Earnings Edge
Summary
This course will demonstrate some creative methods you can develop to pay dividends to your members. Create deposit initiatives that influence member behavior to take advantage of higher rates as they save while spending, and even offer programs that support donation of funds. Explore ways to offer rewards in the form of deposits to member accounts based on transaction activity.
Audience
This class is designed for management, accounting, and marketing staff who want to be creative with their dividend rate offerings while maintaining profitability.
Objectives
By the completion of this course, participants will have:
n Reviewed existing dividend options
n Discussed how to market these new savings products
n Explored how to reward members based on behavior
n Examined the features of savings products and how they can be structured to beat the competition.
n Investigated how to remain profitable while paying higher rates
n How to use savings programs to boost loyalty and encourage members to choose their credit union as their primary financial institution
Topics
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n Qualified dividend processing
n Marketing-club-rate benefits
n Debit Card Round-Up processing
n Dividends paid to charities
n Service charges that can deposit funds
n Surcharge refunds (ATM surcharge rebate, etc.)
n Certificate processing – bump-rate and principal-distribution options
n Requiring a secured amount of funds for a specific product
n Adding funds to a certificate
n Changing CD-renewal codes online
n Reviewing dividend reports for marketing opportunities
n Christmas/Vacation Club processing
n Online product management
n Using checklists/new member dashboards for analysis opportunities
n Deposit-item-fee opportunities (i.e. business accounts)
