Federal Credit Union Scratches Their Way to a 5% Deposit Increase
...From the Case Files...
Company: Federal Credit Union
A Federal Credit Union needed an innovative promotion to help face two issues threatening their future competition from local banks and declining deposits from existing members. Existing members were having a difficult time trying to save money and the local banks were trying hard to get their attention and sway them from the credit union. The credit union needed a promotion to retain their members and convince them to start saving money.
Scratch and Win game encouraged members of the credit union to start saving more. They gave each member who made a $100 or more deposit to their account a game card.
The prizes included 0.25% off a new auto loan, or a key chain, tape measure, tote bag, or travel mug. The credit union saw a 5% increase in share deposits during the promotional period!
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Posted on Thu, September 26, 2013
by Ghost Chili Admin filed under