Visa Gift Cards Used As Premium To Attract New Members
Educational Employees CU boosted new members by nearly 2,500 in three months by giving away 10 $500 Visa gift cards.
The goal of the campaign, which ran in June, July and August, was to help attract new members to the credit union using the gift cards as bait.
All EECU members were eligible to enter the drawing for a $500 Visa Gift Card. Ads ran on television, radio, and in local newspapers. Entry blanks were available in each branch and on the website.
As an added incentive for the employees, the management team offered to provide a tri-tip lunch for every employee of the credit union, upon meeting the goal. During August, $50 gift cards were also awarded weekly to employees who referred the most new members.
EECU set a goal of 2,500 net new members was set for the campaign, and just missed that goal by 122 adding 2,378 new members to the rolls during the three-month promotion.
"Our employees worked really hard at meeting the membership goal," said Bruce Barnett, President/CEO of EECU. "Although we fell just 122 members short of the goal, we felt that our employees should still be rewarded with lunch."
Despite having just missed the goal, EECU said it wasn't discouraged. "We were still pretty happy with that," said EECU's Scott Ingram. "As you know, membership growth has been pretty flat, so it's been a real challenge, so we were pleased with the success we had."
Upon completion of the campaign, the management team delivered a lunch to each of the branches and central operations. All of the 440 employees had the opportunity to enjoy lunch with the management team.