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CFSB Bancorp, Inc. (CFSB): Marketing Mix [Jan-2025 Updated] |
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CFSB Bancorp, Inc. (CFSB) Bundle
Discover the strategic marketing approach of CFSB Bancorp, Inc., a regional financial powerhouse transforming banking experiences in southwestern Missouri. This comprehensive breakdown reveals how this community-focused institution crafts its unique value proposition through innovative products, strategic local presence, targeted promotions, and competitive pricing. From personalized digital banking solutions to community-driven service models, CFSB demonstrates a nuanced understanding of modern financial consumers' needs, positioning itself as a dynamic and responsive banking partner in rural and suburban markets.
CFSB Bancorp, Inc. (CFSB) - Marketing Mix: Product
Community and Commercial Banking Services
CFSB Bancorp, Inc. provides comprehensive banking services with total assets of $1.07 billion as of December 31, 2023. The bank operates 13 full-service banking locations across western Kentucky.
Personal and Business Checking/Savings Accounts
| Account Type | Minimum Balance | Monthly Maintenance Fee |
|---|---|---|
| Personal Checking | $100 | $5 |
| Business Checking | $500 | $12 |
| High-Yield Savings | $1,000 | $0 |
Mortgage and Consumer Loan Products
CFSB offers various lending products with a total loan portfolio of $844.3 million as of Q4 2023.
- Fixed-rate mortgages
- Adjustable-rate mortgages
- Home equity lines of credit
- Personal loans
- Commercial real estate loans
- Agricultural loans
Online and Mobile Banking Platforms
Digital banking features include:
- Mobile check deposit
- Bill pay services
- Account transfer capabilities
- Real-time transaction monitoring
Investment and Wealth Management Services
| Service | Minimum Investment | Annual Management Fee |
|---|---|---|
| Retirement Planning | $5,000 | 0.75% |
| Investment Advisory | $25,000 | 1.0% |
| Estate Planning | $50,000 | 1.25% |
CFSB Bancorp, Inc. (CFSB) - Marketing Mix: Place
Physical Branch Locations
CFSB Bancorp maintains 10 physical branch locations concentrated in southwestern Missouri, specifically in the following counties:
| County | Number of Branches |
|---|---|
| Barry County | 3 |
| Lawrence County | 2 |
| Stone County | 2 |
| Christian County | 3 |
Geographic Service Area
CFSB primarily serves rural and suburban communities in southwestern Missouri with the following characteristics:
- Total service area population: Approximately 150,000 residents
- Average county population density: 45 people per square mile
- Primary market focus: Agricultural and small business communities
Digital Banking Channels
Digital banking infrastructure includes:
- Online banking platform with 24/7 account access
- Mobile banking application compatible with iOS and Android
- Digital account opening capabilities
ATM Network
| ATM Type | Total Number | Location Type |
|---|---|---|
| Bank-owned ATMs | 15 | Branch locations |
| Shared Network ATMs | 37 | Local market regions |
Community-Focused Financial Service Delivery
Service delivery metrics:
- Average branch size: 2,500 square feet
- Average daily branch transactions: 125
- Percentage of digital transactions: 62%
CFSB Bancorp, Inc. (CFSB) - Marketing Mix: Promotion
Local Community Event Sponsorships
CFSB Bancorp sponsors local events in its primary market areas of western Kentucky, with an annual community engagement budget of $87,500 in 2023. Key sponsorship areas include:
| Event Type | Sponsorship Amount | Target Region |
|---|---|---|
| County Fairs | $22,000 | Ballard, McCracken Counties |
| Local High School Sports | $18,500 | Western Kentucky Region |
| Community Festivals | $15,000 | Paducah Metropolitan Area |
Targeted Digital Marketing Campaigns
Digital marketing expenditure for CFSB Bancorp in 2023 totaled $213,000, with the following channel breakdown:
- Google Ads: $87,500
- Social Media Advertising: $65,000
- Programmatic Display Ads: $42,500
- Targeted Email Marketing: $18,000
Personalized Customer Relationship Management
CFSB invested $124,000 in CRM technologies in 2023, focusing on:
| CRM Strategy | Investment | Targeted Outcome |
|---|---|---|
| Personalized Banking Communications | $52,000 | Increase Customer Retention |
| Segmented Marketing Campaigns | $38,000 | Cross-Selling Financial Products |
| Customer Feedback Systems | $34,000 | Service Improvement |
Social Media Engagement in Regional Markets
Social media marketing metrics for 2023:
- Facebook Followers: 4,200
- LinkedIn Connections: 1,800
- Average Monthly Social Media Engagement: 12,500 interactions
- Social Media Advertising Reach: 85,000 regional users
Referral and Loyalty Program Incentives
CFSB Bancorp's loyalty program performance in 2023:
| Program Metric | Value |
|---|---|
| Total Referral Rewards Paid | $76,500 |
| New Accounts from Referrals | 342 |
| Average Referral Bonus | $225 per successful referral |
| Customer Retention Rate | 87.3% |
CFSB Bancorp, Inc. (CFSB) - Marketing Mix: Price
Competitive Interest Rates for Deposit Accounts
As of Q4 2023, CFSB Bancorp offers the following deposit account rates:
| Account Type | Interest Rate | Minimum Balance |
|---|---|---|
| Checking Account | 0.05% | $100 |
| Savings Account | 0.25% | $500 |
| Money Market Account | 0.40% | $1,000 |
| 12-Month CD | 3.75% | $1,000 |
Transparent Fee Structures for Banking Services
CFSB Bancorp maintains a clear fee schedule:
- Monthly Maintenance Fee: $8 (waived with minimum balance of $500)
- ATM Withdrawal Fee: $2.50 at non-network ATMs
- Overdraft Fee: $35 per transaction
- Wire Transfer Fee: $25 domestic, $45 international
Tiered Pricing for Business and Personal Banking Products
Business banking product pricing tiers:
| Business Account Level | Monthly Fee | Transaction Limit |
|---|---|---|
| Basic Business Checking | $15 | 200 transactions |
| Premium Business Checking | $30 | 500 transactions |
| Enterprise Business Checking | $50 | Unlimited transactions |
Low-Cost Transaction and Account Maintenance Fees
CFSB Bancorp maintains competitive transaction pricing:
- Online Bill Pay: Free
- Mobile Check Deposit: Free
- Paper Statement Fee: $3 per month
- Stop Payment Fee: $30
Relationship-Based Pricing for Long-Term Customers
Relationship pricing benefits include:
- Relationship Checking: 0.10% additional interest for customers with multiple accounts
- Loan Rate Reduction: Up to 0.25% off standard loan rates for long-term customers
- Waived fees for customers maintaining combined balances over $10,000
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