just about making more loans, but to be brave, bold and authentic with the people we serve.”