COLORADO SPRINGS, Colo. -
Lois Carlock, Ent FCU's education and event manager, said the expo not only offered financial advice, it gave members the opportunity to learn more about local community organizations, attend some of Ent's most popular seminars, enjoy light refreshments and giveaways, visit with the credit union's staff, and attend the annual business meeting, all in an informal atmosphere.
The concept worked, Carlock told the Credit Union Journal. She said attendance surpassed Ent's goal as more than 500 members and guests showed up. According to Carlock, the event was interactive, good leads were generated by Ent's business banking and mortgage representatives, and members received education and assistance.
"We were really, really happy," she said. "We didn't know what to expect as it was the first time. We held it from 3-7 p.m. on a weeknight, and it drew an older crowd. If we did it again we would host it on a Saturday to bring in more families. My advice to other credit unions that want to offer a financial expo would be to examine who they want to attract. Perhaps we could have offered car buying seminars or other things to bring in younger members."
Three vendors that work with Ent had tables at the expo. One was Elan Financial Services, Ent's credit card provider, which had two representatives present and offered giveaways. "They talked about credit card debt and using credit cards," Carlock said.
Balance, a financial fitness and consumer credit counseling service that works only with credit unions, also attended. "Our members can call them on a variety of products," she said. "Balance explains credit reports line-by-line."
America's Family, which teams with the $2.2-billion CU to offer small personal loans, explained its services. Carlock said the group works not only with low-income, but also "challenged" borrowers.
The athletic department from the University of Colorado at Colorado Springs, where Ent opened a campus service center in 2006, was on hand with its mascot, and the American Numismatic Association brought its popular traveling money exhibit.
"Several of the non-profits we partner with came and talked about what they do," Carlock said. "There were 16 agencies talking about volunteering opportunities, including the American Cancer Society, the Care and Share Food Bank, the United Way and the YMCA."
In addition, Ent offered mini-seminars on such subjects as credit scores, identity protection and "Do I really need a will?"
According to Carlock, a financial expo exemplifies the "best practice" of member involvement through a hands-on event that allows members to participate, rather than just attend. She said this type of event can be successful for any size credit union because it places an emphasis on adding member value beyond the convenience of branch locations and a menu of products and services provided.
She said relationships and partnerships exist between all credit unions, their vendors and community agencies, and "these can be leveraged to present an event that highlights the credit union difference and the value of membership."
Carlock acknowledged ROI is difficult to track on an open house event, but said, "We had a lot of good verbal feedback. We had two drawings, including one where people had to get a card initialed at all 16 tables. That drawing generated 306 entries, which I thought was really encouraging."
FOR MORE INFORMATION
www.entfederal.com
www.ElanFinancial
Services.com
www.balancepro.net
www.amfol.com
