DriveUp Savings

Carolyn Probasco at Members United Federal Credit Union sent along a nice letter today.

She reports that her credit union is still doing about a 30% takeup rate (meaning 30% of the auto loans they open have a DriveUp Savings attached).

She also included a cell phone sticky pad that was used as a give-a-way at her local chamber meeting. What a great idea!

Thanks for keeping us updated Carolyn, and congratz on the great success you are having with the product.

If your credit union is intersted in launching this product or a similar product, we want to hear from you so we can add it to the growing list of credit unions offering the product. We’ve started to draw interest from credit unions in California and New York, so we may see the innovation take off nationwide soon!

And remember, we’re also happy to help you as an advocate if you need help getting it approved, implemented and/or promoted. Just contact us and we’ll help you get started.

Moriss Partee was kind enough to launch a topic about DriveUp Savings at EverythingCUMarketing.com.

Six credit unions in Indiana have launched a cool looking program that helps members save when getting a car loan. Not only does the program help your members build up their savings, it has the additional impact of increasing the CU’s deposit balances.

The Financial Brand has posted a nice profile of DriveUp Savings.

The site is “an online publication focusing on issues and advice that affect bank and credit union brands.”

With a razor-sharp focus, The Financial Brand provides strategic analysis and insight on a range of critical brand-building tools, along with real-world examples, ideas and practical advice about the issues financial institutions face today.