United Heritage FCU's new checking rewards members

AUSTIN, Texas - In the race to be the credit union of choice, the new United Rewards checking is shifting United Heritage Federal Credit Union into fifth gear. For a fee of $5 a month the United Rewards checking offers members not only checking advantages but travel packages, security advantages, shopping services, ID Network Safety Service and preferred loan rates. "An account like this has never been offered in this area," said United Heritage FCU President and CEO Buddy Schroeder. "We are pleased to make this money saving account available to our members." According to Vice President of Marketing Susie Davison, the account is a great way to boost United Heritage FCU's checking portfolio. In spite of a merger with the Texas Hospital Association, its checking account portfolio consisted of less than $21,000. Given the competition from all the major banks and the five major credit unions in the area, United Heritage FCU had to develop a unique product. "Working with FISI Madison, who sold us the package, we then brainstormed about what our members wanted most-preferred rates and discounts on our Web BillPay service," said Davison. "And added our personal touch by designing the brochure and doing all the graphics in house." Designed to appeal to the credit union's diverse field of membership the United Rewards checking account offers such services as grocery coupons, a monthly date reminder service, travel savings cash rewards consisting of 5% of lodging, airfare, car rental, cruise and package trip expenses, and even a registry for documents and personal property. Davison says, as the name implies, all members who enroll are rewarded. For those members over the age of 50, the checking account is available at an even better monthly rate. With so many rewards, United Heritage FCU made in depth training of the employees a priority, and held a huge kickoff party to review the features and benefits. With an employee incentive program and healthy competition among the branches each week, keeping the staff motivated is easy. In addition to sending out direct mails with $5 checks to automatically enroll existing members, United Heritage FCU also has posters and banners all over the lobby and even uses branch television monitors to spread the word. Members are also reminded of the new checking account while on hold or standing in line because a message is played over the muzac system. Davison said the heavy push is paying off. With a target goal of 500, already 514 checking accounts have been opened in the first month. Of the total, 208 are new checking accounts and 306 have been converted. "With all the competition in the area we just wanted to offer something that would distinguish us from the others," said Davison. "And the fact that there is such a mixed bag of benefits means that there really is something for everyone." United Heritage FCU has $230 million in assets and serves 59,000 members. -mbourjolly@cutimes.com