With summertime now in full swing, the warm weather is here, the kids are off from school, and many credit union members are looking for ways to save money on summer fun. Others are simply looking for ways to stash some cash so they can have a little extra spend money for warm-weather activities or vacations.
If your credit union didn’t already make life easier with affordable financial solutions, exceptional service, convenient access options, and educational tools, many also offer special seasonal discounts and incentives for members and prospective members, especially during the summer months.
Credit Unions Cooling Off the Costs of Summer
Summertime is the perfect time for members to take advantage of special credit union offers when we’re always looking for a fun way to fill long summer days. Plus, in the current economic climate, isn’t everyone trying to save money wherever and however they can?
Northern Federal Credit Union (Watertown, NY) has a partnership with an area waterpark called Water Safari and they offer discounted rate tickets to their members at all branch locations, which can be redeemed at the park. The tickets cost $24 and the credit union offers a $4.95 discount off the regular priced adult tickets. According to Alexa Bennett Marketing Supervisor, the Water Safari program is very popular selling about 4,000 tickets a year. “By May our members are already calling and asking when we will have tickets, and the park usually doesn’t open until mid-June!”
Additionally, the credit union’s discount partnership with Cove Haven Resorts in the Poconos of Pennsylvania picks up in popularity during the summer and winter months. “Through this partnership we are able to offer our members discounts on their vacation ranging from 10 to 45 percent off,” says Bennett. To redeem the discount for Cove Haven, members can visit the resort’s website and book their getaway.
Northern Federal Credit Union also offers year-round discounts to their members including Invest in America, Sprint, and more. In order to keep members up to date on partner discounts and deals, the credit union promotes them on their website, in branches, through email blasts and in conversations with members.
“It’s all about providing our members exceptional service -- we want our members to have FUN (one of our core values) and if we can help them enjoy themselves and take a special family trip while saving money then we are all for it!” contends Bennett.
Georgia United Credit Union (Duluth, GA) just ended a spring/summer promotion on June 30, featuring their wise and humorous spokesperson, Aunt Sophie. According to Alysia Leyva, Marketing Coordinator, during the 3-month period, the credit union offered cash incentives for opening a new checking account ($25), opening a new VISA credit card ($50) or opening a new car loan ($100). Therefore, members could “make the switch” from another financial institution, and receive up to $175. “We saw an increase in our normal loan volume for this time of year and 1,569 more loan applications (approvals) over previous years.”
Georgia United promoted the Switch incentives through all of their marketing channels and through member group enrollments. “Our promotional materials were produced by Weber Marketing and even included some “scratch off” cards (for prizes) that directed members to Aunt Sophie’s micro site,” explains Leyva.
The credit union also offers Summer Skip-a-Payment on consumer loans for the month of July or August. Members can skip one of the following payment options in July or August: 1) one monthly loan payment, 2) two biweekly loan payments, or 3) four weekly loan payments.
Leyva says that members have been very positive about the cash incentives being offered this summer. “We feel it’s important to offer members these types of special promotions which can help those who may be considering giving the credit union a try -- it’s the incentive to take action.”
So while the temperatures are heating up, your credit union is helping cool down prices on summertime fun and offering options to make summer livin’ a little easier! Find out how your CU is celebrating summer by asking in the branch, reading the monthly newsletter, and checking out their website and social media channels. Not a member? Find a credit union and join today!By Cyndi Cohen