"You shouldn't have to wait for your first million to see a decent return on your money," was the message of BECU's ($7.6B, Seattle, WA) commercial to promote their Member Advantage and Early Saver Programs, for members younger than 18. The programs, which gives a premium rate to savers (with deposits starting at just $500) is part of the credit union's efforts to put people in front of profits.
With a creative enrollment approach, BECU's share growth strategy encourages small savers to become habitual savers. Ken Myhra, product and delivery channel manager at BECU joined a panel of innovative credit unions on a Callahan Webinar Network event entitled Share Growth Strategies in a Lean Market. He discussed BECU's savings programs which help both youth and adult members to learn the value of saving for the long run.