Vermont Federal is a full service, not-for-profit, cooperative financial institution that’s been serving Vermonters for over 60 years. To help instill good money management habits in teens – and develop the next generation of members – they engaged Stackpole to promote a special Student Checking account to parents and their kids aged 13-18.
While parents and teens hold the account jointly, parents are the ultimate decision-makers. So the print ads, digital banners and Facebook ads are targeted directly to them. But the messages and imagery capture the realities of teenage life – like the omnipresent cell phones – in a way both groups can recognize and relate to.
The digital campaign used geofencing – in which ads are targeted only to people in specific locations – to help maximize efficiency. Stackpole can employ the full range of digital marketing tools and techniques to optimize our clients’ campaigns, extend their budgets, and enhance their online presence.
Vermont Federal trusts that these young account holders will value their first banking experience – and gain the knowledge to begin banking on their own. Once they turn 18, they can transition to an adult Reward Checking Account, with the option to remove the parent as joint account holder.
The mission of Vermont Federal is to “make a decided difference in the lives of its members” and provide the best possible products and services to members in all phases of life. With low rates of financial literacy among young people, helping them develop sound money skills – and a level of financial independence – certainly applies.