Transcript Document

GM Premium Program Overview
Agenda
•
Goal
•
Program Success
•
Premium Program Overview
•
Real Time Loan Leads
•
Free Program Tools
•
Credit Union Integration
•
How Members Generate Authorization Numbers
•
How Credit Unions Enroll
•
Contact information
•
Q&A
2
Goal
3
Goal
Drive Loans to Credit Unions!
4
Program Success
5
Invest in America Program
• Launched in late 2008 to bring exclusive discounts to credit
union members from trusted, nationwide companies with
domestic autos at the core of the vision
• Reaches over 83 million highly-responsive and loyal
members from over 3,400 credit unions
• Web-based program, consumer website is
LoveMyCreditUnion.org
• Mobile app launched in Dec 2012, with over 100,000
downloads to-date
6
Award Winning Program
2009 CU Journal’s Innovation of the Year Award
2012 NCUF Herb Wegner Memorial Award for
Outstanding Program
“Rarely has the Awards and Nominating Committee collective scored a program so
high,” said NCUF Awards & Recognition Committee Chairman Bob Schumacher. “When
you look at the numbers that support Invest in America’s efforts, the outcome is so
overwhelming, it’s hard to grasp or comprehend all its immensity.” - Watch Award
video filmed by CUNA about IIA – IIA Video
Source - National Credit Union Foundation
7
Love My Credit Union Rewards
Program Participation
As of September 2014
Love My Credit Union Rewards Overall
3,410
Auto
2,869
Credit Unions
Sprint
1,908
TurboTax
1,335
Credit Union Auto Club
Bundle Enrollment Participation
ALL Bundle
440
As of September 2014
145
Home Bundle
5
Auto Bundle
5
IIA Bundle
3
8
Sales (thru 09-30)
Total Sales
Member Savings (thru 09-30)*
3,680,549
Total Savings
> $1 Billion
1,253,911
Sprint Savings
> $485 million
Auto Sales
713,794
Auto Savings
> $610 million
Turbo Tax Returns
1,806,527
TurboTax Savings
> $9.5 million
Sprint Activations
Credit Unions
*Sprint numbers through August
Credit Union Auto Loans (thru 09-30)
Auto Loans Funded
353,740
Auto Loan Value
> $7.9 billion
9
Program/Industry Highlights
Program Growth Continues to Accelerate
• 76% increase in sales September 2014 YTD vs. September 2013 YTD
– September fifth best month all-time
– May, June, July, august and September all best months since 2009
• Since September 2013 instant auto loan lead launch:
– Potential for 150,000 instant auto loan leads
– 264 new CU Premium enrollments or upgrades - 649 total Premium CUs
• CU member discount sales represent 3.7% of total GM retail sales
– Up from 3.0% full year 2012
10
Credit Union Performance
Sales by Model
PROGRAM
Credit Union
Launched 1/09
2012 % OF
GM RETAIL
2013 % OF
GM RETAIL
May 2014 % OF
GM RETAIL
3.0%
3.4%
3.7%
Credit Union 82.3%
Conquest
SOURCE: Everest owner database
Top Sellers
Premium Program Overview
12
Credit Union Member Discount from GM
Eligible credit union members can purchase NEW Chevrolet, Buick and GMC vehicles at a
discount, which is a percentage based discounted price . The Credit Union Member Discount from
GM can be combined with most current incentives to save even more.
‒
‒
‒
Fixed price, non-negotiable
Not compatible with subvented rate financing
Free marketing materials
13
Enhanced Program
October 2013 launch
14
Bigger Simpler Better
New Credit Union Member Discount from GM Program
Make
Model
Chevrolet 2014 Camaro 1LT Coupe
2014 Cruze 2LT
2014 Equinox 2LT FWD
2014 Impala 2LT
2014 Malibu 1LT
2014 Silverado 1500 Crew Cab LT 4WD
2014 Sonic LTZ
2014 Spark 2LT
2014 Suburban LTZ 4WD
2014 Tahoe LTZ 4WD
2014 Traverse 1LT AWD
2014 Volt
Buick
2014 Enclave Leather AWD
2014 Encore FWD
2014 LaCrosse Leather AWD
2014 Regal Turbo Premium 1
2014 Verano Leather
GMC
2014 Acadia SLT-1 AWD
2014 Sierra 1500 Crew Cab SLE 4WD
2014 Terrain SLE-2 FWD
2014 Yukon Denali AWD
2014 Yukon XL Denali AWD
Program Averages
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
MSRP
31,125
23,745
29,630
30,760
26,125
41,950
20,910
17,350
65,245
64,685
37,710
39,715
48,445
25,085
42,460
32,485
29,360
46,730
44,350
32,225
65,225
67,940
Old Price
$ 30,061
$ 23,213
$ 28,606
$ 29,910
$ 25,290
$ 39,500
$ 20,229
$ 17,023
$ 61,345
$ 60,741
$ 36,378
$ 38,375
$ 46,579
$ 24,575
$ 41,184
$ 31,747
$ 28,602
$ 44,862
$ 41,744
$ 30,940
$ 61,323
$ 63,878
Enhanced
Price
$ 29,720
$ 22,943
$ 28,281
$ 29,562
$ 25,002
$ 39,077
$ 20,003
$ 16,828
$ 60,680
$ 60,085
$ 35,961
$ 37,931
$ 46,045
$ 24,289
$ 40,703
$ 31,373
$ 28,270
$ 44,351
$ 41,297
$ 30,593
$ 60,658
$ 63,185
Total
% MSRP
Discount Discount
$
1,405
4.5%
$
802
3.4%
$
1,349
4.6%
$
1,198
3.9%
$
1,123
4.3%
$
2,873
6.8%
$
907
4.3%
$
522
3.0%
$
4,565
7.0%
$
4,600
7.1%
$
1,749
4.6%
$
1,784
4.5%
$
2,400
5.0%
$
796
3.2%
$
1,757
4.1%
$
1,112
3.4%
$
1,090
3.7%
$
2,379
5.1%
$
3,053
6.9%
$
1,632
5.1%
$
4,567
7.0%
$
4,755
7.0%
$ 39,239 $ 37,550 $ 37,129 $
2,110
Memo:
Additional
Savings
$
341
$
270
$
325
$
348
$
288
$
423
$
226
$
195
$
665
$
656
$
417
$
444
$
534
$
286
$
481
$
374
$
332
$
511
$
447
$
347
$
665
$
693
5.4% $
421
15
GM Premium Level Benefits
•
•
•
•
•
•
•
•
•
•
•
Credit Union Member Discount from GM – not compatible with subvented rates
Employee Pricing for credit union employees that own a non-GM make vehicle
Loan links on GM microsite
Custom inserts and take ones
Custom size web banners
Onserts
Lobby Posters
Newsletter articles and email copy
Email templates
Social media content
Weekly summary of member activity
Plus, Real-Time Loan Leads!
16
Marketing Requirements
• Quarterly member communication
– Complete at least one member communications each quarter for
four quarters, annually.
The TurboTax program must be marketed in Q1 only in addition to the marketing requirements for
the bundle program or other individual program. Please see the TurboTax marketing requirements
below.
Member Quarterly Communication Tactics






Quarterly paper statement inserts or e-statement onsert, must reach at least 95% of members. (Text only
statement messaging is not acceptable to meet requirement).
Direct mail promotion to at least 75% of members.
Quarterly newsletter article and/or ad, must reach at least 95% of members.
Email marketing message – can be used to fulfill one quarterly requirement if credit union will email to at
least 50% of members. If credit union will email to 75% or more members, this tactic can be used multiple
times.
Program banner and URL link on home banking/online banking pages for at least one quarter. Can only be
used to fulfill one quarterly marketing requirement. This option is in addition to the web banner
requirement.
Sprint ONLY Additional Option
 Invite Sprint (through CUSG) to participate in the credit union's member day event at the credit union
- providing Sprint space to set up information. (Must have a member base of at least 5,000 members).
17
Marketing Requirements
• Website Promotion
– Multi-partner program banner placed on the credit union
website home page within 30 days of enrollment and ongoing
thereafter as long as your credit union is enrolled in the
program.
• Lobby Promotion
– Place program lobby materials (paper or digital) in all credit
union lobbies within 30 days of enrollment and continuously
thereafter.
• Employee and SEG Communication
– Include program information in human resources new hire and
employee group packets within 60 days of enrollment and
ongoing thereafter.
18
Real Time Loan Leads
19
How it Works
• Credit unions integrate the Credit Union
Member Discount from GM into their
marketing and auto lending programs
• Credit unions manage their members and
control the deal
– The loan is the credit unions to own and requires
proactive member engagement early in the
purchase process
– Auto financing is a big profit center for dealers
20
How It Works
•Member receives credit union communication(s) about GM Credit Union Member
Discount, low auto loan rates and pre-qualification
•Insert, Email, Newsletter, Promotion, etc…
•Member generates authorization code and credit union is immediately notified
•CU immediately contacts member and gets pre-qualified/pre-approved for CU auto
loan
•If credit union utilizes indirect lending, the loan lead should be incorporated into
that process
•Member goes to dealer and purchases vehicle
•Credit union books the auto loan
21
Real-Time Auto Email
22
Free Program Tools
23
Real Time Contacts
Provide accurate contact information for loan leads!
24
Loan Link
Credit unions can now easily provide their loan
link to IIA!
– Provides easy access to your loan app or loan page
– Drive more auto loans to your credit union
– Use your scorecard to provide your loan link
25
Marketing Resources
• Free ready-to use marketing
materials including:
Email services
Newsletter articles
Take Ones
E-Statement Artwork
On-hold Messages
Statement Inserts
Logos
Posters
Website banners
Custom Inserts
Custom Size Banners
• Onserts now available!
• Customization and Campaign
Execution Services Available
• Monthly Newsletter
• Frontline Staff Update
• National Program Support
26
GM Premium – Custom Insert
Variable Fields
• Credit union name
• Credit union URL
to direct members
where to apply for
loans
• Credit union logo
• Loan rate
• Web disclaimer
27
Best Practices
Navigant CU - RI
28
Credit Union Integration
29
Credit Union Integration
•
Prominently display the GM marketing materials in your lobbies
•
Utilize custom statement inserts/take ones
•
Publish a GM discount article in credit union’s newsletter/e-newsletter
•
Email your credit union members raising awareness of the GM
discount
•
Prominently display the custom size GM web banners that links to the
GM member discount page
•
Use the poster or customized take one and incorporate into your new
membership packets and SEG communications
•
Develop a process with your indirect lending activity
30
How Members Generate
Authorization Number
31
GM Microsite
Same URL:
www.mygmdiscount.com
Members create an account
Members generate their
authorization number
32
Create Account – Step 1
33
Create Account – Step 2
34
Create Account – Step 3
35
Generate Authorization Number
Member is emailed username and password which they
use to sign in to generate their authorization number
36
How Credit Unions Enroll
37
New Bundle Enrollments
•
In an effort to simplify and streamline marketing efforts LMCU
Rewards now offers bundled partner groups
– All – includes GM and all partners
– Auto – includes GM, Auto Club and TruStage
– Home – Includes Sprint, TurboTax, DirecTV, Allied, Love to Shop
– Invest in America – includes GM, TurboTax, Auto Club and
TruStage
•
Bundles enable a CU to market all programs with one execution
greatly simplifying program marketing requirements while maximizing
resource efficiencies
38
Partner Center Home Page
http://www.lovemycreditunion.org/Partner-Center-145.html
39
New Enrollment Process & Bundles
All bundle highly
recommended for
maximum
program benefits
and marketing
efficiency
40
GM Enrollment
41
Contact Information
42
Contact Information
Please contact your National Business Consultant with questions
-or-
Drew Cook
CU Solutions Group
Direct: 734-793-4273
[email protected]
43
Q&A
44