PORTLAND, Ore.-Just in time for the holidays-and the dive in Wall Street stocks-Unitus Community Credit Union is offering 16 $500 shopping sprees to help members through the difficult economy. The promotion, which selects eight winners on two separate occasions, is also aimed at helping drive growth at the credit union.
"We've heard that members have cut back and they really can't go out and shop the way they used to and are not sure what they're going to do for the holidays," said Laurie Kresl, VP of planning and business development for the $755-million credit union. "I was talking to one member who said he doesn't generally shop for most of his Christmas gifts at Wal-Mart, but he probably will this year."
Kresl believes the timing is right for the promotion that's open only to new members who take a Unitus checking account. "Retail sales are down, as we know, and everyone is giving out gas cards. This is something that's a little different and a way for members to buy some gifts for their families," Kresl added.
Unitus is spending $12,000 on the campaign and needs "a couple hundred" new members to break even, according to Kresl. "I think we will do that easily," she said. "Our growth numbers for the month are already up more than 1%."
The credit union is advertising the shopping spree in local newspapers, and on the radio and web. The effort runs through the second week of December. "You shop, we'll spree" is the headline, and copy addresses how "Unitus can help you during the holiday season buy the things you need for your family." That pitch also appears in short form on small "business cards" the CU developed for the promotion.
"The cards have abbreviated information about the campaign," Kresl explained. "We carry those with us and hand them out in the community. That has worked very well."
Unitus will hold drawings for one $500 winner at each of its eight branches, once before Thanksgiving, and again for "last-minute shoppers" the week before Christmas. "We thought about purchasing gift cards to shopping malls, but we didn't know how convenient that would be for members," Kresl said. "They can choose for us to purchase a gift card to the mall of their choice, or have the money deposited into their accounts."
