PowerBI Custom Date Column

[gavs73]

Hi, would appreciate any pointers with this, I want to classify Customers between New <= 12 Months prior to Todays date and Existing > 12 Months, I'm trying to add it as a Custom Column in the Power Query Editor, but I'm getting an Error. Thanks Gav

= Table.AddColumn(#"Changed Type", "NewExisting",
each if [CreatedDate] <= Date.AddYears(DateTime.LocalNow(),-1)
then "Existing" else if [CreatedDate] > Date.AddYears(DateTime.LocalNow(),-1) then "New" else "Existing")