In an effort to make social media interactions with members more meaningful, the Boulder, Colo.-based Elevations Credit Union has challenged the community to step up for a worthy cause.
The $1.1 billion credit union will donate $1 to the Elevations Foundation for each new “Like” on Facebook and an additional $1 for each new tweet on the subject.
According to Dennis Paul, assistant vice president of business/community development, the move is designed to not only build more fans but also give back to the community. In 2011 the foundation delivered nearly $60,000 in community grants. As the giving arm of the credit union, in addition to providing scholarships, the foundation supports organizations in the community that focus on early childhood development, mental health and environmental education.
A similar strategy has been implemented by Plymouth, Mich.-based Community Financial Credit Union, where it’s offering locals a chance to give a collective thumbs up and $25,000 to their favorite charities.
From March 5 through March 30, Community Financial accepted nominations from individuals sharing which charitable organization deserve a donation in recognition of the good work it does in the community. Five finalists will then be chosen and members will vote for the charity that deserved the $10,000 grand prize. Charities that finish in second and third place will receive $5,000 each and the fourth and fifth place finalists will each receive $2,500.
"The nonprofit groups in our communities do an amazing job, and we are proud to support them throughout the year," said Bill Lawton, president/CEO of the over $477 million. "However, we wanted to provide the residents of our communities a chance to tell us which groups they think deserve recognition and this gives them that opportunity."
Credit Union ONE in Ferndale, Mich., can attest that the strategy of tying good deeds to their social media strategy. A recent Random Act of Kindness promotion in just the first week quadrupled the number of Facebook fans from 459 to 1,854.
“We were pleasantly surprised at the overwhelming response from both our current and new fans over that short of a time period. From the significant number of likes and the many positive comments that have been received, this is proof to us that this channel works, and messaging is key,” said Swami Seetharaman, chief marketing officer at the $739 million credit union.
The credit union has also been using its Facebook page to host online chats.