Harborstone Credit Union drives 60% online banking enrollment and cuts acquisition costs by 75%

Overview

Harborstone Credit Union, founded in 1955, is a member-owned, not-for-profit financial institution serving communities across Washington state. With $1.8 billion in assets and over 85,000 members, Harborstone is dedicated to fostering trusted relationships and delivering personalized, meaningful financial services.

Challenge

The credit union sought to enhance digital adoption and expand its relationships with indirect auto loan members. Consumers who joined Harborstone through financing a vehicle at a dealership often did not engage with the credit union beyond their auto loan. These indirect members were slow to adopt online banking, opt in to text communications, or open checking accounts. Harborstone needed to drive greater activation and cross-sell success while maintaining low acquisition costs.

Consumers who join Harborstone as a result of financing a vehicle at a dealership, may or may not know they have joined a membership with benefits.”

Ken Bloomfield, VP of Marketing & Member Experience

Solution

Harborstone leveraged the Digital Onboarding engagement platform to deliver automated campaigns targeting new indirect auto loan members. The program included:

• Personalized emails and SMS messages guiding members to microsites
  
• Self-service tools to make digital banking enrollment and SMS opt-in seamless
• Promotional landing pages encouraging members to open a Harborstone BreakFree checking account with a $100 bonus incentive

Results

The campaign achieved remarkable adoption and cost-efficiency outcomes across multiple digital channels:

• 60% of members enrolled in online banking
  
• 18% of members opted in to SMS communications
• Reduced checking account acquisition costs by 75%, compared to the industry average of $400 per account
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Impact

By targeting indirect auto loan members with personalized and automated digital journeys, Harborstone turned a low-engagement segment into more active, profitable relationships. The initiative reduced first-payment default risk, expanded everyday banking adoption, and delivered significant cost savings.

Using the Digital Onboarding platform, we can deliver timely and relevant messages that help reduce first-payment defaults while expanding our everyday banking relationships. We are optimistic with our initial results!”

Ken Bloomfield, VP of Marketing & Member Experience

Conclusion

Harborstone Credit Union proved that personalized onboarding drives deeper engagement with indirect members. By partnering with Digital Onboarding, Harborstone expanded relationships, boosted digital adoption, and cut checking acquisition costs dramatically.