Sprint Program Offers Meaningful Discounts for Members, Non-Interest Income for Credit Unions

The Sprint Credit Union Member Program is Sprint’s largest national discount, with nearly 1.4 million credit union members taking advantage of discounts between 10 and 15 percent, waived $36 activation and $36 upgrade fees, and accessory discounts. Business accounts receive a 15 percent discount, enhancing credit unions’ member business lending (MBL) programs as well.

The credit union earns incentives through the Sprint program merely by completing a handful of turnkey marketing tasks—earnings are not based on the number of members who sign up. During a credit union’s first year on the Sprint program, the marketing incentives are pro-rated based on when during the year the credit union enrolled. As the new 2012-2013 fiscal year begins Oct. 1, a credit union could be a 100-percent participant in the first first year by signing up before Sept. 7.

The only requirement to participate in the incentive pool is to complete the agreement and complete the following four simple marketing tasks throughout the year:

  • Add a Sprint banner to the credit union’s website (by Oct. 1);
  • Include a Sprint statement insert, which Sprint provides and ships directly to the credit union’s mailing house, in the October quarterly statement;
  • Feature the Sprint Credit Union Member Discount Program twice a year in the credit union’s newsletter; and
  • Put branch merchandising—8.5”x11” lobby poster with take-ones—or lobby videos on in-branch televisions in place by Oct. 1.

It’s that simple. And based on last year’s payout, a credit union with 10,000 members would have earned approximately $3,300, with the Northwest Credit Union Association (NWCUA) earning an additional $3,300 for member credit union participation. Last year, Sprint paid out approximately $140,000 to Oregon and Washington credit unions and matched that with a check to the NWCUA, which helps fund advocacy efforts and organizational initiatives. More than 1,800 credit unions nationally are currently participating.

“We are not trying to put you in the cell phone business,” said Bob Bearden, national business consultant for CU Solutions Group. “You are merely informing the members of a discount they already qualify for by virtue of the fact that they are a credit union member. Should they already be a Sprint customer and not already receiving a discount, they qualify as well!”

The agreement is very simple and can be found online.

Contact Bob Bearden at 800.262.6285, ext. 751, or bob.bearden@cusolutionsgroup.com with any questions.

 

Strategic Link is the NWCUA’s wholly-owned service corporation, providing the Association’s 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 Community Impact, Financial Education, Marketing & Communications.