Cha-Ching! CUs, Members Benefit From a Coin Program

In today’s fast-paced, financially focused world, it is becoming increasingly difficult to reach out to others in a meaningful way. Since credit unions exist for the betterment of their members, they have an especially keen motive to find and maintain a real and relevant connection between the institution and its members. A well-run coin program can be that link. From vintage to latest releases, from circulated to commemorative, coins have always been popular gifts. They are also something that your members would expect to be able to obtain from you. A well-designed and run coin program is not only relevant to your members, it is also beneficial to both the credit union and its members.

Coin collecting has been called the “hobby of kings” but now that euphemism may be altered to the “king of hobbies” as more than 139 million Americans have taken up this fun and fascinating pursuit. This increase is due in large part to the U.S. Mint’s 50 state quarters program; the growth is expected to continue with the newly released presidential $1 coin program. These coins represent American history in a singularly unique way, providing an opportunity for parents and grandparents to educate their children about this history, as well as the value and importance of money, secure investments and long-term monetary goals.

Offering a coin program also provides your credit union with increased face-to-face contacts, strengthened brand awareness, cross selling opportunities, opportunities to bring in new members, and establishes long-term relationships with your members.