Transcript League/LSC Quarterly IIA Update

Wednesday July 16th, 2014
1. Credit Union Participation
2. IIA Stats
3. Partner Updates
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GM
Credit Union Auto Club
Sprint
4. Program Updates
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Love My Credit Union Rewards
5. Wrap-Up and Questions
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Over 3,500 credit unions support one or more IIA programs!
Program Support Continues to Grow!
IIA Participation
2011
2012
Through
06/30/2014
IIA Overall
3,314
3,400
3,572
Auto
2,617
2,772
2,869
Sprint
1,560
1,806
1,907
ShopAmerica/Member Rewards
2,547
2,602
2,632
TurboTax
955
1,142
1,364
Credit Union Auto Club
N/A
N/A
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Credit Unions
Check on the status of your credit unions with the League Reports at:
http://www.lovemycreditunion.org/Additional_Invest_In_America_Reports_for_Leagues_272.html
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Sales (thru 06-30)
Total Sales
Member Savings (thru 06-30)
3,680,549
Total Savings
> $1 Billion
1,221,491
Sprint Savings
> $470 million
Auto Sales
663,398
Auto Savings
> $547 million
Turbo Tax Returns
1,806,527
TurboTax Savings
> $9.5 million
Sprint Activations
Credit Unions
Credit Union Auto Loans (thru 03-31)
Auto Loans Funded
333,582
Auto Loan Value
> $7 billion
Check on the status of your credit unions with the League Reports at:
http://www.lovemycreditunion.org/Additional_Invest_In_America_Reports_for_Leagues_272.html
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GM
Program Accelerating - Instant Auto Loan Leads and a Strong Industry
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60% increase in sales Q2 2014 vs. Q2 2013
– May and June back to back best months since 2009
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Since September 2013 instant auto loan lead launch:
– Nearly 102,000 instant auto loan leads
– 172 new CU Premium enrollments or upgrades - 566 total Premium Cus
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CU member discount sales represent 3.7% of total GM retail sales
– Up from 3.0% full year 2012
Action Requested – Participating Leagues
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Follow-up with enrolled CUs to ensure marketing requirement compliance
Continue to work with non-premium CUs for enrollments and upgrades by promoting
the value of instant loan leads
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Credit Union Auto Club
Non – Participating Leagues
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AZ/CO/WY
CA/NV
GA
IA
KS
LA
ME
MN
MS
MT
NC
ND/SD
PA
SC
TX/AR/OK
UT
VA
VT
WV
Forfeiting marketing reimbursements $5 to $9
AAA is a bank competing for your members financial needs
339 enrolled CUs nationally
Product Enhancements Under Review to Differentiate Offer
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$500 auto insurance deductible reimbursement (ADR)
50 or 100 mile supplemental towing radius option
Action Requested – Participating Leagues
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Follow-up with enrolled CUs to ensure marketing requirement compliance
Continue with efforts to enroll CUs in the program – drive your marketing
reimbursements
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Sprint Program Enhancement
Boost Mobile Prepaid
Boost Mobile is one of Sprint’s award-winning prepaid brands, offering wireless phones and
services with no long-term contracts. This discount is an enhancement of our existing exclusive
agreement, so there is no need to sign an additional agreement/amendment.
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Available to members online - easy and convenient
5% discount off of online purchases (with exclusive credit union promo code)
Discount applies to devices and accessories
Discount applies to entire site, not limited to certain
devices or promotions
Member verification is NOT required
Plans start as low as $40 per month for unlimited talk, text
and data
No contracts required
Boost Mobile redefines value for wireless consumers with its Monthly Unlimited with Shrinkage
no-contract service, where the longer you stay the less you pay with on-time payments for
unlimited voice, text and data. Boost Mobile offers nationwide service on the Sprint Nationwide
Network, reaching more than 281 million people, with no activation or long-distance fees. Boost
Mobile offers a selection of quality handsets from LG, Motorola, Samsung, Kyocera, ZTE, HTC and
of course Apple, including the 4s, 5s and 5c. Additionally, Re-Boost® cards are available at
approximately 100,000 locations throughout the United States.
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Sprint Updates
Contract Year Changes
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Beginning in 2015, a Contract Year (October 1 – September 30) will move to Calendar Year
(January 1 – December 31)
2013-2014 Contract Year marketing Incentive - Paid out in December 2014
October 2014 – December 2014 to be added to the 2015 Calendar Year = 15 month payment
span: October 2014 – December 2015) to be paid out Q1 2016
Audits
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Web site Audits began Monday, July 14
Web banner ad and link
Newsletter articles/ads
Exceptions
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At this late time in the Contract Year, CUSG is only considering exceptions for credit unions
needing to make up for one aspect of the marketing requirements (i.e. one quarterly
newsletter). Standard quarterly newsletters are distributed in October 2013, January 2014,
April 2014 and/or July 2014). If so, please send it our way and I will take a look and then
work out an exception for the second newsletter.
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Exceptions
Exceptions are made on an individual basis and are evaluated each Contract/Calendar Year. Exceptions
are made when a credit union is not able to fulfill a minimum marketing requirement because they do
not produce that type of medium; not because they did not want to do it or because they forgot.
Marketing Exception Considerations
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Does the credit union produce newsletters either paper or electronic? Quarterly? Monthly?
Is the credit union willing to do additional inserts? Quarterly? Monthly?
Does the credit union distribute email blasts? What % of their membership does it reach?
Does the credit union do statement messaging?
Does the credit union do social media (Facebook, Twitter)? What % of their membership
follows?
Are there additional marketing tactics that the credit union uses?
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Invest in America has become
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Overview
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Why the change?
New marketing requirements
New enrollment options
What should CUs do?
How to enroll
Outbound communication
What’s next
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Why the change?
• Research in 2013
– Credit Unions, Credit Union Members, Corporate Partners
• New name
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“Love My Credit Union Rewards” resonated with members
Matches our existing URL – offers brand continuity
Stronger connection to credit unions
Allows partnerships with non-U.S. companies
• Operational Improvements
– Confusing/complex marketing requirements
– Not enough room to market IIA programs AND credit
union’s own products
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The New Program
…..saving members money
…..growing loan portfolios
…..acquiring new members
…..garnering member loyalty
…..earning non-interest income
JUST GOT EASIER!!!
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Confusing/Complicated …
• New marketing requirements that are easier for
everyone
– Standardized across all individual programs
• One direct-to-member communication for at least 3 of
4 calendar quarters
• Banner placement, home page preferred, within 30
days of enrollment and continuously thereafter
• Lobby materials displayed continuously
– Easier, plus greater flexibility with member
communications
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Too many marketing materials
• New enrollment options
– Help credit unions market their own products
AND LMCU Rewards products
– Bundles
• All, Auto, Home, Invest in America
• Multi-partner materials to satisfy marketing
requirements
• Examples:
– Multi-partner banner
– Multi-partner newsletter article
– Multi-partner email
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How does that look?
• Auto Bundle (GM, Credit Union Auto Club, TruStage)
– Examples:
• Banner with GM, Credit Union Auto Club, and TruStage
logos
• Newsletter article with GM, Credit Union Auto Club,
and TruStage
• Email with GM, Credit Union Auto Club, and TruStage
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Invest in America Bundle
• Invest in America is still around?
– Yes. To continue to show credit union support for U.S.
based companies, Invest in America will still be
displayed as a category on the website homepage; and
the logo will appear on the discounts that are from U.S.
based companies.
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What Should CUs Do?
• What do credit unions need to do?
– Remove materials with the IIA logo and replace them with the new
Love My Credit Union Rewards materials. These will be available on
July 25. Bundled marketing materials will be available August 1.
Detailed directions are available for them on the partner center.
• Can they order these materials now?
– Some Sprint materials are available – newsletter articles, email
messaging, etc.
– Overall - Ordering freeze
• Avoid producing excess materials that will be outdated in a few weeks.
Any attempts to order materials from the partner center will be
redirected.
• If someone has a special need, please contact client services to explore
options.
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Ready for More Enrollment
• Visit the partner center
• Your scorecard is now myDashboard
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Live Site Demo
• http://www.lovemycreditunion.org/Partner-Center1058.html
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Quick things to know
• You can still enroll in individual programs
• If you are currently enrolled in multiple partners, you
will not automatically be enrolled in a bundle. Visit
the partner center to enroll.
• If you enroll in the ALL bundle, you will receive the
Sprint agreement in your confirmation email, which
will need to be completed and submitted.
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Outbound Communication
• June
– Teasers at AC&E, ACUC
– Signage
– Postcards
• July
– LMCU Rewards Newsletter
– Weekly emails to educate
– July 25 – member-facing materials available
• August
– Member site launch
– Bundled marketing materials available
– New League Sales Kit published
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Conclusion
• Excited for this rebrand!
• Happy to make the program more successful and
accessible to all credit unions
• Keep watching your email & the partner center for
updates
• Contact your national business consultant with any
questions
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Questions/Concerns
MARK YOUR CALENDARS!
Upcoming League Update Webinars
Wednesday October 15th 2014 - 3pm EDT
Wednesday January 21st 2015 – 3pm EST
Wednesday April 15th 2015 – 3pm EST
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WRAP UP & QUESTIONS
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