For Immediate Release
Tuesday, June 15, 2010
Ventura, Calif. – Ventura County Credit Union (VCCU), the largest Credit Union headquartered in Ventura County, in compliance with Regulation E, has been asking members to opt in to their Courtesy Pay program. The response thus far has been overwhelmingly positive.
In spite of the negative press over bank- and Credit Union-imposed overdraft fees, VCCU has found that vast majority of their members prefer to have the option of being protected with Courtesy Pay, whether by ATM/debit card or by check.
VCCU had always offered their Courtesy Pay Program to all 25,000 members with checking accounts, and are now going through the process of verifying with members it is a program they still want. To ensure they hit their goal of getting 17,000 members to opt in by the August 15, 2010 deadline, VCCU began reaching out to their members in April through e-blasts, mailing inserts, Web site banners, in-branch merchandising and in-person communication through the branch and call center staff. A team-oriented incentive plan was also created that set up company-wide monthly goals and rewards for achieving those goals. VCCU has celebrated hitting their target numbers two months in a row.
As of June 1, 2010, 9,000 VCCU members have opted in—an opt-in rate of 95%. The most effective method has proven to be speaking to customers as they come into the branch and explaining to them the details of the Courtesy Pay program while their attention is focused on their finances. VCCU attributes their high rate of success to the trust their members have for them.
“We have implemented programs that waive or reverse fees for first-time overdrafts, and we also teach our members how to avoid future overdrafts and lower their Courtesy Pay fees,” says Gavin Bradley, Vice President of Member Service. “Because of this, our members have developed trust in us over the years that we are looking out for their best interest. This gives them a further sense of security with VCCU and with the Courtesy Pay program.”
ABOUT VENTURA COUNTY CREDIT UNION
The Ventura County Credit Union was chartered in 1950. It is the largest Credit Union headquartered in Ventura County, with five offices, nearly 50,000 members and $483 million in total assets. It offers a complete line of loans, federally insured savings, 24-hour electronic access services and more. Call 1-800-339-0496 or visit www.vccuonline.net for more information.
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Contact: Danny Bracco
(805) 402-7835
danny@mustangmktg.com