Wayne County Community FCU’s Online Ads Aid Bottom Line
As far as Chris Blough is concerned, even a modest amount of noninterest income is welcome and there can be some additional spinoff benefits.
Blough is CEO of Wayne County Community Federal Credit Union in Smithville, Ohio. Nearly year ago, the cooperative began using the Segmint program from Sharetec Systems, a core processing provider in Lino Lakes, Minn.
Blough said Segment basically derives information from the WCCFCU’s online banking program. It will show them advertisements based on what kind of transactions they’re doing, which was the first area tested. Last October, the credit union introduced an advertising platform that allows it to go out to local businesses and sell small spots in a column on WCCFCU’s home page in the Member Rewards section.
The ads are designed and placed on the website through Segmint. Blough said the credit union reaps benefits not only by helping local businesses and giving members a discount on products and services they want, but also generating non-interest income from the sale of the ads.