1. Marketing Plan
Savannah Young
Jessica Eubanks
Ryan Burrup
Jesse Arnoldson

2. I. Executive Summary
Think of the ideal member, how they spend their money, save their money and function in
their relationship with their financial institution. An entire wave of those members can
potentially become a key asset in the membership base at Idaho Central Credit Union.
Making a long-term investment in the new generation can help mold the ideal member. By
investing in the new generation, ages 16-24, you will be maximizing the potential lifetime
value of this member.
ICCU is currently serving 7 counties throughout Idaho. There are 92,018 residents in these
counties ages 18-24. ICCU has branches near several universities and colleges throughout
Idaho. While the digital world advances because of the vast increase in online shopping, the
need for young adults to use a checking account is more important. As this need increases,
so does the demand for a financial institution to reach out to these potential members and
educate them in becoming a financially responsible consumer.
It will be vitally important for ICCU to reach out to this target market through an innovative
and attractive delivery system. We recommend ICCU implement a New Gen Club that is
marketed utilizing video text messaging. Club members will receive short video text
messages that would alert them of events where ICCU will be present and to invite them to
ICCU sponsored activities. This system will be used to build consumer loyalty to ICCU and
it’s New Gen Package.
It will be important for ICCU to more effectively reach out to 16-18 year olds in order to
become the first choice for their financial needs. This campaign will be a competition
between clubs within high schools to design and execute a commercial about a given topic
chosen by ICCU. There will be a prize for the top three clubs or associations with the best
commercial. ICCU will produce the commercials and upload them to YouTube. The finalists
will be chosen partially by how many likes the videos receive on YouTube. This will
generate buzz within high schools. Students will start thinking about ICCU and in turn ICCU
will increase its brand image within the lower half of the 16-24 year old segment and
within the community.
As ICCU places emphasis on the new generation they will receive higher profitability from
these members. ICCU will have greater potential of becoming their primary financial
institution.

3. II. Customer Analysis
1. Market attractiveness
a. Market Size and Growth
i. ICCU’s footprint currently covers the following counties; Ada, Canyon,
Twin Falls, Cassia, Bingham, Bannock and Bonneville.
ii. These counties consist of 92,018 residents ages 18 to 24 (US Census
Bureau).
iii. The Census Bureau does not track specifics on residents age 16-17.
iv. ICCU has branches near several universities and colleges throughout
Idaho including Idaho State University, Boise State University and the
College of Southern Idaho.
v. ISU has roughly 14,500 students (ISU).
vi. BSU has roughly 22,678 students (BSU).
vii. CSI has roughly 8,080 students (CSI).
viii. As people in this target market continue to become more reliant on
technology, the demand for quality bank accounts for them will
increase.
ix. 36% of Gen Y opened a debit card, savings, or primary checking
account in the last year, 10% high than any other generation
(Lemmon 4).
1. It will be important for ICCU to effectively market to this
generation to secure these accounts in Idaho.
b. Profitability
i. While the average member between the ages of 16 and 24 may not
have much money in their account or may not be taking out many
loans, they can become deeply rooted in their membership. This will
generate future business for ICCU.
ii. As members become comfortable with their financial institution, that
institution will be the first place they turn to when they are in need of
additional financial services.
iii. For example, when a young adult gets their first auto loan, they will
likely buy a $6,000 car financed for 48 months at an average rate of
6% the credit union will have $763 in interest revenue.
iv. When this young adult decides to purchase a home, they may buy a
$100,000 home on a 30-year mortgage at a 4.5% interest rate. This
would equal $82,407 interest revenue if the member followed the
amortization schedule exactly.
c. Market Trends
i. While the digital world increases along with the vast increase in
online shopping, the need for young adults to use a checking account
will become more and more important.
ii. Children are growing up using technology and this will lead to a
greater demand for online banking to manage their finances.
d. Market Segment
i. Youth ages 16 to 24 have access to technology 24/7.

4. ii. This market depends on technology as one of their main resources.
iii. The growth in smartphone use and mobile apps has given its users
access to many resources that they hold in their pocket.
iv. Customers in this target market expect services and resources
available to them on demand and at any time of day.
e. Important attributes to this target market
i. Convenient access to money
ii. Debit Card
iii. Credit Card
iv. Free accounts
v. 24 hour service
vi. Online/Mobile Banking
1. Mobile Deposit and Bill pay
2. Mobile alerts
vii. Education
viii. Low penalty fees
ix. Customization
x. Incentive
xi. Access to resources in build credit
xii. Lenders willing to work with them
2. Customer Needs
a. Rewards, there is no New Gen Savings Account to go with the checking,
financial education, higher involvement with their financial institution
b. No minimum balance or monthly fees, free instant issue Visa Check Card, first
box of personalized checks free, free online banking, bill pay and online
eStatements, free mobile and text banking, free Touch Tone Teller, low, fixed
rate Visa Credit Card, free access to 30,000 ATMs nationwide, one free
forgiveness of an overdraft “Oops Certificate,” earn $25 for referring a friend
to open a checking account, free direct deposit, NCUA insured up to $250,000.
III. Competitor Analysis
1. Current Positioning for Competitors:
a. Strengths
i. Wells Fargo: #1 Deposits, Junior Agent Saver Club, Credit Card with
Rewards (cash rewards, gift cards, hotels, rental cars, cruises,
popular brand name merchandise), Online banking, online,
Teen/College product, online banking, bill pay, online statements,
Mobile/Text banking, free debit card, free checks.
ii. Mountain America CU: different ways to waive $4 Monthly Service
Fee, rewards (cash rewards, gift cards, travel, rebates), teen
product/generic CD’s, online statements, bill pay, mobile/text
banking, free debit cards, free checks with rewards.

5. iii. US Bank: No monthly service fees, first box of checks are free, 16-24
Combo Product, rewards, student loans, online, bill pay, online
statements, mobile and text banking, free debit cards
iv. ISU Credit Union: Free checks, online statements, bill pay, mobile and
text banking, free debit card, 13-17 product, college product, rewards?
v. Westmark Credit Union:
vi. Beehive Credit Union: College product, bill pay, online statements,
mobile and text banking, free banking
b. Weaknesses
i. Westmark CU: Not targeting specific markets, no student loans, no
college products, only savings for teens,
ii. Wells Fargo: Stringent requirements in order to waive fees, higher
fees depending on the account, $3 Monthly Service Fee, no free
checks
iii. Mountain America CU: $4 Monthly Service Fee
iv. US Bank: No teen/college products
v. Beehive Credit Union: no student loans, no teen product, no rewards
vi. ISU Credit Union: no student loans,
IV. Company Analysis
1. Current Positioning and brand image
a. Refer to positioning map
2. Strengths
a. Free access to 30,000 ATM’s throughout the nation, overdraft protection, free
online banking, bill pay, direct deposits, mobile/text banking, Touch Tone
Teller, free check images,
3. Weaknesses
a. Struggle with marketing to high school age
4. Values
a. Four Core Values
i. Honesty and Integrity (Act with honesty and integrity, what's right is
right.)
ii. Respect and Dignity (Conduct yourself with dignity and treat
everyone with respect.)
iii. Growth and Performance (Consistent growth and financial strength
are core to our success)
iv. Improvement and Accountability (Encourage lifelong learning and
strive for excellence.)
V. Target Segment
1. Identify and analyze possibilities for differentiation
a. A common occurrence with ICCU’s competition is that several financial
institutions do have programs or services that target the New Gen market

6. however the programs or services are not promoted to the point of being
successful.
2. Decide on focus strategy (i.e. service, market or fully focused)
a. A strong focus should be place on promoting a New Generation program that
creates brand/product loyalty, is technologically innovative, and provides
added value to ICCU’s banking services.
3. Select benefits to emphasize to customers
a. The opportunity to become a member of the New Gen Club which entails:
i. Invites to special ICCU/New Gen events
ii. Updates on school/community events where ICCU will be present
iii. Comical/educational text videos made for New Gen members
iv. New Gen monthly deals (local business discounts or giveaways)
b. Higher involvement with area high schools
VI. Recommended Positioning Strategy
1. Current ICCU Position Strategy
a. Active in social media
b. Presence at ISU/BSU activities
c. Product package specific to youth/student market
2. Recommended ICCU Position Strategy
a. Loyalty approach contributions
i. New Gen Club
ii. Cash For Clubs Campaign
b. Credit unions that have youth programs or special children’s savings
accounts, those with more tools, newsletters and promotional
messaging have an edge (Lemmon 10).
VII. Services Marketing Strategy recommendations and action plan
1. New Gen Club – ICCU will implement a New Gen Club that is marketed utilizing
video text messaging. Club members will receive short video text messages that
would alert them of events where ICCU will be present and to invite them to ICCU
sponsored activities. This system will be used to build consumer loyalty to ICCU and
it’s New Gen Package.
a. How to sign up
i. ISU activities
1. New Student Orientation
2. Homecoming Week
3. Athletic Tailgating
4. Springfest
ii. ICCU
1. In branch interactions
2. Ruckus raffle entry forms

7. 3. Jeep give away entry forms
4. Green Machine
5. Online at iccu.com
b. Themes
i. Educational
ii. Comedic
iii. Invitational
c. Benefits to members
i. Swag
ii. Free food
iii. Prizes
2. Cash For Clubs Campaign– This campaign will be a competition between clubs
within high schools to design and execute a commercial about a given topic chosen
by ICCU. There will be a prize for the top three clubs or associations with the best
commercial. ICCU will produce the commercials and upload them to YouTube. The
finalists will be chosen partially by how many likes the videos receive on YouTube
and Facebook. This will generate buzz within high schools. Students will start
thinking about ICCU and in turn ICCU will increase its brand image within the lower
half of the 16-24 year old segment and within the community.
a. Support for campaign
i. Gen Y wants to have a voice and participate yet they still turn to their
parents for advice (Lemmon 10).
b. Semester long competition
i. Sign up at the beginning of school
ii. Voting starts December 1.
c. Clubs and associations in the high school are eligible
d. Themes
i. Financial responsibility
ii. ICCU membership benefits
iii. New Gen Accounts
e. Regional Competition
i. Boise
ii. Pocatello
iii. Twin Falls area
iv. Idaho Falls
f. School Competition
i. One winner from each school
ii. Winners within region will compete against each other for grand prize
g. Logistics
i. Students will produce mockup video
ii. Submit it to ICCU
iii. ICCU will post videos to social media that meet requirements
h. Voting Process
i. Videos will be posted to YouTube and Facebook
ii. Community will vote by liking video

8. i. Incentives
i. Cash prize for winning club
ii. Additional cash prize for regional winner
iii. Winning commercial will be aired on local TV
3. Excellence in Education – ICCU will implement a program for high school students
to earn $5 gift cards. When a student receives a report card at the end of a semester
it will have an insert telling the student to come into a branch to get their $5 gift
card, if the student qualifies. To qualify a student must have perfect attendance or a
3.2 GPA. Once the student comes in to redeem their gift card at an ICCU branch with
their parents they can be prompted to open a savings account.

9. Works Cited
"About Boise State University." Boise State University. N.p., n.d. Web. 11 Dec. 2013.
"Census Bureau Homepage." Census Bureau Homepage. N.p., n.d. Web. 09 Dec. 2013.
"[CSI] College of Southern Idaho." [CSI] College of Southern Idaho. N.p., n.d. Web. 11 Dec.
2013.
"Idaho State University." About. N.p., n.d. Web. 11 Dec. 2013.
Lemmon, Nicolette. "Understanding the New Age Wave: Gen Y." Lemmon Tree Marketing
Group, n.d. Web. 10 Dec. 2013.