Holiday Convenience Check Promotion Pays Off in Strong Response
Credit cardholders at participating credit unions generated more than $1.36 million in balances during the successful TNB Card Services Holiday Convenience Check promotion.
The promotion, which ran from October 2006 through January 2007, featured special checks mailed to select cardholders, which they could use during the busiest shopping season.
Card members of The Coca-Cola Company Family Federal Credit Union were among the most responsive of any of the participating credit unions. The Atlanta-based credit union had a response rate of 3.59 percent, and the average check written was $2,482.
Calling the results of the promotion "great," Lakesha Chestnut of The Coca-Cola Company Family FCU gave part of the credit for its success to the timing of the convenience check mailing, well in advance of the holidays.
Chestnut said that the 42-year-old credit union, a longtime TNB client, has run similar promotions in the past, with successful summertime and tax time initiatives to promote card usage. The Coca-Cola Company Family FCU serves employees of the Coca-Cola Company and its affiliates, and has nearly 14,000 members and assets of nearly $113 million.
"It was the combination of convenience, timing, and effective marketing that made our holiday promotion so successful," said Dusty Bowers senior vice president and national sales manager of TNB Card Services. "The response rate was strong and the average check amount high, indicating that this promotion really appealed well to the target audience. Our clients appreciate the ease of implementing the promotion, and the program's effectiveness."
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