Helping Members Afford Vacation Is Good Business
As summer approaches, many members are dreaming of a much-needed break. However, for a significant portion, the stress of affording a vacation can outweigh the joy of planning one. According to a recent Bankrate survey, only 46% of Americans plan to travel this summer, with 65% of those not traveling citing affordability as the primary reason. Moreover, nearly 3 in 10 prospective travelers (29%) are considering taking on debt to fund their summer getaways.
Your credit union can step in as a trusted financial partner—helping members plan ahead, save wisely, and enjoy their time away without worrying about debt. Helping members turn dreams into reality is a sure way to boost loyalty. Here are five ways to support your members in making smart vacation choices:
1. Encourage a Dedicated Vacation Savings Account
Make it easy for members to set money aside by opening a “Vacation Fund” savings account. Highlight features like automatic transfers and goal tracking in your digital banking experience. Even $10–$25 a week can add up to a well-deserved getaway.
2. Share Smart Booking Tips
Offer travel-savvy insights through your blog, email newsletters, or social media. Tips like traveling midweek, booking early, or using price alerts can help members save hundreds. Bonus: Include destination ideas that won’t break the bank.
3. Promote the Power of Points and Rewards
Your credit card program may include rewards—airline miles, hotel discounts, gas perks—that members forget to use. Remind them to check their balances and redeem before booking. Every point counts when trying to lower travel costs.
4. Encourage Local or Budget-Friendly Travel
Help members see that a great vacation doesn’t have to mean expensive flights or luxury hotels. Share tips on local hidden gems or low-cost destinations within driving distance. A relaxing, memorable vacation can happen without leaving the state.
5. Connect Members to Budget Counseling and Financial Coaching
Sometimes the best vacation plan starts with a financial conversation. Encourage members to connect with a certified budget counselor or financial coach—especially if they’re feeling unsure about what they can afford. A coach can help them create a vacation budget, identify savings opportunities, and build confidence in their financial choices. If your credit union partners with BALANCE or another financial counseling provider, promote that service now—before the summer spending begins.
Turn your members into fans
When it comes to vacation time, going the extra mile for your members can create deep goodwill, increase loyalty and boost engagement. By combining education, tools, and human support—like coaching and counseling—your credit union becomes more than a financial institution. You become a partner in helping your members live well and spend wisely. And that’s a great way to turn members into lifelong fans.
To learn more about how Ovation can help you deepen your member relationships through modern and engaging financial wellness programs, schedule a consultation with us today.