Old Dominion National Bank Boosts Deposit Acquisition on CD Valet

Bank and CD Valet showcase CD marketing success, best practices at American Banker's Digital Banking Conference

SEATTLE, May 30, 2025 /PRNewswire/ -- CD Valet is a digital marketplace that enables financial institutions to easily attract deposits by marketing their CD rates and terms to consumers across the country. The company today announced that it will be co-presenting with Howard Stein, Executive Vice President, Chief Operating Officer at Old Dominion National Bank (ODNB), next week at American Banker's Digital Banking Conference. The duo will detail the early success of their partnership, which has cost effectively driven deposits through online conversions and account openings.  

ODNB, with $1.5 billion in assets, partnered with CD Valet to amplify its CD campaign and grow its presence in both existing markets and newly targeted areas, including a recently opened branch in Florida. By digitally and directly promoting competitive CD rates to high-intent savers, the bank has been able to cut through traditional marketing noise. In its first full month leveraging the marketplace, ODNB brought in over $10 million in deposits, opened 40 new CDs and attracted more than 80 new customers, achieving a 10% conversion rate.

"Partnering with CD Valet has allowed us to accelerate our deposit growth more quickly and effectively than traditional marketing channels alone, bringing in over $10 million in just one month," said Stein. "The digital marketplace has also produced a 'halo effect', driving more traffic to our branches and call center for savers to open accounts via other methods. This combination of online and offline interactions has yielded significant deposit growth that is highly cost effective compared to other advertising channels."

CD Valet has enabled ODNB to extend its reach nationally. This ability to digitally introduce the bank to more savers and attract high-value depositors from a broader geographic area has helped ODNB grow while keeping acquisition costs low.

"Our partnership with Old Dominion National Bank is a powerful example of how digital marketplaces can drive real results for community institutions," said Mary Grace Roske, Head of Marketing at CD Valet. "With CD demand surging and competition intensifying, we remain committed to helping financial institutions like ODNB stand out in the pack, especially when its rates stand above competition. With 80% of CDs up for renewal in 2025, CD Valet is a proven strategy enabling financial institutions to attract new deposits in a highly cost-effective way."

Roske and Stein will present a joint session at American Banker's Digital Banking Conference next week on "Driving Deposits in Digital Marketplace: It's Not Just for the Big Brands." To learn more about the session, visit here.  

About CD Valet
CD Valet's digital marketplace enables financial institutions to easily attract deposits by marketing their CDs to savers across the country. Banks and credit unions are empowered to grow deposits and digitally compete with the largest financial institutions, while consumers gain visibility and access to better rates. Built by bankers for bankers, CD Valet offers a full suite of advertising, analytics, and account opening tools to support deposit acquisition. Please visit www.cdvalet.com for more information.

View original content to download multimedia:https://www.prnewswire.com/news-releases/old-dominion-national-bank-boosts-deposit-acquisition-on-cd-valet-302469432.html

SOURCE CD Valet