Sprint Offers Discounts to Members, and Income Incentives for Participating Credit Unions
Credit unions can earn non-interest income by offering Sprint discounts to their members. The deadline to sign up for 2013 benefits is May 30. Some of the credit unions that participated in 2012 received checks for more than $20,000.
May 14, 2013
It’s possible through participation in the Sprint program offered by Strategic Link, the Northwest Credit Union Association’s (NWCUA) wholly-owned service corporation. The Sprint program allows credit unions to offer discounts on Sprint telephone services, and pays participating credit unions for their promotional efforts at year’s end.
Participating credit unions must meet four marketing requirements:
- Enclose an insert provided by Sprint in one of the credit unions’ quarterly statements sent to members.
- Publish two newsletter articles annually, linking members to Sprint’s website.
- Display Sprint’s marketing materials in branches utilizing either posters or continuous video feeds.
- Add a link provided by Sprint to their website.
The program was a turnkey way for Fibre Federal to earn $19,724 in 2011. The idea of offering member discounts was appealing to Lesley Carrell, senior vice president of marketing. “But the most appealing thing to me was the opportunity to earn some non-interest income just by giving out marketing real estate,” she said in an Anthem interview last year.
Also pleased with the results was Elaine Eastman, president and CEO of Central Willamette Community Credit Union in Albany, Ore.
“We value the opportunity to provide our members with ways to save money,” said Eastman. “The savings through Sprint has been well received by members and has provided non-interest income to Central Willamette.”
The incentive income is paid to credit unions based not on the numbers of members who sign up with Sprint but on the numbers of members exposed to Sprint’s messaging through the four marketing requirements.
Credit unions signing up on or before May 30 will be eligible for 2013 incentive pay provided they meet the marketing criteria.
Interested credit unions may visit lovemycreditunion.org for more information or contact Crissandra Fry of CU Solutions Group, 800.262.6285 x549. The NWCUA’s Craig Reed and Yuri Jung are also available to provide information about Sprint and other Strategic Link programs.
Strategic Link is the NWCUA’s wholly-owned service corporation, using the power of aggregation to provide the Association’s member credit unions with exclusive high-quality, competitively-priced products and discounted services. Contact Director of Strategic Partnerships Craig Reed today to find out how Strategic Link can help your credit union save money while meeting its goals in 2013 and beyond: 206.340.4789, [email protected].