TBA Credit Union receives $1 million in increased annual deposits!

Situation: TBA Credit Union began a company-wide competition to see which branch could cross-sell the most direct deposits in one month. Employees at all four offices eagerly accepted the challenge with high expectations of earning the Grand Prize - a chance to win up to $200 for the winning branch! But how could management ensure that employees would promote the service to current members and follow up with members to make certain the direct deposits began?

Solution: The Marketing Team at TBA Credit Union used a Scratch and Win employee incentive program inspired by the popular game show Deal or No Deal to help achieve a goal of 50 new direct deposit accounts. Employees received a Scratch and Win game card when a member enrolled in direct deposit. The employee scratched off a game card immediately after the 'deal' was made and redeemed the ticket for the revealed prize when the member's direct deposit started. Waiting to reward the employees after the direct deposit began was an excellent way of encouraging employees to follow-up with prospects.

Number of Cards: 250 – CR-80 Stock Cards

Prizes:

• $5 - $30 gift cards
• $50 and $100 cash prize
• TBA Credit Union merchandise

Results: Employees at TBA Credit Union interested 90 members in direct deposit. Because employees were encouraged to follow-up, their efforts resulted in 60 new direct deposit accounts! That’s 20% more than their goal, totaling more than $1 million in increased annual deposits! The winning branch earned an opportunity to play Deal or No Deal during a company-wide meeting and won $150! "It was one of our most successful promotions to date!"