league/lsc monthly update wednesday, february 17, 2010
TRANSCRIPT
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!
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