No annual fees and competitive rates help push credit cards to top-of-wallet

Northwest Federal Credit Union ($3.3 billion, Herndon, Virginia) has launched a “Spend and Get” promotion that's designed to increase credit card awareness, while also making the credit union’s card top-of-wallet.

From May 1st through July 31st, members can receive a $50 statement credit when they spend $3,000 in the first 90 days of opening their new card. All of the credit union’s credit cards are eligible for the offer.

Harmonie Taddeo, Vice President of Marketing and Communications, says that although the campaign is solely for new cardholders, it is designed to encourage the member to choose and use the Northwest Federal card.  There are also minimum requirements, such as the card must have a limit of $1,000 or greater.

“First and foremost, we always want to raise awareness of our offerings to our members and prospective members,” says Taddeo.

She says the credit union offers four credit cards, ranging from reward points to rate-driven cards, along with a card designed for credit builders.  “Our credit cards do not carry annual fees and offer very competitive rates, so they can often save members money.

“In addition, we offer a rewards program with great travel benefits.  Our goal is to put our card in members’ hands and top of wallet.  As a credit union, income earned from interchange is directed right back into the products and services we offer to our members, so the more they choose Northwest Federal, the more we can offer to them.”

Taddeo says the credit union ran a similar campaign last year.  “Many members were able to take advantage of it.  This year, we only offered the promotion for new credit cards, versus rewarding loyalty and usage, which we did last year.”

The credit union is promoting this year’s offer through digital channels.  “We market the campaign to our members who do not yet have a Northwest Federal Credit Card through more traditional methods, such as e-mail, statement insert, and postcard.”

She reports that as a result of last year’s promotion, the credit union saw over a 345 percent return on investment for new cardholders, and she expects this year’s promotion to produce similar success.

Source:  Harmonie Taddeo, Vice President of Marketing and Communications,
Northwest Federal Credit Union, Herndon, VA; phone (703)709-8900, ext. 4416;  e-mail

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