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Clean slate promo results in 4000 loans
ANCHORAGE, Alaska (1/31/11)--Credit Union 1, a $711 million-asset institution in Anchorage, Alaska, recently offered members the chance to start the year off with a “clean slate” on their loan payments--and saw a corresponding increase of nearly 70% in new-loan volume over the same time last year. During the credit union’s “Clean Slate Giveaway,” members who closed on a loan were automatically entered into a drawing to have all of their loans at the credit union paid off, up to $25,000. The credit union launched the campaign as a way to differentiate itself from the competition, said Rachel Ramsey, vice president of marketing and communications. The $25 gift card drawings were incorporated into the Clean Slate Giveaway to keep motivation and enthusiasm alive throughout the three-month promotion, Ramsey added. She said the key behind any successful promotion is to get employees behind it so they the feel comfortable talking about it with people.
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