FRAN and CD
F
FREE
This account has no monthly maintenance fees and no minimum balance!
What is the number of POS swipes a Member needs to have posted and settled within the cycle to qualify for XCELERATE High Yield and Cash Back Checking?
15 Swipes
This is what happens when the Member does not qualify for rewards
The account is still free, they earn the base APY in XCELERATE High Yield Checking, and MOMENTUM High Yield Savings and they can try again next month!
Potential root causes for "I'd prefer paper statements"
*EXTRA 100 POINTS FOR SOLUTION
Concerned about information security
Prefers a printed statement for record keeping
I don't know how to enroll in Estatements or pull it up when it's ready
How Many Members does Transportation FCU Serve Worldwide?
Transportation FCU Serves 17,000 Members Worldwide.
R
REWARDS
This account rewards you with...
This is what the Member is sent monthly to let them know if they qualified or not
End of Cycle Email, and Lifecycle Marketing
This is the reward for qualifying in XCELERATE High Yield Checking
The Member earns 5.50% up to $25,000,.50% above $25,000, and ATM Fee Refunds up to $25
Potential root causes for concerns over having to qualify
*EXTRA 100 FOR SOLUTION TO OBJECTION
Skepticism- sounds too good to be true. How can you pay these rewards out?
Why do I have to do all this to get the rewards?
I've had an account here for years, doesn't that count as a qualification
Which organizations and communities does Transportation FCU proudly serve?
Proudly Serving the Dept. of Transportation, Federal Aviation Admin, and Over 20 Employer Groups
A
ASK TO QUALIFY
To qualify we ask that you do a few simple things you may already be doing.
This CONDITION is in place to SAVE the Credit Union money. Hint: it's electronic
E-Statements
Did you know a paper statements cost about $2.15 and an e-statement cost about 15 cents!
This is the reward for qualifying in XCELERATE Cash Back Checking
The Member earns 6.00% on debit card purchases up to $200 for a max reward of $12.00, and ATM Fee Refunds up to $25
Potential root causes for not wanting to set up a Direct Deposit or ACH Credit
Payroll Direct Deposit goes somewhere else
Self employed and don't receive Direct Deposit
Doesn't know HOW to switch their Direct Deposit
Company doesn't offer Direct Deposit
What is Transportation FCU's commitment to your Members?
Focused on Members Financial Wellness
N
NO PENALTY
No penalties for not qualifying! Your account is still free and you can try again next cycle
This qualifier is in place to create STICKINESS of account -- because Members don't like to switch these!!
One Direct Deposit/ACH Credit or Debit
The reward in MOMENTUM High Yield Savings when the member qualifies in XCELERATE High Yield or Cash Back Checking
The Member earns 2.00% on their balance up to $100,000 and 0.50% on the balance over $100,000
AND
Their XCELERATE High Yield and Cash Back Checking reward is swept into their MOMENTUM High Yield Savings account where they earn interest on it!
Potential root causes for "I don't use a debit card"
*EXTRA 100 PTS IF HAVE A SOLUTION IN MIND
Concerned about safety or fraud
Prefers their rewards credit card
Prefers cash
Prefers to use cash for budgeting
Doesn't think they can use it 15 times
Doesn't understand how debit cards work
For how many years has Transportation FCU been proudly serving its members
Over 85 Years
CD vs XCELERATE High Yield Checking Member Benefit
•No Penalties
•Liquidity
•Diversify their Deposits
This is how the Member qualifies for rewards in the MOMENTUM HIGH YIELD SAVINGS.
No separate qualifier for MOMENTUM HIGH YIELD SAVINGS! As long as they meet the qualifications in their XCELERATE High Yield or Cash Back Checking, they qualify for MOMENTUM HIGH YIELD SAVINGS rewards.
What Average Daily Balance is required in the XCELERATE High Yield Checking account to earn greater rewards than the XCELERATE Cash Back Checking account?
$2,625.00
This is the first step in handling an objection
Ask why to determine the root cause of the objection.
What does Bauer Financials FIVE STAR rating say about Transportation FCU’s strength and reputation?
This means that Transportation FCU is one of the strongest credit unions in America.