Members Credit Union Wants to Know … What Are You Saving for?

 

PR Director Matt Davis of Members Credit Union.

With the US economy reeling from the mortgage crisis, and consumers awash in credit card debt, Members Credit Union recently introduced a most timely campaign. What Are You Saving for?, the credit union’s newest account and savings promotion, aims to help Member’s members take a sensible approach to saving and spending.

WAYSF includes an online community of people who set savings goals and get helpful tips from the Members staff. Moreover, other members of the community also are free to offer their own tips and words of encouragement.

The blog community is also backed up by a great product – the WAYSF account. This account pays twice the dividend rate of the Members CU savings product (members have to adopt e-statements to qualify for the dividend). In addition, Members holds a monthly drawing for a savings prize, with the number of chances determined by how much money each accountholder has on deposit in their WAYSF account.

Also, every six months, Members will announce a Biggest Savers Contest winner. Based on the members’ dedication to saving consistently to reach goals and participation in the blog, this prize winner will receive a $2,000 60-month share certificate!

The chance to win prizes is a great element, but the community aspect of WAYSF is another great feature. Even though Members just rolled out this account April 1st, quite a few blog postings have already appeared.

One such post that was especially touching was written by “johnnymac,” who expressed his frustration at not being able to afford a medical scooter for his father-in-law. The community has chimed in to offer words of encouragement to johnnymac, and a few tips. It will be interesting to see how this community comes together to help members in these types of situations. (Isn’t that great, a savings account with a stinkin’ social conscience?!)

Check out the tools and other features of WAYSF – it’s a great campaign I suspect we’ll be hearing a lot more about. Good going Members CU!    

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