ROCHESTER, N.Y.—Members who swipe their ATM card, take out a loan or simply walk into a branch might pick up an extra $300 from Family First FCU.
The credit union’s “Members of the Week” program is handing out the cash every Friday and is randomly selecting winners in ways the CU says can change every week.
“How we choose the winner could be different each time,” said Marketing Specialist Guy Taddeo. “It might be someone selected from a list of members who opened a car loan in the last six months or who recently swiped their debit card. It could be someone who is the tenth person to walk into one of our branches.”
When the $145-million credit union can’t notify winners in person, Family First calls the members and asks them to stop by the main office. The money is handed out on the spot, and the member’s photo is taken and appears on the credit union’s website and Facebook page.
Taddeo said Members of the Week is a “nice bonus” and a great way to thank members for their business.
“We think it spreads the word well about banking at Family First,” offered Taddeo. “If you received $300 in cash when you came into your credit union, you'd tell everyone you knew about it.”
Word is spreading, said Taddeo.
“In fact, we recently called one winner who already knew all about our promotion,” said Taddeo. “That’s what we want.”
Family First began the giveaway in July, and Taddeo said winners often want to know what strings are attached to the cash.
“Everyone is shocked and surprised,” said Taddeo, explaining that when winners learn there is no catch that they see even greater value in banking at the credit union. “We tell members the money is a thank-you for their membership.”
FFCU is promoting the campaign on its website, in lobbies and on social media.
Advertising notes that while banks spend a lot of money trying to bring in new customers, Family First wants to spend a little cash to thank current members.
The campaign is also producing some unexpected benefits, as some members are paying their good fortune forward.
“We had a fireman win and then tell us on the spot he was going to donate the money to the family of a police offer recently killed in the line of duty,” explained Taddeo.