Promoting New Services at Better Horizons Credit Union Christine Russo works at

Question

Promoting New Services at Better Horizons Credit Union Christine Russo works at Better Horizons and is developing several new services the credit union could offer. One idea is for credit union members to take a five-day cruise to the Bahamas. Two afternoons of the cruise will be devoted to financial planning workshops, including choices such as retirement planning, trusts and estates, insurance, charitable giving, taxes, and college savings. Also, a finance boot camp for teenagers will provide basic information about savings and checking accounts, loans, and budgeting. In another initiative, Christine wants to set up a new rewards program for credit union members who use their Better Horizons debit or credit cards. Each purchase with the debit or credit card will contribute to their total reward points, which customers can redeem for brand-name merchandise, hotel accommodations, airline tickets, cruises, and other travel options (detailed in an online and paper merchandise and travel catalog). Members get one point for each dollar spent on their credit cards andone point for every two dollars spent on their debit cards. One advantage of the program is that points can be combined across accounts. So, family members friends who are members of the credit unioncan transfer their points to one another's accounts and more quickly gain rewards. The programinvolves no fee, and members with the cards are automatically enrolled in the program. Selling an Idea to the Better Horizons Board Assume the role of Christine and write a letter to the board describing your ideas for the financial planning cruise and the new rewards program

Explanation / Answer

Dear board members,

I´m very excited to share with you my ideas on how to develop new services to our credit union members, I´m sure you will share my enthusiasm and will approve my proposal which is in the benefits of all parties.

My first idea is to offer a cruise to the Bahamas, who wouldn’t want to go to the Caribbean? On this trip members will lean about financial planning with all kinds of workshops and boot camps so that credit union members will have all the information they need for their retirement.

My second ideas is starting a reward program for union members, this program will have a big impact due to its great benefits, every time a customer uses a credit/debit card will earn points which can be exchange with our partners allies and not only that, but the program can be combined with accounts so that all family members can benefit from the program.

Let’s discuss all the details on the next board meeting which is scheduled for Friday

Regards

Christine Russo

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