Creative savings-promotion activities by
Credit Unions (CUs)

Consumer stores:
Trinidad and Tobago and other Caribbean CUs offer member-discounts on consumer items, such as refrigerators, ovens and TV sets.

Savings charts:
Some Asian CUs record members' savings on charts. They do not record the names and amounts, only savers' regularity.

Market-day sales:
Once a month in the Republic of Korea, members bring items to sell at the CU. All money received goes to the members' savings account.

Special Clubs:
A CU in Michigan, USA started the "Smart Savers" club for those who deposited a set amount monthly into their savings account.

This is a favourite method of many CUs to attract members. CUs offer practical consumer items such as blankets, cups and appliances, to members who open savings accounts.

Instant Photographs:
Free instant photographs were given to members of a CU in Peru who deposited funds in their CU.

Raffle Tickets:
Consumer items such as bicycles, TVs, cars and electric appliances are raffled off to members who make savings deposits.

Bonus Plans:
The co-operative deposits a small cash bonus to the amounts of members who agree to deposit a set amount each month.

WOCCU also reports on methods some CUs use to encourage children to save:

From: UNCHS (1989), Community Credit Mechanisms. Nairobi, Kenya.
Hari Srinivas -
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