Keep New Members Engaged By Enhancing Membership Value Through Strategic Link Partnerships

The events surrounding last fall’s Bank Transfer Day brought increased awareness of credit unions and scores of new members—that much is clear. The issue for credit unions now becomes one of maintenance and retention. How can credit unions keep these new members engaged?

One strategy many credit unions are employing to retain and further engage their members involves working with the Northwest Credit Union Association (NWCUA) and Strategic Link to leverage partnerships to enhance the value of membership.

Strategic Link is the Association’s wholly-owned service corporation, working to provide credit unions with high-quality, competitively priced products and discounted services. Many Strategic Link Business Partners offer benefits that directly increase the value of credit union membership.

Sprint Nextel Services, for instance, offers preferential rates for members and credit unions nationally, including 10-percent discounts on most monthly recurring charges, waived activation fees on new lines, and waived upgrade fees. Corporate liable accounts are also eligible for 15-percent savings through the program.

All credit union members are eligible for the Sprint savings, but credit unions themselves can capitalize on the program by simply completing a handful of turnkey marketing commitments. Several Northwest credit unions earned more than $20,000 in non-interest income in 2011 just by offering the discounted services to their members.

Autoland, meanwhile, works to help credit unions drive loan revenue and deepen relationships by providing an unmatched auto-buying experience to their members. From personal on-site consultants to turnkey marketing, members learn to look to their credit union first when looking for cars and financing. Autoland delivers a full-service auto-buying solution, complete with trade-in services, quality-assured pre-owned vehicles, protection packages and aftermarket products. And because they work through their credit union to secure these discounts and add-ons, lending opportunities for the credit union increase as well.

Invest in America is a powerful credit union member enhancement program that provides credit union members nationwide with substantial discounts from U.S.-based companies like General Motors, Dell, TurboTax, Allied Moving and Storage, and more.

And many more, such as Member Access Pacific’s card payment services, give credit unions a doorway to offering big ticket services to members at a fraction of the typical cost, and Strategic Link’s partnership with OfficeMax offers easy savings not only for credit unions, but for their members and employees as well.

And its services are very intentionally geared toward credit unions of all sizes.

“It’s important that none of our credit unions ever be excluded,” NWCUA Senior Vice President RoxAnne Kruger said. “Whatever the size of the credit union, we are here to serve their needs, and we form partnerships with that philosophy in mind.”

Strategic Link can connect credit unions with everything from nationally-recognized financial advisors to state-of-the-art products—everything a credit union needs to offer the most value possible to each of its members, so that no matter when they joined, they won’t be leaving anytime soon.

 

Strategic Link is the NWCUAs wholly-owned service corporation, providing the Associations member credit unions with exclusive high-quality, competitively-priced products and discounted services. Questions? Contact Sales & Marketing Associate Craig Reed: 206.340.4789, creed@nwcua.org.

Posted in Economy, Marketing & Communications, NCUA.