Texans Credit Union is capturing the attention of its youth market with an impressive campaign that includes free backpacks and a chance to win an iPod mini.
The "Texans Futures" student account for students ages 15 to 24 promises "your first steps to financial independence" in a two-fold, four-color brochure being distributed by direct mail, via cross-selling opportunities and through ads on it lobby plasma screen televisions.
"We knew we wanted to do some type of promotion to target that age group," said Lisa Nance, marketing specialist at TCU. "We know that if we can get them using more than one service now-especially before they go off to college-they'll continue to use us as they get older."
Texans CU with $1.2 billion in assets and 120,000 members receives an average of 60 new youth members per month, Nance said. "It'll peak around back to school time."
For example, there were 95 new student accounts in July.
In August, the first full month of the promotion, 122 new student accounts were added. The promotion cost the CU $10,000-including prizes, mail costs and printing-and will run through the end of September.
Nance said the brochures were sent to 2,500 existing members and another 5,500 went to non-members. Both groups had kids in the target age group, she said.
The copy for the brochure written by Texans CU's marketing team and designed by the Texas Credit Union League's Marketing Resources appeals to its target audience with photos of young people having fun and language they can understand.
"Our Texans Futures student account puts the power of money management in your control," the brochure states. "This account has everything you need to take control of your financial future in one convenient package."
The material also listed the benefits of credit union membership, including ownership, discount checks, free Internet home banking access, free online bill paying service, TexChek line-of-credit for overdraft protection, free Texans check and/or ATM cards and auto loan discounts.
Eligible participants who join the CU by opening a Texans Future student account receive a "Deluxe EURO Backpack" complete with a bonus pouch on the strap for a cell phone and MP3 player.
If they open both a share and checking accounts and meet balance requirements for each, they will be entered into a drawing for one of four iPod minis that store and play 1,000 songs.
Nance said the give-away items came from her own personal experience.
"I have (an iPod) myself and I knew it would be a big draw for that age group," she said, adding the backpack was added so everybody could get something.
