Deadline Nears for Participation in 2014 Sprint Discount Program

Credit unions that want to earn non-interest income by offering Sprint discounts to their members have until June 1 to sign up for 2014 benefits. Some of the credit unions that participated last year received checks for more than $20,000.

Since the Sprint Discount program began nationally about five years ago, 1.3 million credit union members nationally have saved more than $340 million on Sprint Nextel services. In addition, 1,688 participating credit unions have earned $7 million for marketing the program. Checks totaling more than $200,000 were distributed to Northwest credit unions in late 2013; for 24 credit unions in Washington and 12 in Oregon, that meant an average bonus payment of $5,405.

The discount program is offered by the Northwest Credit Union Association’s Strategic Link subsidiary and CU Solutions Group (through its Invest in America partnership with Sprint). Details are available online.

“We’ve been partnering with Invest in America since 2010, and it’s been a fantastic way to offer our members discounts on products they shop for online,” says Angie Leppert, vice president of marketing for Fibre Federal, which earned more than $15,000 for marketing the program last year. “The Sprint Discount program currently offers our members up to 15 percent off of their monthly service, and they deeply appreciate the significant savings.”

Credit unions that enroll in the program by June 1 would receive their first check in December, according to Craig Reed, the NWCUA’s director of strategic partnerships. “Credit unions can still sign up after the deadline,” he says, “but they will participate in the 2014-2015 fiscal-year program and won’t receive their first incentive check until December 2015.”

Reed says the goal of the Sprint Discount program isn’t to put credit unions in the cell phone business, but rather to provide their members with an added benefit by giving them a discount on their monthly bill. The savings for consumers are significant, including discounts on most recurring charges, waived activation fees on new lines, and waived upgrade fees.

For participating credit unions, the turnkey marketing requirements are easy to follow. Credit unions are asked to meet four 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; and
  • Add a link provided by Sprint to its website.

For more information about leveraging the Sprint Discount program, contact CU Solutions Group at 800.262.6285 or info@cusolutionsgroup.com.

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 2014 and beyond: creed@nwcua.org.

Posted in Marketing & Communications.