Everybody loves holidays. Who can resist these occasions? Definitely, no one since holidays are fun. The greatest irony regarding holidays, though, that they tend to go against what people are taught from a young age is that money cannot buy happiness. Whether that is true or not is debatable, and there are far better venues for such discussion. However, no one can deny that gifts put the loveliest smiles on people’s faces, not just those who receive presents but also those who give them.
Sadly, these smiles come at a price. The holiday culture is no doubt a giant commercial machine. To show others how important and appreciated they are, people often have to dig deep in their pockets. Some holidays more than others also burn holes in the pockets of the very people who want nothing but to spread love.
But there is one annual event that has the consumers’ best interests in mind – Black Friday. People begin their yearly tradition of writing a Christmas wishlist as early as the morning after Halloween. The items on these wishlists can be as simple as a new set of scented candles or something that is a little pricey, like a new car to replace the one you are currently driving. Whether the perfect Christmas gift for you and your loved ones are a necessity or a little luxury to reward yourselves, it still will cost money. But the great thing about Black Friday, an all-American tradition since 1932 that marks the beginning of the Christmas shopping season, is literally everything is sold at a discount. These discounts are not your typical five or ten percent discounts. The proof is the millions of people who leave their houses after Thanksgiving dinner to queue outside shopping malls and department stores to take advantage of the outrageous discounts.
Want a top of the line smartphone for up to a quarter of the price? How about a new entertainment system sold at the lowest possible price? Whatever it is that you have in mind, Black Friday is the ideal time to make these purchases.
However, not everyone has the money to afford these amazing deals. In addition, the last thing on people’s minds is racking up mountainous credit card bills with ridiculous rates. This is the time when financial credit unions come in—to help people afford their Black Friday dreams even when they are currently short on cash.
Black Friday is also a great opportunity for financial credit unions to boost their membership growth.
Here are Black Friday loan promotion ideas for your financial credit union:
1) No credit check loans
A $1,000 to be paid in $92 increments for twelve months starting after the holiday season is a surefire loan promotion idea. Since there are no credit checks, this type of loan can be offered to members who have been with your financial credit union for a certain amount of time. These loans can be offered for a period of one or two weeks during the Thanksgiving season.
2) Limited slots are another incredible Black Friday loan promotion idea
Since such loans will not be available for everyone, members will be rushing to sign up.
3) Explain to financial credit union members that Black Friday loans are more than just loans
They can also aid in building or repairing their credit history and credit score.
4) Financial credit unions can offer spending money sweepstakes on top of the Black Friday loans they are already offering
A couple hundred bucks might not seem like a lot of money, but when it is given away to people who participate in Black Friday
loans, members will certainly flock into your financial credit union to sign up.
5) Auto loans are hard to resist
That is the reason why they make an incredible Black Friday loan promotion idea. Offer your members a couple of choices, like a $1.99 annual percent rate for up to five years or a 2.49 annual percent rate for a six-year period on both new and used cars.
6) Offer incentives for refinances
The idea of offering incentives for refinances from another money lender on top of low loan rates is the type of Black Friday loan promotion that people are looking for.
7) Promote auto loans at a very low rate
Sometimes, people spend a lot of time to decide whether they should sign up for that Black Friday loan. Many of these people cave in after realizing the benefits they can reap from this opportunity. In some instances, though, there are limited slots for Black Friday loans. To get people to sign up, financial credit unions can offer signature and auto loans at a very low annual percent rate and increase it after a certain time has passed or after a certain number of people have signed up. The excitement this creates is what makes it a great Black Friday loan promotion idea.
8) People like giving back to the community
A financial credit union’s values and the organization it is associated with are some of the reasons that members choose to keep their memberships. Apart from offering Black Friday loans, a financial credit union can tell its members that it will donate a certain amount of money to charities or hospitals for every Black Friday loan that its members will avail.
9) Extending loan periods by a week or even a month after Black Friday is a loan promotion that no member will want to miss
If they would rather stay at home and eat leftover turkey while everyone is shopping on Black Friday, they still have a chance to make purchases at a later date with your extended Black Friday loan.
10) One of the reasons why people rely on financial credit unions is they need a mortgage provider
While Black Friday is commonly associated with shopping at malls or department stores, your financial credit union can also offer mini mortgages for very low annual percent rates without closing costs.
Black Friday is not strictly for consumers. Financial credit unions can also benefit from this annual event. With these Black Friday loan promotion ideas, financial credit unions will not only be providing unmatched service to their members, they will also see their businesses hit an all-time high.