We are here to ensure that the financial well-being of you and your members are taken care of during this difficult time.
This month, we would like to focus on being available for cardholders and meeting their needs. This includes providing members with knowledge about the features and benefits of self-services, specifically the MyCardInfo platform.
We are in this together
If you need us, we’re here. We want you to know that we are committed to you, our partners, and your cardholders. As every situation is different, we are working with cardholders on a case-by-case basis to be able to provide them with the most appropriate financial support. As the situation evolves, we are committed to helping your cardholders alleviate some of the financial difficulties they are currently experiencing. More information, additional updates, and Important announcements on our Financial Relief Program will be posted on Collabria Connect as they come. So keep in touch! and check Collabria Connect for updates coming soon.
We encourage all our partners to focus on providing their cardholders with support and options, during this time when they need us most. We have a wide range of tools that will help you address your cardholders’ questions and concerns:
Remain up to date on the Financial Relief program by reviewing the FAQs on Collabria Connect, additional updates will be posted soon!
We highly recommend that our partners focus on educating cardholders on the benefits of the MyCardInfo platform, as it is an efficient and safe method to access their credit card accounts online.
Q1 Contest Update
We have suspended all in-branch contests to allow branch staff to focus on supporting cardholders during the current global pandemic. Given this and the inability of most staff to participate, we will not be drawing and announcing winners. We will instead allocate the prizes for future EIP initiatives when the time is appropriate.
Providing Financial Support
To those partner credit union staff who are currently working on the frontlines, you have probably come across many members who are no longer working or working much less. This invariably puts pressure on their finances and abilities to take care of their families and cover their expenses, credit card interest charges and annual fees included. It is the right time, more than ever, to educate members and cardholders about the upcoming 5.9% balance transfer offer (for non-Collabria credit card accounts) that starts in May.
Better yet, offer them the opportunity to transfer their balances to the Centra Gold credit card product that has a permanent low interest rate, currently at 9.9%.
The Centra Gold card is an excellent card to compliment the 5.9% balance transfer and the upcoming Grocery Spend Promotion. With a highly competitive low annual fee of $50 and a current low interest rate of 9.9%, the Centra Gold credit card provides lowered interest costs and peace of mind during this difficult time, including earning valuable rewards points each time they make purchases.
In-Branch and Online Support
Frontline staff can refresh their knowledge on the Centra Gold credit card using the communication tools, newsletters and content from Q1.
The Q2 marketing campaigns are designed for in-branch and digital (online) execution and digital marketing assets will be available on Collabria Connect before launch.
The campaign period will run from May 1 – July 31, 2020.
Q2 Marketing Campaigns: Our objective is to focus on supporting cardholders during this challenging time by providing them with relevant offers. These initiatives continue our efforts to build ‘top-of-wallet’ presence for our products and deliver real and tangible benefits that contribute to their current and future financial well-being.
5.9% BALANCE TRANSFER OFFER
This campaign will allow cardholders (except holders of USD accounts) to bring competitor credit card or loan balances to their account and take advantage of the promotional rate for up to 6 months.
GROCERY SPEND PROMOTION
This campaign will support cardholders’ need to focus on purchasing essential products, which are top of mind for your cardholders at this time.
Compared to using cash or other forms of payments, we are drawing attention to the fact that our credit card products have an important role. For instance, secured wireless/tap and online payment capabilities, monthly statements that organize payment transactions, full online account servicing access, and scheduled, affordable payments are just some of the conveniences and benefits.
TIPS & TRICKS
We encourage you to leverage your online presence to communicate these new offers to your members, where appropriate. You can:
Many of our partners already accomplish this successfully. BlueShore Financial offers a great example on their home page of how this can be accomplished effectively:
We are continuously gathering feedback in order to keep our program relevant to your needs. Let us know what you think of our newsletters and the overall Milestones 2020 program by submitting your feedback here