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Lock in New Hot
Money
ISSUE:
Economic uncertainty has resulted in significant inflows of
deposits into the Credit Union that should be targeted for long-term
core products. PRINCIPLE
TARGETS:
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1.
Core A's |
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4.
Multiple Service/ High Balance C's |
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2.
Deposit B's |
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5.
Multiple Service/ High Balance D's |
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3.
Mixed B's |
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6.
Non-Core E's |
SELECT:
Identify households where total deposits have increased
by $20,000 or more in the past six months. 
CONSIDERATIONS:
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Consider
follow-up telemarketing calls to Core A households
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This
is most appropriate when loan to deposit ratios are low
and credit union does not need to grow deposits.
KEY
FINDING:
The average growth in checking, savings and money market accounts was 17% for credit unions this last year. Many consumers are parking money in liquid funds (core deposits) until the stock market begins to rebound.
STATISTICS:
Core A households contribute over 50% of typical institutions profitability.
TACTIC:
Find households who are likely parking money in core deposits and obtain their investment business. Select households who have increased deposit by $20,000 in the last six months.
OFFER:
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Mutual Funds to Credit Driven and Middle Market HHs
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Asset Management Accounts to Upscale HHs
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Annuity Accounts to Depositor HHs
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