Mon-Oc Lures $3.5 Million In Deposits InWeeks
TOMS RIVER, N.J. - (03/29/05)During a seven-week promotion,Mon-Oc FCU said it attracted $3.5 million in total deposits in aspecial 13-month certificate and IRA. Dubbed the "Lucky 13," theproduct offered in addition to the 13-month term an APY of 3.13%and required a minimum deposit of $13,000. Thirty-two of the 102accounts opened were from new members who joined the CU. Theaverage service balance on the certificates was $41,821; theaverage service balance on the IRAs was $33,706. Advertisingincluded local newspapers, branch posters, flat-screen branchdisplays, web graphics and more.