GRANITE CITY, Ill. - With its debt-wary members facing down high travel costs during what would otherwise have been a big vacation season, one credit union found a way to whet its members' appetite for hitting the road this past summer.
The $230-million GCS FCU ran a month-long vacation loan promotion this summer that netted $21,000 in vacation loans and doubled the normal amount of loans for motorsports in June.
Each week showed off a certain vacation destination, such as Mexico, Texas, Florida and Hawaii, as GCS employees decorated the branch, themselves and even their cub mascot in appropriate attire for that week's theme.
"We wanted something fresh and new to get the employees pumped. Something that they could get involved in and have fun with," said Nicole Thorp, assistant marketing manager for GCS FCU.
When members entered one of GCS's five branches in southwest Illinois, the were greeted by cowboys, beach-goers and island-dwellers, depending on the week, and that both cheered their day and piqued their curiosity.
"When the employees are happy and walking around in funky looking costumes, it makes it fun for the members and it makes them curious," said Thorp. "It was awesome. We were kind of leery with the participation we would have, but we had a ton of participation."
Not only was the month-long promo fun for employees who dressed up each Friday, but their hard work pushing the vacation loan program paid off for those who took the promotion to the extreme. During the Hawaiian week, judges chose who was dressed up the best at each branch, with the winners taking home a summer backpack cooler with a beach towel and sunscreen. The winners were also entered into a grand prize drawing to win a pizza party for that branch; one employee also scored a $250 Visa gift card.
Thorp said that the Floridian and western weeks received the most enthusiasm, complete with "decorations galore." Even the company's cub mascot got into the act as he was dressed as a beach bum one week, a cowboy the next and donned a sombrero in another.
The credit union plans to put on a similar promotion in 2009 as it definitely boosted the bottom line in an economy where many individuals are putting off plans to travel or buy that new recreation vehicle.
"I would say that would try to do it again next year, it was pretty fun and successful," said Thorp.(c) 2008 Credit Union Journal and SourceMedia, Inc. All Rights Reserved.http://www.cujournal.com/ http://www.sourcemedia.com/
