League/LSCMonthly Update

Wednesday, December 16, 2009

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Contents• Top LSC’s• What’s New

– ELS (Equity LifeStyle Properties)– COSTCO– FTD

• Sprint – free car charger promotion• Chrysler Call to Action• News of Interest• Marketing Updates• LoveMyCreditUnion.org• Follow-up• Overcoming Objections• League Communication Schedule

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Top LSC’s (Thru 11/30/09)

Auto Sales Sprint Supporting Credit Unions

Texas 30,696 Michigan 207

Michigan 17,990 California/Nevada 42

Florida/Alabama 14,355 Texas 36

California/Nevada 11,172 New York 33

Pennsylvania 10,683 Florida 30

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ELS (Equity LifeStyle Properties)

• Contract runs December 16, 2009 - December 31, 2010• Over 300 properties across the U.S.

– New and used resort cottages and homes(opportunity for credit union financing)

– RV sites and rentals

– Cottage/home rentals

– Park memberships/Camp sites

• Exclusive credit union member discounts of 5 – 25%• Great opportunity for credit unions to provide mortgage loans on

purchases• For complete details visit:

http://www.lovemycreditunion.org/ELS_450.html

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COSTCO

• Contract runs January 4, 2009 – June 30, 2010• Credit union members may purchase COSTCO

memberships or upgrades to existing memberships for $50

• Membership Certificates can be used by credit union members or purchased as a gift for family and friends

• For every membership purchased, member receives coupon for free or discounted products of over $50 in value!

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FTD.com Current Offer

• Contract runs Nov. 1, 2009 - October 31, 2010• Members receive $15 off each item purchased

including:– Flowers– Plants– Gift baskets– And more

• Members are encouraged to use their credit union credit/debit card for purchases• For complete details visit:

http://www.lovemycreditunion.org/FTDs_Credit_Union_Member_Discount_384.html

In order to provide credit union members with the highest discount available the offer was changed to $15 off per item rather than the original 20% discount

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Sprint

1st QTR promotion

• In addition to the 10-15% discount on mobile services, equipment and accessories, all credit union members receive a FREE Car Charger!

• Offer valid from January 1, 2010 – January 31, 2010 with a new Sprint handset purchase and activation

• Offer valid via web www.SprintSave4CU.com or phone 877.SAVE.4.CU only

 

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Chrysler Group LLC Sales Call to Action• Since Chrysler rejoined IIA, CUcorp has provided the

following marketing support:– Placed over $1M in online advertising through search and display ads– Conducted Media Conference Call and News Release generating stories in

November on Time.com, Reuters, Chicago Tribune, Business Journals in 16 cities (2 million impressions)

– Re-launched through newsletters, email blasts, frontline staff resource guide, and national sales efforts

– Developed new marketing materials available at no charge to IIA participating credit unions

– Promoted on twitter and facebook with preferred pricing focused blogs being sent to 25,000 CU employees

• Sales performance needs to improve– Chrysler averaged almost 14,000 sales per month January - July– Since November 1st, Credit Union sales are less than 2,000 per month– Please reinforce that Chrysler is back and the credit union discount program

is worth promoting

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News of Interest

• Availability of auto loans for consumers with good credit has improved but challenges remain for consumers with marginal credit

• The average credit score for all 3rd qtr. 2009 auto loans was 775– 13 pts. higher than 3rd qtr. 2008– 26 pts. higher than 3rd qtr. 2007

• 83% of all 3rd qtr. auto loans were prime or better• Outstanding auto loans have decreased by 6% and average

monthly new car payments have decreased by $26 over the past two years

• The average term of a new vehicle loan was 62 months in the 3rd qtr. 2009 versus 63 months in the 3rd qtr. 2008

Source: Detroit Free Press, December 10, 2009, Business section, page 1

Lending Institutions Make Fewer Risky Loans

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Marketing Updates

• “How to Market” Guides have been developed to assist credit unions with ways to market our new partner offers to their members

• Each guide includes:– A brief description of the discount program– Key details that you need to know– Thought starters to help you plan your marketing efforts

• In addition, email blasts, newsletters and partner company logos are now available for credit union use

• Available from the Partner Center Marketing Materials page

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Marketing Updates

• A new marketing campaign is being developed based on the current American Values, American Savings theme

• The new “umbrella” strategy has a broader message that ties all the Invest in America partners into one campaign

• The new campaign will allow credit unions the flexibility to select which discounts to market

• Elements Include:– Statement Insert PDF– Poster PDF (8.5” x 11” & 22” x 28”)– E-blast– Newsletter Copy– Web Banners

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LoveMyCreditUnion.org

Revised Home Page• Replaced the rotating

carousel with a sliding flash element with each of the partners logos

• Each logo links directly to the partners credit union member save page

• The Invest in America logo links directly to the save landing page which details each of the programs

• Individual programs can also be accessed by using the text links in the middle of the left hand column

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Follow-up

• All participating credit unions were sent an email survey on December 4, 2009. Please encourage your credit unions to respond by December 21. Only 110 surveys have been returned to date

• Your credit unions can order inserts for February mailings; order deadline is January 8, 2010

• Numerous sales reports developed specifically for credit union use can be found on the lovemycreditunion.org site in the Partner Center

http://www.lovemycreditunion.org/Invest_in_America_Reports_150.htm

Invest in America Sales Reports– GM Authorizations Approved by Credit Union Report– Chrysler Sales by Credit Union Summary Report– Thor Sales Report by Manufacturer– Thor Sales Report All Manufacturers

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Overcoming Objections• Credit Union: We currently work with Turbo Tax, why should I support

Complete Tax?

Response:  There are several reasons your credit union should tell your members about the CompleteTax program:

1. CompleteTax is powered by the same company that provides more tax professionals with their information and software than any other company

2. Turbo Tax uses the program CompleteTax developed and has sold it to consumers for years. Why not get it from the company that actually developed it instead?

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Overcoming Objections (continued)

3. CompleteTax is on average, 37% less expense than TurboTax for consumers. Once you add in the exclusive 30% credit union member discount, the savings can be as much as 56% for your members

4. TurboTax is owned by Intuit who also owns Rock Financial and Quicken Loans, two major competitors to credit unions in the mortgage area

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Future League Communications• League Conference Calls 1st

month of each quarter (Wednesday’s at 3 pm EST)

– January 13, 2010– April 14, 2010– July 14, 2010– October 13, 2010

• Access– Phone: 888-742-8686– ID: 9691663

• Monthly updates via PowerPoint presentation– Wednesday mid month– Available on line

• IIA Newsletter (First Friday of every month)

Don’t Forget to Mark Your Calendars, January 13, 2010 is Our Next Conference Call