No two institutions will implement DriveUp Savings exactly the same. With the reality of varied core system capabilities, organizational tastes and differing makeup of membership segments, it’s impossible to expect that possibility.
However, there are common steps and actions that enable a system that can be used and deployed. We have detailed those items below:
- Decide Product Type – We recommend a certificate, but CUs may also consider a “holiday club” type of savings account
- Determine Timeline
- The Product Name – Feel free to use “DriveUp Savings”
- Beta Test – Set up the product in your test environment and make sure it works as intended
- Documentation – If you offer term extensions to lower payments to allow for contributions, you will need to modify your documents. You’ll also want to integrate into your other account opening processes.
- Expectations and Goals – You’ll want to create expectations and goals based upon your membership and product sales. [See Financials]
- Marketing – We’ve developed marketing collateral using the DriveUp Savings name. If you choose to brand with a different name, you’ll need to create new. [See Marketing]
- Set Up in Live Environment
- Train Staff and Launch Product
- Follow-up and Tracking – Monitor your success [Don't Forget to Tell Us About It!]
