Member Referral Program

Member Referral Program

Members may move—but you can help keep them in the credit union family

It’s no surprise that when credit union members move, they may have to leave your branch. The Member Referral Program (MRP) is one positive step towards retaining members within the credit union system. It is also an opportunity for you, as a credit union professional, to provide a valuable service to your members.

Why the Member Referral Program Matters

Once members move, they’re often lost from the credit union system for good. In fact, studies have shown that 82% of bank customers and only 37% of credit union members stayed with their original type of institution when they moved. Of course, a loss of members means that a significant number of opportunities and dollars are lost, too.

Since its inception in 1996, the MRP has helped retain over 4,000 members and over $117 million within the credit union system in British Columbia. With the introduction of Ontario credit unions to the MRP, it has become even easier to ensure members stay part of Canada’s credit union system, from coast to coast.

How the Member Referral Program Works

Rather than letting members simply move away, you can now help open the door to a credit union near their new home.

The MRP, which is managed by the Central 1 Marketing Department, is designed to retain members within the credit union system when they move outside of their original credit union’s trade area.

The goal? To help members transfer their finances to a new credit union in a simple and seamless fashion. This ensures members are not lost to competing financial institutions during the relocation process.

Contact

For more information, or to find out how you can get involved in the Member Referral Program, click on the links to the left or contact:

Lorraine Yao
MRP@central1.com
Marketing Specialist
Phone: 604.730.6358
Fax: 604.730.6434