WAYNESVILLE, N.C-Champion CU learned that giving away cash certainly attracts people to a branch grand opening-1,200 residents in one day.
That total was almost double the turnout expected, Marketing Director Cathy Arrington told Credit Union Journal. "We were hoping to make a big splash with a unique branch opening promotion. Instead we got a tsunami. It was insane. We had to call in support from our other branch."
Some people drove three hours to add to a line that snaked a block and a half outside the credit union by 7a.m. the morning of the grand opening. Many were on hand to get their chance to grab as much money as the could in 10 seconds inside the CU's cash machine, stocked with $3,000 in bills-mostly singles-that were blown around via fans.
"We had to eventually cut down the time to eight seconds to get all the people in line through, and because we were giving away so much money," said Arrington, who noted that the credit union restocked the machine and gave away more than $3,000. "I could not believe that one man actually stuffed $109 in singles in his two fists. The rule was that you had to have the money in your hands only and could not pick up bills off the floor."
Champion also stashed vouchers for money in bright green envelopes all over this town to encourage residents to come by (Credit Union Journal, May 10). The $143-million CU hid $3,000 in cash vouchers in the downtown area the night before the grand opening. "One young couple got out at 3 a.m. to get a jump on everyone," Arrington said. "They found two envelopes."
Arrington said Champion has yet to track the number of new members who signed up at the grand opening, but said it was easily the best grand opening anyone at the credit union had been involved with. "We even made two business loans," she said.
