League/LSC
IIA Update
Wednesday, January 19, 2011
Contents
• Top LSC’s
• Credit Union Agreement Status
• What’s New
–
–
–
–
–
CMG/Liberty Mutual
IIA Value Proposition
New Credit Union Agreements
Sprint Exclusivity
Military Program
• Updates
– Sprint/Best Buy Campaign
– New Simplified DIRECTV Offer
– CompleteTax/CUTS
• 2011 LSC Communication Schedule
2
Top LSC’s
January – December 2010
Auto Sales
Texas
Sprint Supporting Credit
Unions
21,111 Tennessee
61
Florida/Alabama
8,584 Pennsylvania
59
Pennsylvania
5,963 Illinois
56
California/Nevada
5,741 California/Nevada
54
New York
4,985 Missouri
35
3
Support Status
Program Support Grows!
Credit Unions
States / Leagues
12/09
12/10
Increase
12/09
12/10
Increase
2,125
2,407
282
46
46
-
Sprint
542
1,205
663
28
38
10
Member
Rewards
NA
2,324
2,324
NA
27
27
Big Ticket
•
Check on the status of your credit unions with the League Reports at:
http://www.lovemycreditunion.org/Additional_Invest_In_America_Reports_for_Leagues_272.html
•
3rd Quarter Endorsing Credit Union and League checks will be mailed at
the end of January
4
What’s New
CMG/Liberty Mutual
•
IIA partnered with CMG to provide Members Auto and Home insurance
•
Insurance underwritten by Liberty Mutual, valid in 49 states (Excludes Alaska)
•
Credit unions already partnered with CMG
•
–
Nothing changes, members simply have additional access point
–
Commissions on policies written thorough IIA will still earn the same commissions for Credit unions and Leagues
Credit unions not partnered with CMG
–
Sign up to make insurance available to your members via IIA
–
Commissions will not be paid to credit unions that do not have a contract with CMG
•
Provides a channel members prefer: 63% of insurance buyers look for internet
access to quotes*
•
Members receive a discount of up to 10%
•
Generates additional not interest income for the credit union with no additional
expense
* To the extent permitted by law, applicants are individually underwritten; not all applicants may qualify
***ComScore Auto Insurance Report, March, 2009
*** Discounts are not available in all states and discounts may vary by state. The insurance offered is not a deposit and is not
federally insured or guaranteed by your credit union
5
IIA Value Proposition
•
In 2011 IIA will focus its efforts to bring value to credit unions by
supporting their core services
– Grow and retain members & drive member loyalty with IIA an exclusive credit
union member rewards program
– Generate more auto loans with GM Preferred pricing
– Grow credit/debit card transaction volume with ShopAmerica and more than
1,200 merchants
– Generate non-interest income with Sprint’s wireless services
• When visiting with your credit unions and discussing IIA, please
reinforce these values and benefits of supporting IIA
6
What’s New
Credit Union IIA Agreements
• Agreements will be simplified to one level of support
– Letters will be sent this month to participating credit unions
who have agreement anniversaries in 1st quarter 2011.
– Credit unions will be paid through the quarter of their
anniversary date.
• Incentive dollars will be put back into national
marketing efforts for more efficient use of funds
7
What’s New
GM Loan Pre-Approval
• Developing loan pre-approval
solutions for credit union members
on GM credit union micro site
• Easily directs members via web
link back to credit union for loan
pre-approval
Find a Credit Union tab added
below Find a Dealer
– Increase loan volume
– Demonstrates commitment from GM
• IIA to inform credit unions of
opportunity
– Communication to be sent in January
– Solicit participation
– Obtain and manage link information
8
GM Credit Union Micro Site
What’s New
GM Military Focus
•
Developing loan pre-approval solutions for
active and reserve military personnel
(excludes retirees) on GM Military site
•
Credit unions with large military-based
membership segments can have link from the
GM Military Discount micro site to their loan
approval system (Not exclusive to credit unions)
•
IIA is seeking your help to identify potential
CUs. Please e-mail list of CUs in your state to:
[email protected]
– Please include:
• Credit union name and contact e-mail
address
• Approximate percentage of membership
in active or reserve service
• IIA to follow-up with CUs for link
information
9
Find a Credit Union tab
added below Find a Dealer
GMMilitaryDiscount.com
What’s New
New Sprint CU Agreement
•
Necessary due to marketplace competition trying to duplicate the Sprint program
–
–
•
T-Mobil
Verizon
To keep the Sprint program viable and share incentives fairly among credit
unions, it is necessary to adjust the agreement to include two tiers of incentives:
–
–
Exclusive -100%
Non-exclusive - 50%
•
All other marketing requirements remain intact
•
CUs with agreements dated January 1, 2011 or later will receive a new
agreement this month
–
•
Their original start date will not change
Existing CUs as of December 31, 2010 will receive an addendum, in April, to
take effect for the new contract year in October 2011
10
Updates
Sprint/Best Buy
• Partnering with Best Buy in the Northeast
region to provide 10% off on accessories to
credit union members – in store only
– CT, DE, MA, NH, NJ, NY, PA & RI
• ValPac insert will reach over 7.3 million
households
– February - 6.9 million households
– March – 440 thousand households
• If successful, a national program will be
considered
11
Updates
New DIRECTV Offer
•
New simplified program offers greater savings to members
•
$100 discount for new activations as follows:
– $60 discount by way of $5 off each month for the first twelve months (same
as today)
– $40 rebate that CU Growth Solutions will administer
•
Provides more cash in members hand
•
Eliminates need for credit unions to identify member accounts to make
deposit
12
Updates
Tax Filing
•
IIA preferred partner, CompleteTax
– Credit union members receive a 30% discount
– Basic package is free, others start at $13.95
– Plus 3 offers to file your Federal forms free: Unemployment , Balance Due,
and Switching from a competitor
•
Shop America also offers two additional preparation programs with cash
back
– FreeTaxUSA – 25% cash back
– TaxCut (by H&R Block) – 11% cash back
•
Credit union newsletter article available at:
http://www.lovemycreditunion.org/Marketing_Materials_148.html
13
Future League
Communications
•
League Conference Calls will be held the 1st month of each quarter on
Wednesday’s at 3pm EST*
–
–
–
–
•
January 19, 2011
April 13, 2011
July 20, 2011
October 19, 2011
Access Information
– Toll free: +1 (866) 816-1627
– Conference ID: 1177265367
*Attendance required for Leagues Endorsing
or Partnering with Big Ticket and Endorsing
Member Rewards
14