Brand
Financial services

This credit union tripled auto loan applications

Advia CU used Faraday to recommend products for its members—and saw $2.7 million in new loans in 90 days

  • Advia Credit Union faced difficulty engaging members with the right financial product offers and needed to grow their "wallet share" while avoiding member dissatisfaction.

  • Advia's lead data scientist leaves, causing delays in hiring a replacement. The credit union also faces challenges adhering to stringent fair lending regulations while using member data.

  • Advia partners with Faraday to leverage its platform for personalized product recommendations, starting with auto loan offers, and uses Faraday's features for bias mitigation and fair lending compliance.

  • Advia uses Faraday’s recommendations to target members more effectively, leading to improved engagement with personalized email and direct mail campaigns.

  • Advia sees a significant increase in auto loan application rates, reaching 5.18% after 90 days and generating $2.7 million in new loans, demonstrating improved campaign performance and regulatory compliance.

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