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Wednesday, January 19, 2011. League/LSC IIA Update. Contents. Top LSC’s Credit Union Agreement Status What’s New CMG/Liberty Mutual IIA Value Proposition New Credit Union Agreements Sprint Exclusivity Military Program Updates Sprint/Best Buy Campaign New Simplified DIRECTV Offer - PowerPoint PPT Presentation
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League/LSCIIA Update
Wednesday, January 19, 2011
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Contents
• Top LSC’s• Credit Union Agreement Status• What’s New
– CMG/Liberty Mutual– IIA Value Proposition– New Credit Union Agreements– Sprint Exclusivity– Military Program
• Updates– Sprint/Best Buy Campaign
– New Simplified DIRECTV Offer
– CompleteTax/CUTS
• 2011 LSC Communication Schedule
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Top LSC’s January – December 2010
Auto Sales Sprint Supporting Credit Unions
Texas 21,111 Tennessee 61
Florida/Alabama 8,584 Pennsylvania 59
Pennsylvania 5,963 Illinois 56
California/Nevada 5,741 California/Nevada 54
New York 4,985 Missouri 35
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Support StatusProgram Support Grows!
12/09 12/10 Increase 12/09 12/10 Increase
Big Ticket 2,125 2,407 282 46 46 -
Sprint 542 1,205 663 28 38 10
Member Rewards
NA 2,324 2,324 NA 27 27
• Check on the status of your credit unions with the League Reports at: http://www.lovemycreditunion.org/Additional_Invest_In_America_Reports_for_Leagues_272.html
• 3rd Quarter Endorsing Credit Union and League checks will be mailed at the end of January
Credit Unions States / Leagues
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What’s NewCMG/Liberty Mutual• IIA partnered with CMG to provide Members Auto and Home insurance
• Insurance underwritten by Liberty Mutual, valid in 49 states (Excludes Alaska)
• Credit unions already partnered with CMG – Nothing changes, members simply have additional access point
– Commissions on policies written thorough IIA will still earn the same commissions for Credit unions and Leagues
• Credit unions not partnered with CMG– Sign up to make insurance available to your members via IIA
– Commissions will not be paid to credit unions that do not have a contract with CMG
• Provides a channel members prefer: 63% of insurance buyers look for internet access to quotes*
• Members receive a discount of up to 10%
• Generates additional not interest income for the credit union with no additional expense
* To the extent permitted by law, applicants are individually underwritten; not all applicants may qualify***ComScore Auto Insurance Report, March, 2009
*** Discounts are not available in all states and discounts may vary by state. The insurance offered is not a deposit and is not federally insured or guaranteed by your credit union
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IIA Value Proposition
• In 2011 IIA will focus its efforts to bring value to credit unions by supporting their core services
– Grow and retain members & drive member loyalty with IIA an exclusive credit union member rewards program
– Generate more auto loans with GM Preferred pricing– Grow credit/debit card transaction volume with ShopAmerica and more than
1,200 merchants– Generate non-interest income with Sprint’s wireless services
• When visiting with your credit unions and discussing IIA, please reinforce these values and benefits of supporting IIA
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What’s NewCredit Union IIA Agreements
• Agreements will be simplified to one level of support
– Letters will be sent this month to participating credit unions who have agreement anniversaries in 1st quarter 2011.
– Credit unions will be paid through the quarter of their anniversary date.
• Incentive dollars will be put back into national marketing efforts for more efficient use of funds
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What’s NewGM Loan Pre-Approval
• Developing loan pre-approval solutions for credit union members on GM credit union micro site
• Easily directs members via web link back to credit union for loan pre-approval
– Increase loan volume– Demonstrates commitment from GM
• IIA to inform credit unions of opportunity
– Communication to be sent in January– Solicit participation– Obtain and manage link information
Find a Credit Union tab added below Find a Dealer
GM Credit Union Micro Site
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What’s NewGM Military Focus• Developing loan pre-approval solutions for
active and reserve military personnel (excludes retirees) on GM Military site
• Credit unions with large military-based membership segments can have link from the GM Military Discount micro site to their loan approval system (Not exclusive to credit unions)
• IIA is seeking your help to identify potential CUs. Please e-mail list of CUs in your state to: [email protected]
– Please include:
• Credit union name and contact e-mail address
• Approximate percentage of membership in active or reserve service
• IIA to follow-up with CUs for link information
GMMilitaryDiscount.com
Find a Credit Union tab added below Find a Dealer
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What’s NewNew Sprint CU Agreement• Necessary due to marketplace competition trying to duplicate the Sprint program
– T-Mobil
– Verizon
• To keep the Sprint program viable and share incentives fairly among credit unions, it is necessary to adjust the agreement to include two tiers of incentives:
– Exclusive -100%
– Non-exclusive - 50%
• All other marketing requirements remain intact
• CUs with agreements dated January 1, 2011 or later will receive a new agreement this month
– Their original start date will not change
• Existing CUs as of December 31, 2010 will receive an addendum, in April, to take effect for the new contract year in October 2011
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UpdatesSprint/Best Buy
• Partnering with Best Buy in the Northeast region to provide 10% off on accessories to credit union members – in store only– CT, DE, MA, NH, NJ, NY, PA & RI
• ValPac insert will reach over 7.3 million households– February - 6.9 million households– March – 440 thousand households
• If successful, a national program will be considered
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UpdatesNew DIRECTV Offer
• New simplified program offers greater savings to members
• $100 discount for new activations as follows: – $60 discount by way of $5 off each month for the first twelve months (same
as today)– $40 rebate that CU Growth Solutions will administer
• Provides more cash in members hand
• Eliminates need for credit unions to identify member accounts to make deposit
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UpdatesTax Filing
• IIA preferred partner, CompleteTax – Credit union members receive a 30% discount– Basic package is free, others start at $13.95– Plus 3 offers to file your Federal forms free: Unemployment , Balance Due,
and Switching from a competitor
• Shop America also offers two additional preparation programs with cash back
– FreeTaxUSA – 25% cash back– TaxCut (by H&R Block) – 11% cash back
• Credit union newsletter article available at: http://www.lovemycreditunion.org/Marketing_Materials_148.html
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Future League Communications
• League Conference Calls will be held the 1st month of each quarter on Wednesday’s at 3pm EST*
– January 19, 2011
– April 13, 2011
– July 20, 2011
– October 19, 2011
• Access Information
– Toll free: +1 (866) 816-1627– Conference ID: 1177265367
*Attendance required for Leagues Endorsing or Partnering with Big Ticket and Endorsing Member Rewards