Skip-A-Pay continues to be a wildly popular, win-win program for members and credit unions alike. These campaigns are not new – credit unions have long run promotions inviting members to skip a loan payment for a small fee with no penalty during specified times of the year.
“The credit unions who participate have always stated that members love it and really appreciate the opportunity,” shared Erica Vachon, Senior Marketing Service Representative for Synergent Direct Marketing Services.
Expert Service and Design
Synergent Direct Marketing Services has years of experience and has worked with over 30 different credit unions on data, print, mail, and email campaigns to promote Skip-A-Pay. As a one-stop shop, Direct Marketing Services can provide template designs, customized letters or postcards, and has worked with credit unions on establishing Skip-A-Pay processes that fit their needs.
While Skip-A-Pay campaigns are often run during the holiday season, this program is an easy, effective way for credit unions to promote good will and build loyalty within their membership. “Any time of the year is great for Skip-A-Pay, but we focus primarily on the holiday season. It gives members more pocket money during that time,” stated Vachon.
Data and Tech: Enhanced Skip-A-Pay
Beyond the design and strategy, Direct Marketing Services also can provide clear reporting and analysis of the data that is produced, creating actionable information that can be leveraged by credit unions. In addition to the services provided by Direct Marketing Services, Synergent’s Professional Services Division can implement a PowerOn for Enhanced Skip-A-Pay. With the internal tracking for Skip-A-Pay connected directly to the Episys® Core Processor, credit unions have the ability to:
- Process Skip-A-Pay requests more efficiently through automation
- Control the skip payment criteria based on loan type, the length of the loan, or payment history
- Maintain Skip-A-Pay loan records automatically
“The beauty of the Enhanced Skip-A-Pay PowerOn is it takes something cumbersome and makes it simple,” said Nick Chasse, Synergent Vice President of Business Development.
Want to learn more?
Now is the time to plan your holiday Skip-A-Pay campaigns – the holiday season will be here before we know it! Contact Direct Marketing Services today to get your campaign started!
Are you ready to save staff time and increase efficiency through automation of your Skip-A-Pay program? Contact Professional Services to PowerOn your future campaigns!