MMCCU offers two programs that might help you with your holiday shopping:
Holiday Club – A popular account for the holiday season. Funds saved throughout the year are transferred September 30 into your savings or checking account to be used at your discretion for the upcoming holidays. Start saving for the next holiday season October 1.
Saver’s Sweepstakes – Saver’s Sweepstakes® is The Wisconsin Credit Union League’s statewide prize-linked savings program. Saver’s Sweepstakes share savings accounts are designed to help individual credit union members save while giving them chances to win statewide cash prize drawings.
Here are some holiday shopping tips to consider:
Make a holiday budget: Include things like gifts, travel, food, and the little things that might pop up.
Start early: The longer you wait, the more likely you are to get stressed and impulse buy. Plus, planning ahead helps you find more ways to save.
Track your spending: It can be easy for your budget to spiral out of control, which is why keeping track of expenses is critical. Use a spreadsheet or download a free app to help you keep track.
Don’t get caught up in the sale: It’s really easy to get swept up in holiday shopping deals, but before you buy do your homework to make sure it really is a good deal. Also avoid impulse buys – take time to research coupons and other cost-saving apps before buying something just because it has the words “on sale!” connected to it.
Cut back on extras: Make your coffee at home instead of buying an expensive Pumpkin Spice Latte, make your own greeting cards instead of buying expensive store cards, re-use paper bags instead of fancy wrapping paper. All these little things add up!
Start a low-cost tradition: Drive around town and view the Christmas lights, make Christmas cards together, go sledding, watch a movie with hot chocolate at home.
Keep your key messaging clear and concise, and focused on your card products’ competitive differentiators—low everyday rates and minimal fees. Let consumers know that you developed your credit card products with your members in mind. While other credit cards may distract members from their high annual percentage rates (that are rising at record speed) by offering attractive short-term rewards, your card products alone can save your members money every day. Per NCUA, average credit union credit card APRs are just 11.32%, compared with a national average of 19.61%, according to a July Nerd Wallet article.
As always, MMCCU is here for you! Give us a call or contact us online.