Financial Services Industry
Industry: Email Alert RSS FeedVisa Gift Cards Used As Premium To Attract New Members
Credit Union Journal, The, November, 2005
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...
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