Workers Credit Union is looking to boost is membership numbers while also doing some good.
In a new holiday fundraiser, the Fitchburg, Mass.-based credit union will donate $5 to the Worcester County Food Bank for every new member that joins. The credit union will also donate $5 every time a member – either new or existing – downloads its mobile app.
The credit union aims to raise at least $10,000 for the food bank while also increasing its new members and usage of its mobile app.
“It’s not just about getting new members,” said Alysa Duval, vice president of marketing at Workers. “It’s also about letting existing members on this as well.”
The $1.8 billion-asset Workers targets adding between 1,000 to 1,200 new members per month while its mobile app is usually downloaded between 400 and 600 times per month. It is hoping to increase both of those numbers by 10 to 15 percent by Dec. 31 when the campaign ends.
Duval hopes that once members download the mobile app, they realize Workers offers the same technology and services as larger institutions. Services include transferring balances, paying loans and depositing checks remotely. Hopefully that hooks them permanently.
“When [members] open the mobile application and see the functionality of it, maybe [they’re] comparing it with [their] existing financial institution and realizing it’s up to par with the big banks and their current financial institution and they make the switch,” she said.
Workers is using social media, including Facebook posts, and targeted advertising through Google to promote its holiday campaign. The credit union has also partnered with a local Boston radio station and will run 15 second commercials to promote their charity efforts.
Though the credit union has never run anything like this current member drive before, it does have an annual program called GiveBack. That program provides payouts to members based on Workers’ financial performance. Members can then choose to donate their payouts to a charity of their choice.
GiveBack has returned more than $10 million to community members and organizations over the last five years, said Sandra Sagehorn-Elliott, chief operating officer at Workers.
As for the current drive, for every $1 received, the food bank will distribute $4 worth of food. The donations will go directly to the food bank’s budget, according to Jean McMurray, the food bank's executive director, and Sally Hodgerney, development coordinator.
“Most of the funds received are unrestricted, so that will allow us to put it wherever needed,” Hodgerney said. “Our budget is about $3 million and the majority of that goes to keeping the facility up and running. We have four trucks on the road every day picking up food, donating food, and redistributing to our network food pantries, community meal programs and shelters.”
