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Membership EnhancementProgram Overview
July 22, 2009
Contents
• IIA Mission, Vision• How it Works• Opportunities for Credit Unions• Results• Why Sign Up?• Current Offers
– Ford– GM– Chrysler – Sprint
• Best Practices
IIA Mission
• To develop and promote exclusive credit union member discounts on products and services offered by American owned corporations to provide a stimulus for stronger financial results for the U.S. economy, increase credit union membership and member satisfaction.– Develop an extensive program with domestic
automakers that generates incremental vehicle purchases and credit union loans.
– Identify and expand member rewards by partnering with larger Fortune 1000 companies.
IIA Vision
Invest in America is our brand for credit union membership enhancements in order to drive growth and retention
How It Works
• CUcorp contracts with a company to offer exclusive discount programs for credit union members. Current programs include GM, Chrysler, Ford and Sprint.
• CUcorp markets the programs to credit unions directly and through individual state leagues and league service corporations.
• Credit unions that want to participate must complete the enrollment form located on www.lovemycreditunion.org under sign-up under the partner center tab.
• CUcorp provides free turn-key marketing materials to supporting credit unions to use in marketing the discounts to their members.
• Members utilize the discounts saving money and increasing the value placed on credit union membership.
Opportunities for Credit Unions
• Extremely positive press coverage that differentiates credit unions from other financial institutions by helping support U.S. jobs and our economy.
• The member discounts provide real value to members versus gimmicks offered by other organizations.
• Member enhancements provide credit unions a catalyst for membership and auto loan growth.
• Opportunities to educate members on credit union loans and benefits over “0%” financing associated with vehicle loans.
• Opportunity to partner with local dealers to obtain increased market share.
IIA Results
Objective Metric Program to Date(Dec 08-May 09)
40 League Participation 45
1000 # Supporting Credit Unions 1,802
80% % CU membership Opt-Ins 47%
400 # of Top 500 CU Opt-Ins 239
75,000 New CU Members TBD
300,000 # CU Loans 90,797
360,000 # Vehicle Sales 139,323
(Jan 06-June 09)
25 League Participation 23
600 # Supporting Credit Unions 455
$50M $ Saved by members $25.2M
Aut
omot
ive
Spr
int
Why Should a Credit Union Sign-Up?
• Get the latest program updates sent directly to the credit union point person.
• Access to special offers and discounts that can be extended to your members on top of base program benefits.
• Create account ID and Password to gain access to the Partner Center on lovemycreditunion.org which provides:– Access to free marketing materials.– Access to credit union reports and sales data.
Marketing Made Easy
• Supporting credit unions have access to a complete line of marketing materials.
• Five complete campaigns with partner approved materials including:– Suggested Web Site Home Page Layout– Posters (22” X 28” & 8.5” X 11”)– Statement Inserts– Web Banners– Newsletter Articles– E-Blast Message– On-Hold Message
• Additional informational includes downloadable webinars for implementation details, marketing guidelines, PR tips and FAQ’s.
• All materials are available to supporting credit unions on the Marketing Materials page in the www.lovemycreditunion.org Partner Center.
New Member Enhancement Marketing Campaign• In July a third Invest in America
campaign was introduced allowing credit unions to promote the entire membership enhancement program
• Materials are available on LoveMyCreditUnion.org under Marketing Resources in the Partner Center
Getting Started Is Easy• Recommend steps for getting started:
– Chose one of the available marketing campaigns.
– Incorporate the “Suggested Web Site Home Page Layout” on your Web site with the appropriate web banner that links to www.lovemycreditunion.org, where your members can learn about the program details. (see following examples)
– Place posters and statement inserts in your branches.
– Send your members e-blast messages.
– Use the prepared newsletter article in your next mailing.
– Record an on-hold message with the provided copy.
– Include a statement stuffer with your next quarterly statements.
– Consider issuing a press release.
Additional Advertising Support
• Online Media Ad Plan – CUcorp will continue online advertising and social media efforts which will include key word search optimization, advertising on key sites and social media through Twitter, Facebook, Blogger, You Tube, etc. to drive traffic to LoveMyCreditUnion.org.
• Marketing Kits – CUcorp is developing completely free (creative development and production) kits to supporting credit unions with simple marketing requirements.– Statement stuffers– Two 8 ½ x 11 posters for teller line– Direct mail to targeted list (excludes postage)
Chrysler Current Offer
• July 23 - August 31 Chrysler will run one single and strong campaign in conjunction with the “Cash for Clunkers” government backed campaign
• “Up to $4,500 cash rebate” to any consumer purchasing a Chrysler, Jeep or Dodge vehicle • If a consumer qualifies for the government program they will get double the money, or up to
$9,000!
Chrysler Brand-$4,500 PT Cruiser, Sebring Sedan & Aspen OR 0% for 72 months
-$3,500 300/300C OR 0% for 60 months-$3,500 PLUS $1,000 Bonus Cash on Town & Country OR 0% for 60 months
-$3,500 Sebring Convertible
Dodge Brand -$4,500 Avenger, Durango & All Ram Heavy Duty OR 0% for 72 months
-$3,500 Charger & Journey OR 0% for 60 months-$3,500 PLUS $1,000 Bonus Cash on Grand Caravan & Ram Light Duty OR 0% for 60 months
-$3,500 Caliber, Dakota & Nitro
Jeep Brand -$4,500 PLUS $1,000 on Grand Cherokee & Commander OR 0% for 72 months
-$3,500 Patriot, Compass & Liberty -$1,500 Bonus Cash on Wrangler
GM Current Offer
• Supplier Pricing Plus offered July 1 through July 31. For a limited time credit union members will receive Supplier Pricing Plus an additional $250
• Leasing program introduced July 1 in Florida, Northeast and Michigan markets and will run through year end.
• Pilot will start with select 2009 models from the four core brands and expand as 2010 models are launched
2009 Models 2010 Models
Malibu Equinox
Traverse Terrain
Acadia LaCrosse
Enclave SRX
CTS
Ford Lease Pilot• August 1- October 31, 2009
• Florida and the Northeast market areas.
• Pilot will include select Ford and Mercury vehicles.Ford Models Mercury Models
•Focus (excl S/SE) •Ranger •Grand Marquis
•Escape (Non Hybrid) •Econoline •Sable
•Taurus X •Expedition •Mariner (Non Hybrid)
•Mustang (excl Mustang Shelby GT500 and KR)
•F150
•Super Duty
•Mountaineer
•Explorer Sport Trac
•Explorer 4 Door
Leasing Program Overview
• Ford/GM and Lease Partner will fund a residual escrow account equal to 10% of ALG (Automotive Lease Guide) residual value to cover end of lease losses.
• Lease Partner will obtain residual value insurance to cover losses exceeding 10% of the ALG residual value.
• Lease Partner guarantees credit union full ALG amount at lease end.
• Lease Partner will handle all unique lease processes for the credit union (tax, systems, vehicle disposition, etc.)
• Ford/GM will market lease payments to general public to increase dealership traffic.
• Dealers will direct lease financing to participating credit unions.
Sprint Current Offer
• 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
Best Practices Showcase
• 1st Pacific Credit Union, California (http://www.1stpacific.org)
• 1st Pacific Credit Union is promoting the Sprint program with a banner prominently positioned on their homepage.
Best Practices Showcase
• Catholic Parishes Federal Credit Union, Michigan (http://www.catholicparishesfcu.org)
• Catholic Parishes FCU promoted the Invest in America discount to its membership in their newsletter and offered an additional 0.25% rate reduction on loans for domestic automobiles.
Best Practices Showcase
• Cleveland Police Credit Union, Ohio (http://www.clevepolicecu.com)
• Cleveland Police Credit Union is offering members a $100 gas card when a member finances a new Chrysler or GM vehicle through the credit union.
ContactsCUcorp • Kim Irwin – 800-262-6285 ext.250,
[email protected]• Curt Belaney – 800-262-6285 ext.543,
[email protected]• Leslie Norush – 800-262-6285 ext.542,
[email protected]• Colleen Meek - 800-262-6285 ext.530,
[email protected]• Lisa Robinson – 800-262-6285 ext. 539,
[email protected]• Alan Babcock – 800-262-6285 ext. 252,
Membership EnhancementProgram Update
July 2009
