SAN DIEGO—Credit unions across the country last week were busy rolling out marketing messages to take advantage of Bank Transfer Day on Nov. 5.
Among those efforts:
* "Everyday is Bank Transfer Day at California Coast Credit Union," the $1.6-billion San Diego-based CU announced. "While many local institutions have geared up for this specific day, at California Coast Credit Union, Bank Transfer Day is a daily occurrence," it said in a statement to media. "New members are welcomed every day and are usually friends and family referred by current members who understand the value and benefit of credit union membership. California Coast also rewards its current members through their Coast into Cash program where members can earn up to $50 for referring a new member.
* In Tinton Falls, N.J., United Teletech Financial FCU said it "supports the Bank Transfer Day movement and aims to inform the public about the benefits of joining a credit union."
To that end, UTFFCU said it is now the "Bank Transfer Headquarters" for Monmouth, Ocean and Middlesex counties in New Jersey. On Nov. 5, it said its branches will be open extended hours "to accommodate those wishing to become a credit union member. Staff will be present at every UTF location to offer information, answer any questions, and help individuals become a member."
Also in New Jersey, North Jersey FCU said it will conduct open-house events at its branches on Bank Transfer Day, and will additionally provide a variety of incentives and invite guests to tour branches as a "means to promoting its credit union as an excellent alternative to banks."
Among the incentives to be offered by NJFCU: free credit scores and credit counseling; education and opportunity to apply for credit builder loans; $25 to guests who open accounts that day with a minimum balance of $600 or take out a loan; new personal or auto loan applications submitted that day will automatically qualify for a two month "skip a payment" every year for the duration of the loan; and loan refi apps will be considered for outstanding loans issued by other financial institutions. The credit union will also offer giveaways and have children's games.
* On New York's Long Island, three large CUs said they are all stating promotions tied to Bank Transfer Day.
Bethpage FCU, Teachers FCU and NEFCU are "working together to raise awareness about the benefits that exist when banking with a credit union versus a commercial bank," the credit unions said in a statement. (Bethpage FCU's
* In Battle Creek, Mich. OMNI Community CU is encouraging members and non-members to switch to its debit card with a drawing to win $250 in free debit card purchases each month for a year.
Those who take advantage of the credit union's free switch program to transfer their checking accounts from another institution will receive an extra entry into OMNI's "OMNI Pays in Many Ways" checking account and debit card promotion.
For every new OMNI checking account opened during the promotion period, the credit union will make a $5 donation to Bronson Children's Hospital. Another $5 will be contributed for each member who takes advantage of the credit union's free switch program.
* Philadelphia-based American Heritage FCU is now offering new members up to $130 to join the credit union in November and open a checking account with direct deposit of net pay, a no-fee debit card, onLine bill payer and e-statements.
American Heritage's print advertising now also promotes the credit union as the "Home of the Free" with a listing of many of its free services. The $1.1-billion credit union is also offering current members a $15 bounty for every new member they refer, up to $150.
