To Every Credit Union There Is a Season
As seasons come and go, there is never a wrong time to focus on financial stability. Credit unions offer options for members to combat economic woes and help prepare for higher spending periods. There are ideal time frames throughout the year in which to promote financial health. As we “fall into fall,” here are some themed ideas to help members with their budgeting and planning for the upcoming months. We will be examining the seasons as they arrive, but for now, let’s review some aspects of the autumn season and your credit union.
Back to School
Fall is synonymous with classes starting up again, and here we are – right in the middle of this yearly ritual. Each year, we hear about credit unions supporting back-to-school drives and giveaways that provide clothing, backpacks, textbooks, computers, and more to underserved communities and families who may otherwise struggle with scholastic costs.
Some credit unions provide grants and educator loans to supplement educational-related expenses (usually paid for by the teachers themselves). Supplies, classroom decorations, project materials, field trips, and special awards campaigns can be covered by these grants and loans. On a bigger scale, there are many credit unions that support scholarship programs for colleges and universities, as well as special loans for private schools.
Time for Sports
Baseball playoffs are in full swing, and football season is kicking in (puns intended). Now is an excellent time for credit unions to engage with their communities through official sponsorships, stadium/program ads, student-athlete financial education programs, and limitless other ways. For example, raffles and donation-matching campaigns for gear and travel-related expenses for away games are often coordinated through credit unions with great success. Bottom line – get involved, show up, and be part of the game!
Fall Festivities
Halloween can be an opportunity to have some fun by hosting “trunk-or-treat” events, which allow members and credit union staff to bring their kids to a safe environment for trick-or-treating. Halloween-themed decorations, costume or pumpkin-carving contests with prizes are activities that can bring in new members and make current ones feel appreciated!
Thanksgiving and Black Friday Weekend
Black Friday deals and promotions are anticipated and welcome in most transactional environments at this time of year! Your members will show gratitude when you present them with options for low-rate credit cards or other special promotions designed to help ramp up the shopping season. Although many credit unions are closed for the holiday, you can still show your members that they are what you are most thankful for.
Holiday Savings Clubs
Credit unions help members save throughout the year by setting up dedicated Christmas Club accounts and short-term share certificates, with funds disbursed automatically in the fall or winter. These special savings accounts can earn dividends to assist with creating budgets and preparing for holiday spending.
It could be that your credit union is already participating in these types of programs to help your members transition from summer leisure to fall frivolity. If so, please reach out and let us know what you are doing!
For over 40 years, Oak Tree Business Systems has been dedicated to keeping credit unions in regulatory compliance with quality, user-friendly forms and disclosures.
