Members that purchase a certificate of deposit online will be entered to win an Apple iPod Touch.
The contest runs from April 1 through May 31, and a prize winner is selected by random drawing from all entries submitted by participating credit unions.
CU*Answers offers predesigned marketing materials for participating credit unions to use to promote the contest that range from statement inserts to a Web ad.
Maggie Rosenbaum, marketing coordinator at BTCU in Benton Harbor, Mich., said the credit union has had success with using CU*Answers contests and promotions in the past. BTCU promoted the CD contest through a newsletter, banner and e-banking message, and Rosenbaum said they had several members ask about the contest before it even started.
"It's a good way to educate members about our competitive online banking product," Rosenbaum said. "CU*Answers has a well thought out and planned marketing campaign for credit unions to use for a reduced cost."
Rosenbaum said BTCU typically participates in an e-mail address collection contest through CU*Answers that runs through June 1 through July 31 and has participated in e-statement enrollment contests, CU*EasyPay contests to encourage online bill pay and an online loan application promotion contest.