Turning holiday stress into member loyalty
While the smell of turkey in the oven may bring a familiar comfort, the holiday season also marks the peak of financial stress for many members. For credit unions, this period offers a strategic opportunity to provide timely support, deepen engagement, and strengthen long-term loyalty.
Credit unions face two clear paths. The traditional route - offering holiday loans, skip-a-pay programs, and credit line increases, no doubt has its place. But the path that drives long-term retention and deeper share-of-wallet is financial wellness.
At Ovation, we help credit unions build the infrastructure for that wellness. And right now—between the pumpkin pie and the New Year’s countdown—CUs have a unique opportunity to shift from “lender” to “partner.” Here’s how credit unions can guide members through the season using an “Assets vs. Liabilities” framework that strengthens the member relationship.
The Member’s Holiday Balance Sheet
Financial coaches often teach members to review their personal balance sheets, but applying the same lens can sharpen your credit union’s member-engagement strategy this month.
Every communication you send to a member right now is either an Asset or a Liability to your relationship.
The Relationship Liability: Marketing that is purely transactional. If a member is already anxious about debt, receiving three emails solely about "borrowing more" can feel tone-deaf. It reinforces the idea that the institution only cares about the transaction, not the person.
The Relationship Asset: Resources that solve a problem. Providing a digital budgeting tool, a holiday spending calculator, or educational content on "surviving the season" positions the credit union as a stabilizing force in a chaotic time.
3 Ways to Be Helpful This Season
Your marketing and business development teams are likely in the thick of Q4 execution. How can you leverage your financial wellness program to offer genuine help?
1. Proactive Education vs. Reactive Collections
Usually, financial education is pushed after a member gets into trouble—during the collections process or credit repair phase. Flip the script.
Use this week to push "preventative wellness."
Action: meaningful content distribution. Instead of just a generic "Happy Thanksgiving" email, include a link to a budget calculator or a specific educational module on your portal about "Managing Seasonal Expenses."
The Win: You empower the member to set boundaries before Black Friday, reducing the likelihood of delinquency in January.
2. Normalize the "Budget Holiday"
There is immense social pressure on your members to overspend. As a community-focused institution, you have the authority to disrupt that narrative.
Action: Use your social channels and member newsletters to celebrate "smart spending." Share stories or tips on low-cost holiday traditions.
The Win: When a financial institution validates the idea that presence matters more than price, you alleviate member shame. A member who doesn't feel shame about their finances is more likely to engage with you honestly when they need help.
3. Equip Your Frontline Staff
Your branch staff and call center agents are the first line of defense. They will hear the stress in members' voices this month.
Action: Ensure your internal teams know exactly where to find the wellness resources within your ecosystem. If a member mentions stress about buying gifts, the agent shouldn't just offer a loan; they should be able to say, "I can show you a great tool on our website that helps you map out a holiday spending plan so you don't feel overwhelmed."
The Win: This moves the interaction from a service request to a consultative relationship.
The Gift of Financial Literacy
As we head into the heart of the holidays, remember that your members are looking for more than just competitive rates—they are looking for a financial partner.
When you help a member get through December without a financial hangover, you don’t just support them in the moment. You reinforce the trust that carries into the New Year and beyond. A strong financial wellness program is one of the most effective ways to deliver that support consistently and at scale.
From the Ovation team to our credit union partners, we wish you a season of growth, connection, and meaningful member engagement. If you'd like to discuss your strategy or explore how to strengthen your financial wellness program, we’re always here: schedule a chat.