4 Ways Credit Union Members Can Use Holiday Skip-A-Pay Savings

’Tis (almost) the season to give a gift to your members! Now is definitely the right time to make your list and check it twice in making preparations for your credit union’s next holiday Skip-A-Pay campaign. This is a time of year when many of your members could use extra money the most.

Four Ways for Members to Spend Extra Cash

  1. Heating & Electric Bills

Members who live in colder climates will be facing significantly higher home heating prices this year. A global energy crisis coupled with the fastest growing inflation in 40 years is behind the unprecedented increase. As temperatures drop, heating bills are projected to rise by 17% overall nationally. This will usher in the highest cost of heat in over a decade.

  1. Holiday Shopping

Delivering the items on the wish lists of friends and family can be stressful. And while we often say that the holiday shopping season gets earlier and earlier each year…this year, it really is. It is October, and major retailers have already kicked off the holiday season with special sales which are projected to run through the new year. From Target’s Deal Days to Amazon’s October Prime Day, members are being targeted earlier than ever before with holiday deals.

  1. Shipping Fees

For the third year in a row, the United States Postal Service is increasing shipping fees during the holiday season. Effective October 2 and running through January 22, 2023, surge pricing increases vary based on a number of factors, including package size, service, and zone.

  1. Travel Costs

After two years of pandemic precautions, demand for travel has rebounded. Hotel rates are expected to rise 7%, airfares already have increased 33% year-over-year as of August 2022, and Christmas airfares alone are up 31%. With inflation and fuel prices, this trend of increased travel expenses is expected to rise.

Plan Your Skip-A-Pay Campaign

For years, credit unions have turned to the Synergent Marketing Services team for assistance in preparing their Skip-A-Pay campaigns. Each year, the team prepares new seasonal designs that credit unions can either use as a starting point to develop their own creative Skip-A-Pay campaign, or that they can opt to use as-is with their own branding.

“We want to make it as easy as possible for credit unions to offer Skip-A-Pay to their members,” explained Doug MacDonald, Vice President of Marketing Services for Synergent. “Our award-winning team routinely prepares skip-a-pay campaigns and sees first-hand the significant benefit they provide to members and the great return they can provide to credit unions.”

Get started today by reviewing the 2022 Skip-A-Pay templates, then contact our marketing team to discuss further.

Learn More About Skip-A-Pay Campaigns