Capturing Member Attention during the Holidays
While the holiday season can be filled with joy and celebration, it can also be a period when many overlook their financial health. From gifts to feasts to decorations, holiday costs can stack up quickly, making it a crucial time for people to stay engaged with their finances.
Because of the holiday rush and financial stress, member engagement can be challenging for credit unions during the holiday season. Yet, this season presents unique opportunities. By leveraging holiday deals, community involvement, and digital platforms, your credit union can turn this typically challenging period into a time of growth and member connection.
Let’s explore how your credit union can effectively capture member attention during the holiday season.
Offering holiday deals
The holiday season is full of shopping deals, making it an opportune time for credit unions to introduce attractive offers.
Cash incentives
Many people search for extra money during the holiday season, so cash incentives can entice people to join your credit union. Offering bonuses for new account sign-ups, credit cards, or loans can move the needle on membership.
Holiday raffles
Offering a raffle for the holidays can be a great way to increase card usage. Taking inspiration from Chase’s marketing playbook, they increased spending on their cards by announcing that they would reimburse select purchases during the holiday season for some lucky card users.
Free financial coaching
The complexity of budgeting during the holidays can be overwhelming. Offering complimentary sessions with financial coaches can provide valuable support and draw members in.
Personal loan promotions
People might be more likely to think about consolidation around the holiday season. Attractive rates on personal loans can be a significant draw to engage members.
Community involvement
The holidays are a time of community spirit, presenting a golden opportunity for credit unions to strengthen their community ties.
Sponsoring local events
Events like holiday parades, light shows, and night markets can offer great marketing opportunities, from simply increasing your visibility to providing a platform to educate the community about your services.
Hosting holiday drives
People want to give back during the holiday season, and food and toy drives are a great way to do just that. Organizing food or toy drives demonstrates your commitment to community welfare and embodies the spirit of giving back.
Offering free holiday services
Certain holiday tasks like gift wrapping can be a major hassle. Providing free gift wrapping at your branches can be a great way to get community members in the doors. Alternatively, offering a Santa photo station can be another great way to engage your community – while allowing members to avoid the mall crowds.
Digital engagement
In today’s digital world, many people prefer to handle their holiday shopping, budgeting, and planning entirely online. It’s essential for credit unions to meet members where they are with tools that support their financial well-being during this high-spending season.
Ovation (formerly Paperwork) is a white-label financial wellness platform with web and mobile tools designed to help members stay financially on track. With spending, saving, and debt analysis, users can monitor their finances in real time. If they need extra support, they can connect with a financial coach at the click of a button.
Our interactive educational modules provide valuable insights on holiday budgeting and smart spending, while in-context credit union product offers ensure that members have access to the right financial solutions exactly when they need them.
Help your members navigate the holiday season with confidence—powered by Ovation. To learn more, schedule a free consultation today.