league/lsc monthly update wednesday, february 17, 2010
TRANSCRIPT
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League/LSCMonthly Update
Wednesday, February 17, 2010
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Contents• Top LSC’s• League Agreement Status• League Best Practices• Why Support Member Rewards• What’s New
– DirecTV– Love MyCreditUnion.org
• Updates– Costco
– CompleteTax
– Sprint
• Credit Union Survey Results• 2010 LSC Communication Schedule
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Top LSC’s (Thru 1/31/10)
Auto Sales Sprint Supporting Credit Unions
Texas 35,339 Michigan 212
Michigan 18,518 California/Nevada 50
Florida/Alabama 16,018 Texas 37
California/Nevada 12,704 New York 33
Pennsylvania 11,763 Florida 30
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League Agreement Status (Thru 2/16/10)
Program Big Ticket Sprint Member Rewards
Endorsement Level 14 3 5
Partner Level 31 28 19
Total Leagues Supporting 45 31 24
Thanks for your support!
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League Best Practices
The Credit Union League of Connecticut introduced Invest In America to credit unions through their Newsletter.
The Credit Union Association of New York conducted a webinar to provide an overview of Invest in America.https://www.cuany.org/IIAwebinar020310
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League Best Practices
The Maine Credit Union League conducted a webinar to provide credit unions an overview of Invest in America
The Arizona Credit Union League started 2010 off strong promoting Invest in America in their monthly newsletter
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Why Support Member Rewards
• Credit union members receive exclusive discounts on the products and services including Costco, FTD, Allied and DirecTV
• Over 800,000 credit union members have saved through these exclusive offers
• Member Rewards increases the value of credit union membership by promoting more than traditional financial products and services
• Your credit union can earn annual marketing incentives by endorsing the Member Rewards discount program
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What’s New
DirecTV Partnership• Offer
– $5 off per month on subscription (first 12 months) on top of other DirecTV promotions– Members receive $15 deposited into their credit union savings/checking account– DirecTV and CUcorp will also donate $10 to the Children’s Miracle Network
• Promotes savings• PR opportunity for charitable donations
• America's #1 Satellite TV service for the past 15 years
– Ranked higher in customer satisfaction than major
cable TV providers for 9 straight years– Over 18 million households– Most HD channels– More sports
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What’s New
• Updated home pages matching credit unions and leagues levels of support
• A new email opt-in
feature for credit union members to enter their email address and receive program updates
Lovemycreditunion.org
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What’s New
• GM’s consumer save page has been updated to include a build and price feature
• Enables easier navigation and instructions on how to receive the credit union member discount
Lovemycreditunion.org
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What’s New
• Chrysler’s consumer save page has been updated to include a build your own and price feature
• Enables easier navigation and instructions on how to receive the credit union member discount
Lovemycreditunion.org
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What’s New
Learn Landing Page
•The Learn landing page has been updated to incorporate CU Villages’ Financial Resource Center
•The Learn landing page offers a variety of consumer financial information
– Calculators
– Worksheets
– Educational articles
Lovemycreditunion.org
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Updates
Costco Goes Live!• Through June 30, 2010, with six month auto renewal• Credit union members may purchase Costco memberships or
upgrades to existing memberships for $50• Membership Certificates can be used by credit union
members or purchased as a gift for family and friends• For every membership purchased,
member receives coupons for free or
discounted products of over $50 in
value!
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Updates
CompleteTax• Great Savings for members
– With the exclusive credit union member 30% discount, CompleteTax is as much as 56% less than TurboTax:
• Great Product– Voted best online tax service by TheStreet.com
http://www.thestreet.com/story/10676009/1/the-best-online-tax-services.html http://www.thestreet.com/print/story/10213044.html
– CompleteTax is powered by the same software the pros use
• Free marketing materials available at: http://www.lovemycreditunion.org/CompleteTax_Marketing_Materials_481.html
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Updates
Sprint… Stay Connected!
2nd Quarter Promotion for Credit Union Members
• Credit Union Members Receive a FREE Car Charger*!!*Requires purchase and activation of any new Sprint device
• Offer valid from March 1, 2010 – May 31, 2010, must be a Credit Union Member to qualify– Exclusively from Platinum Wireless, while supplies last – Via web site and phone orders only; not available through stores
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Study Methodology• The primary objective of this study was to understand and
measure credit union satisfaction levels within the Invest in America program.
• An online survey was administered in December 2009 to credit
unions that are participating in the Invest in America program.
• Respondents were given approximately three weeks to complete the online survey, 288 valid surveys were completed, representing a 11% response rate.
Credit Union Survey
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Close to 70% of credit unions use the marketing materials provided.
Almost 90% of credit unions promote the IIA program.
CU Marketing
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Over half of credit unions use either member newsletters, web materials or posters to promote the IIA program to members.
CU Marketing
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Of the credit unions surveyed, 47% indicated that printed materials would be helpful to them in promoting the IIA program.
CU Marketing
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Satisfaction with the Invest in America program increased in December by 3ppts and highest satisfaction levels increased 5ppts.
Dec-09
60%
Not At All ExtremelySatisfied Satisfied
108 91 2 6 753 4
57%
Jul-09
IIA Satisfaction
In December 60% of respondents gave a satisfactory rating (5 or higher) on overall satisfaction of the IIA program.
15%
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IIA Satisfaction
Overall satisfaction with the following IIA program attributes
58%
64%
46%
Total satisfaction = Very satisfied + Somewhat satisfied
64%
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The majority of credit unions heard about the IIA program through their credit union state league.
CU Experience
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CU Experience
Over one-fourth (27%) experienced an increase in auto loans.
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Demographics:Credit Union Asset Size
Of the credit unions that responded, 65% have $120M or less in assets.
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Demographics:Number of Members
Of the credit unions that responded, almost 30% have 20,000 or more members.
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Future League Communications• League Conference Calls will be held the 1st month of each quarter on
Wednesday’s at 3pm EST– April 21
– July 14
– October 13
• Access Information– Phone: 888-742-8686
– ID: 9691663
• Monthly updates via PowerPoint Presentation will be emailed on:– March 17
– May 19
– June 16
– August 18
– September 15
– November 17
– December 15