Deere & Company Credit Union is reporting a significant enrollment boost in its online bill payment services following a series of "dramatic promotions" on its website.
One ad includes a photograph of a man with his head in his hands and a headline that reads: "Tired of spending Sunday nights at the kitchen table paying bills?"
About 30 new members enroll in the credit union's online bill payment service each month, which will allow the credit union to meet its goal of enrolling 325 subscribers this year, for a total of 900 enrollees by year-end. Deere & Co. Credit Union offers online bill payment using PayLynx, a solution offered by St. Petersburg, Fla.-based PSCU Financial Services.
Deere & Co. Credit Union also offers its members the ability to view credit card information and pay monthly bills through PSCU-FS' EasyToCUInfoLink service. "This service allows cardholders to register any existing credit card account, and view transaction activity from the last three statements as well as transactions posted since the last statement," the company said. Transactions can be downloaded to money management programs such as Quicken and Money. Both PayLynx and EasyToCUInfoLink services can be accessed with a single secure log- in.
Tonya Sacrison, Deere & Co.'s e-branch manager, noted that the credit union has also cut tech support costs, as it reported its site receives about 30 online loan applications every month and its financial planning services averages 275 hits a month. The credit union markets its home banking services in its newsletter and through periodic demonstrations at its sponsors' centers in Moline and Raleigh, N.C.
"Almost 40% of the credit union's checking account members actively use online banking services, and these members have higher average balances and use more services than other members," according to Sacrison.