During the past year, the $970 million Xceed Financial Credit Union of El Segundo, Calif., has boosted enrollment in e-statements by more than 20% by implementing incentives such as cash bonuses and gift sweepstakes for members and staff.

As a result, more than 23,000 of the credit union's nearly 67,000 members – about 34% – are now enrolled in e-statements, Xceed Financial said.

In addition to a sweepstakes featuring prizes such as a 27-inch iMac computer and iPads, the credit union began offering a $5 cash bonus to members that sign up for e-statements and $2 cash bonus to associates that encourage them to enroll.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.