When you think of Skip-A-Pay, does summer come to mind as the right time for this offer? We hope “yes!” is the answer you have! While members have many motivations for wanting to take advantage of a Skip-A-Pay promotion, below are our top five reasons your credit union may wish to offer summer Skip-A-Pay to your members this year:
Summer is historically a popular time to hit the road, have an adventure, and make memories. Especially after a year where travel was significantly limited, members are eager to take trips for leisure and to catch up with relatives. By skipping a payment on an eligible loan, members can use the freed-up cash for things like transportation, admission fees, and accommodations.
- School Break
The impact of summer break cannot be understated. Parents may find they have increased childcare expenses while educators are off for the summer. Many members can benefit from skipping a payment while schools are out for the summer.
- Monthly Bills
Yes, your credit union loan is a bill. But by opting to skip a payment, members may be able to focus on other higher interest bills they wish to pay down.
- Pandemic Assistance
With restrictions lifting, it may feel like the pandemic is over. Unfortunately, the financial impact may be felt by many members for quite some time to come. Offering Skip-A-Pay can provide relief as members get back on their feet.
- Reward Loyal Members
Your members are why your credit union is here. Offering Skip-A-Pay is a value-add to their membership and is an excellent way to thank them for their loyalty.
Your credit union is why we’re here. Our award-winning Marketing Services team works only with credit unions and has prepared sample mailers to inspire your next Skip-A-Pay campaign that we’d love to share with you. Contact us today to start the conversation about your next Skip-A-Pay campaign!