Members Buying Into TCU Savers Club

SOUTH BEND, Ind. - A Savers Club Program launched by Teachers Credit Union in the third quarter of 2006 to help educate members to become better consumers has attracted a whopping 4,577 members, so far. Of those, 4,391 have taken advantage of a complementary Savers Club Money Market product that helps put that education to good use, said Becky Summers, VP of Marketing and Research at TCU at the $1.7 billion asset TCU.

"We know that many of our members struggle with saving money as do most people," Summers said. "We wanted to create an environment to help them do that," Summers said TCU Savers Club Program offers money saving tips and special access to exclusive offers on products and services, money management seminars and budgeting tools via e-mail. Those without e-mail availability get access to similar information via in-branch materials and statement stuffers, she said.

"We've had such a positive response that we plan to do even more with it," Summers said, explaining that the offer will be weaved through other marketing promotions. "For example on our travel agency brochure, we have the TCU Savers Club application."

The goal, of course, is to teach the members how to save to achieve their financial goals such as traveling or buying a new car, then provide the money market product that will help them reach it, she said. The TCU Savers Club Money Market account offers higher interest rates-presently 3.25%-to members that systematically save at least $25 a month and make no more than one withdrawal per month from that account.