The Financials
Good New$ for Members
- You can save without hurting your pocket book.
- It’s possible to save $1,000-$3,000 over a three year period.
- Just $20 per month can help you buy your next car and/or save for major repairs.
- You could use your savings to pay insurance premiums twice a year (cheaper than monthly).
Good New$ for Credit Unions
You can help your members develop savings habits that will:
- increase or add stability to outstanding deposits
- keep loans on your books longer
- enhance member loyalty (higher net promoter activity)
- generate good spin among local press/media
And it won’t obliterate your bottom line!
Click here for an Excel Spreadsheet that will allow you to model specific scenarios. [note: this sheet assumes you will be matching the savigns rate with the approved loan rate to a 10% cap].
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