NEWPORT NEWS, Va., April 21, 2021 /PRNewswire/ -- BayPort Credit Union is pleased to announce it was honored with three Diamond Awards by the Credit Union National Association (CUNA) Marketing and Business Development Council. 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 launched Credit Score, powered by award-winning fintech company SavvyMoney, the newest service within its online banking and mobile app. Utilizing a comprehensive digital promotion, BayPort achieved a 30 percent adoption goal within the first eight months of launch, ranking BayPort No. 1 among SavvyMoney partners with more than 25,000 online banking users and No. 3 among partners launched in 2020. Additionally, the adoption rate is two-times that of BayPort's Bill Payment tool.
Analyzing the Credit Score data, BayPort created its 6-week Credit Checkup Challenge. BayPort invited nearly 3,000 members within the 550 to 639 credit score range to participate in a financial education program that included 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 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 were suspending their home equity loan 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 lets members borrow up to 100 percent.
The most prestigious annual credit union industry competition, the CUNA Diamond Awards, recognize and reward creative excellence and outstanding results. This year, they received more than 1,200 entries from credit unions all over the U.S., but only 350 entries were selected as Diamond Award winners. BayPort is one of only six Virginia credit unions to be recognized with a Diamond Award.
In 1928, nine shipyard workers from Newport News Shipbuilding formed an organization with a specific purpose as a low-interest source of loans and a trusted place to deposit money. Today, BayPort Credit Union is rated a Superior 5-Star credit union by Bauer Financial, managing $1.9 billion in assets and servicing more than 145,000 individuals and businesses with 25 branch locations across the Virginia Peninsula and Southside communities. Visit us at www.bayportcu.org.
SOURCE BayPort Credit Union