Transcript CU Village

Angel Santos
NJCUL Business Consultant
• Creating Member Value
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How it works
Membership Enhancement Programs
Impact – Its Working
IIA Offers – Grow Loans, Generate Income & Transaction Volume
• Industry Support – BizKid$
• Best Practices
• Integrating IIA into your core services
• 2009 CU Journal’s Innovation of the Year Award
• 2012 NCUF Herb Wegner Memorial Award for
Outstanding Program
• Credit unions can improve membership value and their bottom
line with Invest in America, by linking exclusive discounts to
their core services
– Increase auto loans – and member loyalty through Credit Union
Member Discount from GM
– Enhance member value – Sprint*, TurboTax* and Member Connect*.
– Earn non-interest income - income opportunities through the Sprint
Credit Union Member Discount and Member Connect
– Increase debit/credit card usage – by offering discounts from Shop
America and other Member Rewards offers
* Requires separate marketing agreements
Helps Credit Unions
Drive:
• Member
Retention/Loyalty
• Loan Growth
• Card Usage
• Income
Provides Members With:
• Meaningful Discounts
• Cash Incentives & Rewards
• Increased Value of
Membership
• Credit unions integrate the various discounts into their
value-proposition and connect/promote them with their
core services to increase volume and the value of
membership. Examples:
– GM Discounts  Auto Loans
– Shop America  Credit and Debit Cards
– Sprint  Membership enhancement & revenue to
support cu initiatives
Credit unions choose to support various
offers based on their needs or goals:
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Big Ticket - GM Preferred Pricing / Auto Nation Direct – provide opportunities
to generate deeper loyalty and additional auto loans
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Sprint Wireless Services* – Personal and business wireless provides
opportunity to earn additional non-interest income
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Membership Value – Sprint*, TurboTax*, and Member Connect* to deepen
membership value and loyalty
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Member Rewards – Shop America and all other Partner offers – provides
opportunity to generate deeper loyalty and increased credit/debit card
transactions
For complete details or to sign up visit:
http://www.lovemycreditunion.org/Credit_Union_Sign_Up_Forms_147.html
*
Requires separate marketing agreement
Partner Center provides credit union
related information
Credit Union Finder so potential
members can find you
Tips and tools to help members save
money
Consumer information on credit union
differentiation
Rotating banners regarding current offers
Access via social media sites
Member testimonials about why they
love their credit union
Metric
Program to Date
(Dec 08 – Dec 11)
League Participation
46
# Supporting Credit Unions
3,330
% of CU membership
80%
# of CU members
# Vehicle Sales
# Sprint Supporting CUs
# Sprint Activations
72,172,305
492,603
1,572
1,373,987
$ CU Members saved on Autos
Over $335 million
$ CU Members saved on Sprint
More than $165 million
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State CU total in NJ = 206
NJ CUs Signed Up for IIA = 89 or 43.20%
2009 GM CU Sales in NJ = 1,210
2010 GM CU Sales in NJ = 841
2011 GM CU Sales in NJ = 761 / Total GM = 2,812
2009 Chrysler CU Sales in NJ = 596
2010 Chrysler CU Sales in NJ = 175 / Total Chrysler = 771
• Grand Total IIA Auto Sales to date in NJ = 3,583
Eligible credit union members can purchase vehicles at the Preferred Price, which is a special
discounted price that is less than the MSRP. The Credit Union Member Discount from GM can be
combined with most current incentives to save even more.
• Preferred Pricing on GM vehicles to help drive loans
• CU loan links on GM discount microsite
• Generated over 490,000 auto loans since inception
• Promote greater member savings with your low loan
rates on top of the GM discount
• Enhance value of membership
• Members can save hundreds, even thousands, with
GM’s preferred pricing on a new Chevrolet, Buick or
GMC Vehicle
• Members can access their credit union’s loan
application right from the IIA GM credit union
microsite
• Members can stack the discount with most other GM
incentives for additional savings
Credit Union Loan links on GM
micro-sites:
Find a Credit Union tab added
below Find a Dealer
• IIA is currently collecting credit
union loan page links to add to
our micro sites:
– Easy access to your loan app or
loan page
– Drive more auto loans to your
credit union and extend GM
Preferred Pricing to your
members
GM Credit Union Micro Site
Special Promotions
• GM Private Offer
– Ran for 2 months
• 11/2/10 – 1/3/11
– Member incentive of $1,000
– Stackable on:
• Credit Union Member Discount
• Other Public Incentives AND
• Employee Pricing.
Special Promotions
• Owner Loyalty Cash
– $1,000
– From time to time GM has
Owner Loyalty promotions
where GM owners may be
eligible to receive $1,000
toward the purchase of an
eligible GM Vehicle!
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Report s located on Partner Center and are
exportable to Excel for easy use
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GM authorization request report identifies
members that requested a code from GM
– Includes street and e-mail addresses
Hot leads you can use to follow up with members!
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Additional reports identify sales for Member
Rewards Program
Credit Union
First Name
Last Name
Address
City
State
Zip
Email
Registration Status
Date
Sample Credit Union
George
Smith
39832 Spacely Dr
Novi
MI
[email protected]
3/19/2011Requested
Sample Credit Union
Jane
Jones
25797 Coggswell
Southfield
MI
[email protected]
3/18/2011Requested
Sample Credit Union
Judy
O'Hara
45090 Rosy Lane
Farmington
MI
[email protected]
3/16/2011Submitted
Sample Credit Union
Elroy
Reed
8203 Astro Dr
Wayne
MI
[email protected]
3/12/2011Requested
Exclusive/special incentives that help drive
membership value and income for you
• Marketing incentives for participation is a great way for credit
unions to earn non-interest income
• Effective tool to promote the added-value of membership
• FREE marketing materials for statement mailings, web site and inbranch distribution
• Unique offers available only from Sprint
• Sprint handles all member service needs
• Opportunities to work with local Sprint stores to support
community businesses
• Member Discounts
– 10% off most regularly priced service plans
– Waived activation fee on new accounts
– Waived upgrade fees
• Business Discounts
– 15% discount on most corporate recurring charges
– Waived activation (new accounts) and upgrade fees
– Equipment discounts
– 20% off accessories
Contract Year = October 1 of each year – September 30 of the following year
• Place a Sprint insert in one quarterly mailing per year
• Display Sprint take ones and posters in credit union lobbies
• Publish approved Sprint articles in 2 quarterly newsletters
• Place Sprint web banner on credit union web site
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All Marketing materials are provided FREE of charge!
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Get started now and join over 1,500 credit unions already supporting the Sprint CU
Member Discount Program!
Partner
Premium
Standard
Member Offer
 10% Member, 15% Business discount
 Waived Activation and upgrade fees
 10% Member, 15% Business discount
 Waived Activation and upgrade fees
Credit Union
Requirements
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Promote Sprint Exclusively *
Quarterly statement insert mailer
Display lobby materials
Post-approved newsletter articles twice
each contract year
• Display approved Sprint Banner on CU
website
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*Credit union earns 100% potential
commission
*Credit Union earns 50% potential
commission
Non-Exclusive*
Quarterly statement insert mailer
Display lobby materials
Post-approved newsletter articles twice
each contract year
• Display approved Sprint Banner on CU
website
73 New Jersey CUs supporting / 1,572 Nationally!
Marketing Schedule
NEW participating CUs in their 1st Contract Year will receive
incentives as follows:
First Year Quarterly Insert Mailing = % of incentive CU will
earn:
• October ’11 = 100%
• January ’12 = 75%
• April ’12 = 50% - Sign Up Deadline is March 1, 2012!
• July ’12 = 25%
In the second and following Contract Years, assuming all
requirements are fulfilled, participating CUs will receive 100%
regardless of what month they do their quarterly statement
mailing.
*The Contact Year runs from October 1 – September 30 of the
following year. Marketing Incentives are paid in December.
Poster
Take-One
Web Banners
• Enhance Online Banking Services: 81% of TurboTax users also use online
banking
• Build Member Loyalty: 95% of members felt favorable toward their credit
union for making a TurboTax discount available
• Retain Members: 64% of credit union members would go to Turbo Tax directly
or go to another financial institution if it was no longer offered by their credit
union.
• Provide a Member Appreciated Discount: 52% of members purchased
TurboTax through their credit union website due to discount
• Increase Assets: 82% of CUSG credit union members directly deposited their tax
refund with the credit union offering TurboTax to them.
• Cross-Sell Products & Services: Drive traffic your website to increase awareness
about your other products and services
Partner Level
Promoter
Participant
Member Offer
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Credit Union
Requirements
• Send two or more dedicated TurboTax emails
to members (early January and mid March)
• TurboTax banner above-the-fold on your
homepage (December – April)
• TurboTax banner or Text Link above –the-fold
on on-line banking page(s) (December – April)
• TurboTax banner above-the-fold on your
homepage (December – April)
• TurboTax banner or Text Link above –
the-fold on on-line banking page(s)
(December – April)
Sweepstakes
Participation
• Enroll at the Promoter Level
• Send at least 1 email by 1/26/12 with a link to
the co-branded sweepstakes microsite
• Place a sweepstakes banner & link to the
sweepstakes cobranded microsite above-the
fold on the home page of the CUs web site &
OLB home page or account summary page
from 1/5/12 – 2/21/12
• Include sweepstakes messaging on an
insert/e-statement or newsletter by 1/26/12
• NA
15% All Federal Products
10% Federal Deluxe (only)
15%
Discount on
All Federal
Products
Standard Size and
Custom Web Banners
Co-Branded TurboTax Website with
Your CU Logo and a Cross-Sell
Banner
Free Lobby Posters and Co-Branded
Statement Inserts Shipped to Your
Mailing House
Members who start a TurboTax
return will be entered into a
sweepstakes
HTML E-mail
Templates
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Provide discounted tax prep services to the 60% of your members that prefer to file
their taxes with a local tax professional
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Premium CU member instant discount: $30.00 Off
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CUSG provides free, co-branded printed coupons to include in your December or
January statements.
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JH provides national coverage:
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Over 6,000 tax preparation offices during tax season
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Convenient office locations near the vast majority of your members
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Unlike other tax prep franchises, JH doesn’t use tax prep as a tool to acquire
customers from Financial Institutions
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FREE Accuracy Guarantee* with every paid return
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No appointment necessary
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FREE Refund Estimate
* Terms and conditions apply. Ask a tax preparer for details.
Over 300 credit unions
partnered with CUTS
last year to offer
Jackson Hewitt
1. CUSG funds and provides all marketing collateral: Coupons, statement stuffers,
newsletter articles, email templates
2. Your credit union promotes JH offering to members
3. Your members receive a hard copy coupon via statement stuffer, in-branch and/or
printing a website pdf
4. Your members redeem the coupon at Jackson Hewitt office and receive an instant $30
discount
5. JH/CUSG track all JH coupon redemptions and provide report at the end of tax season
Sample Co-Branded Coupon
• Incentives on every
day items that help
drive card usage and
membership value
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Shop America
Direct TV
Dell
Tax Services
Members Auto/Home
FTD
Allied
• Free ready-to use marketing
materials including:
•Email blasts
•Newsletter articles
•Take Ones
•E-Statement Artwork
•On-hold Messages
•Statement Inserts
•Logos
•Posters
•Website banners
• Customization and campaign
execution services available
• Monthly newsletter
• Frontline Staff Resource Guide
• National program support
• Support for Industry Initiatives
National underwriting of Biz Kid$, an Emmy Award winning
and credit union funded public television series that
teaches kids about money management and
entrepreneurship
2010
– $700k direct from IIA
– $300k more from CUs and leagues donating 10% of
their Sprint marketing incentives
• Reaches more than 192 million households each week, and
has reached 1.2 million students and teachers via the
companion classroom curriculum since the series’ launch
in January 2008
Digital FCU - MA
• At left DCU created an internal
page detailing the IIA discounts to
their members.
• DCU has been on board with IIA
since the beginning.
“Invest in America aligns with our vision
that ‘All Members Achieve Their Financial
Goals’ meaning we want to be the catalyst
and the cheerleader for our members longterm financial success.”
GM, Turbo Tax & Member Rewards!!
John LaHair
Public Relations Manager
Digital FCU
Langley FCU - VA
• At left they built the Shop
Langley page to feature IIA
discounts and offers to
members.
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GM & Member Rewards!!
“We’re always looking for ways to
enhance the value of membership. The
program has grown and now offers a
variety of great deals and our members
truly appreciate their credit union
making these savings available.”
Brett Noll
SVP/Chief Marketing Officer
Langley FCU
Hudson Valley FCU - NY
• At left they promote the GM IIA
Preferred Pricing Discount!
• They use the IIA CU member
discounts to boost their auto loan
volume & credit card
transactions.
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GM, Turbo Tax & Member Rewards!!
“We tie the IIA discounts to our core
services like auto loan, credit card and
mortgages.”
Brian Kelly
Channel Marketing Manager
Hudson Valley FCU
• Prominently display the Invest in America program marketing materials in
your lobbies - posters and take ones
• Prominently display the IIA web banner that links to
www.LoveMyCreditUnion.org, on the home page of the credit union’s
website
• Publish quarterly IIA article in credit union’s newsletter
• Use the poster as a flyer in your new membership packets and SEG
communications
• Send the emails created by Invest in America to your credit union
members who have opted in to receive communications from you
• Create an internal page on your website which lists out in detail all the
credit union member discounts available.
• Create a web banner on your homepage which links to that page for easy
navigation
• Use the videos created by CU Solutions Group in your digital displays to
encourage members to learn more about Invest in America
• Promote Invest in America on your outdoor electric signs, drive thru wraps
and ATMs
• Place ads in your local paper and local news websites
• Include discounts in your credit union’s Member Rewards Program
• Promote Invest in America on your most visited website pages.
Recommend steps for getting started:
• Select the IIA programs that fits your credit union’s goals and
objectives
• Visit
http://www.lovemycreditunion.org/Credit_Union_Sign_Up_Forms_1
47.html to sign up to support the IIA Big Ticket or Member Rewards
program or obtain a Sprint Marketing Agreement
• Train staff and distribute frontline staff resource guide (e-mailed the
first of every month to supporting credit unions)
• Provide Invest in America with a link to your loan application page to
make that available from the GM credit union micro site
• Utilize available materials to inform your member
QUESTIONS?? Please contact Angel Santos, Business
Consultant, NJCUL, at (609) 448-2426 ext. 109
Or
Curt Belaney
National Business Consultant, CUSG
(Connecticut, Delaware, Maine, Maryland,
Massachusetts, New Hampshire, New Jersey, New
York, Ohio, Pennsylvania, Rhode Island, Vermont,
Virginia, Washington D.C., West Virginia)
800.262.6285 x 543
[email protected]