Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Verity CU's bike loans pick up social speed
SEATTLE (3/10/14)--Credit unions are known to cater services to their memberships. That's why it was no surprise when Verity CU, based out of bicycle-loving Seattle, rolled out a new loan program just for bike riders.
 
Click to view larger image Click for larger view
But while Verity, with $422 million in assets, isn't the first credit union to offer a bicycle loan program, the way the organization advertised the new service in 2013 was perhaps unique.
 
Using the social media service CafeGive Social--a social marketing app company--Verity launched its loan campaign with a photo contest called "Roll On Seattle," which asked community members to send in snapshots of their favorite bikes.
 
The response was instantaneous, according to CafeGive's website. With a $250 gift card to the winner as an incentive to enter, Verity increased its number of Facebook "likes" by 68%.
 
That's 68% more people who learned the details of the loan program, which includes no payment for 90 days and loan amounts ranging from $500 to $7,500.
 
Verity also donated $5 for the first 100 entries to Bikeworks Seattle, a nonprofit that supports sustainability initiatives, bicycle education and safety.


RSS





print
News Now LiveWire
Registration lottery for #CreditUnion #CherryBlossom Ten Mile Run opens Monday, Dec. 1 http://t.co/AGkKPof5Fy. Race is April 12
12 hours ago
The turkey hasn't even been served and #creditunions are already making plans for #GivingTuesday
13 hours ago
.@bankofamerica's $16.65 billion 'toxic mortgage' settlement finalized http://t.co/BIq1QyImXG
15 hours ago
RT @CUNA: #NussleReport: ICYMI: Revised RBC proposal in January w/a 90-day comment period #Fix RBC http://t.co/T4JcvWBDse
17 hours ago
.@TheNCUA release on Nov. prohibition orders out already. Here: http://t.co/YkA1QIYbYa
17 hours ago