Idaho Credit Unions Motivated Member Savings During America Saves Week
Participating credit unions drove member engagement with programs, promotions, and contests.
The Idaho Department of Finance invited Idaho credit unions to join them in sponsoring this year’s America and Military Saves Week (Feb. 25 to March 2). The event was an opportunity to promote savings and help Idahoans reassess their savings habits.
America Saves Week is an annual national savings event by the Consumer Federation of America that motivates, encourages, and supports low to moderate-income households to save money, reduce debt, and build wealth. This year’s event was held in conjunction with Military Saves Week to promote savings for active duty U.S. service members.
To encourage people to save, several Idaho credit unions offered a variety of fun promotions, contests, and product specials to encourage members to take a savings pledge, save money, identify a savings goal, and create a plan to reach that goal.
Piggy bank round up
To kick off its first year of participation with America Saves, Latah Credit Union held a Piggy Bank contest. Members were invited to get creative and make a piggy bank. The entries were displayed at all branches with the winning pigs determined by member vote. Participants vied for two cash prizes and a scholarship. The credit union also displayed savings messages on their reader boards along with suggestions on what to do with saved funds throughout the week.
Referral promotion extended
In addition to social media promotions, a blog post, and daily savings messages on branch lobby television screens promoting America Saves, members at Idaho Central Credit Union were given more chances to earn money. The credit union’s $100/$100 member referral promotion was extended specifically for the duration of America Saves Week. For each new member referral, the promotion rewarded both the member and the referred member with $100.
Promotions mark annual event
Over at Mountain Gem Credit Union, the America Saves program is promoted throughout the year. In honor of America Saves Week, the credit union promoted the program on its website’s homepage and updated it with daily messages. In addition, for every $100 members deposited during the week, they earned a chance to win a fire pit gift basket.
Top prize for top saver
America Saves Week promotions at Westmark Credit Union included a website banner and social media posts, and a contest in which members could win a $500 gift card by opening or adding to an existing savings account; opening a term certificate or IRA; or by signing up for direct deposit.