WOODBRIDGE, Va. (8/15/12)--Woodbridge, Va.-based Belvoir FCU used a two-month promotion to change members' purchasing habits while giving the credit union's debit card front-of-wallet status.
"SwipeStakes" encouraged members to swipe their Belvoir FCU debit card on purchases of $5 or more and select credit/sign for their transactions. By completing routine tasks, members would automatically be entered to win an iPad, iPod, or $100 iTunes gift card in June and July. Members also were permitted unlimited entries, since each qualifying swipe counted as one entry.
After the two-month campaign ended, the credit union saw, on average, a 7% lift in overall transactions and a 10% increase in signature-based transactions, including a 9% bump in signature-based transactions over $5. There also was a 3% boost in debit cards with at least one transaction, the credit union said.