Membership Enhancement
Program 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
Automotive
(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
Sprint
(Jan 06-June 09)
25
League Participation
23
600
# Supporting Credit Unions
455
$50M
$ Saved by members
$25.2M
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.catholicp
arishesfcu.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.clevepolice
cu.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.
Contacts
CUcorp
• Kim Irwin – 800-262-6285 ext.250,
kim.irwin@cucorp.com
• Curt Belaney – 800-262-6285 ext.543,
curt.belaney@cucorp.com
• Leslie Norush – 800-262-6285 ext.542,
leslie.norush@cucorp.com
• Colleen Meek - 800-262-6285 ext.530,
colleen.meek@cucorp.com
• Lisa Robinson – 800-262-6285 ext. 539,
lisa.robinson@cucorp.com
• Alan Babcock – 800-262-6285 ext. 252,
alan.babcock@cucorp.com
Membership Enhancement
Program Update
July 2009