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Michigan Credit Union League

Simple Ways CUs are Helping Members at Tax Time

April 15 is approaching, which probably means more than a few members are scurrying to file their last minute taxes. While they anxiously await their tax returns, credit unions should be asking if they are getting everything in return from their MCUL affiliation, including the Love My Credit Union Rewards Turbo Tax discount.

Love My Credit Union Rewards offers enrolled credit unions a discount on the nation’s foremost online tax preparation service, Turbo Tax, which is accessible to all employees and members.

But how do you get members to take advantage of the discount?

“Love My Credit Union Rewards makes it very easy to use this program,” Kaylee Williams of Honor Credit Union said. “We follow the recommended schedule for emails to members given to us by Love My Credit Union Rewards, which we send to members of ages 18-79.”

Outside of sending the suggested emails, Williams stated that Honor CU employs a couple other marketing tools they have found effective. “We prominently feature the Turbo Tax discount on our website as well as placing the Love My Credit Union Rewards program bundle handout in our lobbies.”

Deidre Davis of Michigan State University Federal Credit Union (MSUFCU) agreed that marketing the Turbo Tax discount (as well as other benefits from Love My Credit Union Rewards) across multiple channels is key. Davis also stressed the importance of being proactive and consistent.

Every year, MSUFCU promotes the Turbo Tax discount through internal and corporate communications from January through April. Alongside using similar marketing techniques as Honor, MSUFCU sends reminder emails, places discount information on in-branch TVs, advertises Turbo Tax in members’ monthly statements and consistently posts about the discount on social media leading up to Tax Day.

Other credit unions such as Frankenmuth Credit Union, FinancialEdge Community Credit Union in Bay City and Awakon Federal Credit Union in Gaylord offer free tax prepartion through the VITA program which recieved mention in a recent Lansing State Journal op-ed.

Follow the lead of several Michigan credit unions by offering free or discounted tax preparation. These efforts can go a long way toward building and retaining member loyalty.

Find out more about Love My Credit Union Rewards and how to enroll in the Turbo Tax program here.

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2016-04-07 00:00:00