Four Excellent Ideas Your CU Can Adopt
Awards honor marketing and business development excellence.
The CUNA Marketing & Business Development Council announced the Excellence Award winners during its annual conference in Orlando, Fla., March 12-15.
The Excellence Awards recognize outstanding new marketing and business development approaches with potential for universal application across the industry.
A panel of judges selects winners based on strategy, process, application, and results, without regard to asset size.
Representatives from the winning credit unions accepted their awards at the conference.
FAA Credit Union, Oklahoma City; $552 million in assets
Program: Credit Score Analysis
FAACU designed the program to help individuals save money by evaluating their credit report line-by-line to determine:
- Why the score is high or low;
- How to raise their score, if needed; and
- The best deal for a member now, and their savings once their score improves, by calculating interest rates on all loans.
FAA also conducted seminars with this information condensed into one-hour sessions, and allowed members to calculate possible savings through an online portal.
COMMUNITY OUTREACH / POLITICAL ADVOCACY
Service 1st Federal Credit Union, Danville, Pa.; $16 million in assets
Program: Community Outreach—Raising $35,000 for Local Charities.
Service 1st Federal aimed to support the community by donating at least $7,500 each to three charities. The credit union chose to support Janet Weis Children’s Hospital, SUNCOM Industries, Inc., and the Montour Area Recreation Commission (MARC) by hosting a Duck Derby along the Susquehanna River. Thousands of rubber ducks raced to the finish line and exceeded fundraising goals.
American Airlines Federal Credit Union, Fort Worth, Texas; $5.6 billion in assets
Program: Branded Partner Debit Card Beta.
The credit union launched a debit card branded for Virgin America, a client that directly competes with its sponsor company, American Airlines. This card is fully branded in the partner's image and absent of any elements that would tie it to American Airlines by the consumer.
American Airlines Federal benefited greatly from the project, positively affecting membership penetration, increasing checking penetration, and significantly increasing debit card unit transactions and dollar volumes for existing account and new account holders.
Bellwether Community Credit Union, Manchester, N.H.; $388 million in assets
Program: Easy Awards.
The credit union rolled out its brand: Bellwether–Where Easy Adds Up! along with four pillars of the brand, and provided training to employees. Bellwether Community wanted to ramp up and reinforce the effort, refresh the brand with the staff, and integrate the "DIME" ("Did I Make it EASY?") rewards program with employees (in which coins can be saved up, and when the employee collects 20, they can be turned in to receive a $50 gift card).
Employees received a coin imprinted with the Bellwether logo and four pillars in recognition of performing a task, project/assignment, or a new idea that made things easier for members. The program is an opportunity to emphasize the brand, recognize employees, and re-energize the team to live the brand.