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For Immediate Release
Contact:
Jan Dailey, SVP, Marketing Manager
972-391-6191, jan.dailey@tnbcard.com
Kristine Tanzillo, Dux Public Relations
972-889-9577, kristine@duxpr.com
Credit
Unions Gain Hundreds of New Cardholders
through TNB Card Services' Fall Acquisition
Promotion
DALLAS - March 06, 2007 - With the
flexibility of multiple promotional rates to
choose from, credit unions participating in
TNB's Fall Acquisition Promotion were able to
tailor the promotion to suit their specific
members' needs.
For the $175 million Abilene Teachers
Federal Credit Union in Abilene, Texas,
pre-qualified members were offered a Classic
or Gold Card with an introductory rate of 6.9
percent for six months and up to 9.9 percent
thereafter. The credit union achieved a 1.54
percent response rate, pushing its total
number of cardholders beyond 3,700.
"We offer one acquisition promotion
each year, so we have high expectations for
the number of new accounts we acquire,"
said Jon Caudle, vice president of lending for
Abilene Teachers Federal Credit Union.
"In 2006, we received a 33 percent
increase in the number of new accounts over
the 2005 promotion. By pre-qualifying our
members, we were able to hand-select the
members that were best suited for our card,
offering them an attractive rate they probably
couldn't get elsewhere."
The acquisition promotion was the first of
its kind with TNB for Bashas' Associates
Federal Credit Union of Tempe, Arizona. The
7,000-member credit union's introductory
interest rate of 3.99 percent generated a 2.39
percent response rate from the promotion.
"We know that our members are price
conscious, so we offered a low rate to
demonstrate our desire to support them,"
said Brenda Roberts, operations manager for
Bashas' Associates FCU. "While the rate
was attractive and enticed some members, many
of our members accepted the offer because they
wanted a card from someone they know. They can
walk into any of our branches and talk to
someone about their card. You can't do that
with a national issuer."
After several years between acquisition
promotions, in 2006 AMOCO Federal Credit Union
of Texas City, Texas, decided it was time to
actively solicit new cardholders again. After
a successful promotion in the spring of 2006,
AMOCO participated in the fall promotion as
well, generating a 1.44 percent open rate.
According to Vicki Walker, credit card
manager of AMOCO FCU, "The acquisition
promotion has been the most cost-effective way
for us to add new cardholders. TNB made it
easy to implement, and the customization is
what really made the promotion work. We were
able to determine the rate and terms, allowing
us to tailor the promotion to our
specifications."
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About TNB Card Services
TNB Card Services, owned and directed by
credit unions since 1976, provides electronic
payments processing, as well as an agent
issuing solution for credit unions nationwide.
Serving more than 450 financial institutions
and managing more than 1.6 million cards,
Dallas-based TNB enables credit unions to
enhance member loyalty through credit
union-branded card products. For more
information about TNB, go to www.tnbcard.com
or call Dusty Bowers at 800-422-0733, ext.
6555.
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