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.
Premiums:
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:
Associate Membership: In Mauritius, one CU allows these memberships to start at age eight months!
School programmes: Staff from some Canadian CUs visit classrooms to open accounts and take deposits from school children.
Premiums: A CU in Asia offered "Animal banks" to all children who opened accounts. The co-operative sent a letter to the parents explaining the purpose of the programme.
Collecting returnables: In the Republic of Korea, young members can collect empty soft drink bottles, and the CU deposits the earnings in the member's account.
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