An incentivized referral program is a great way for credit unions to use their most valuable resource – their members – to boost their membership growth. Although this is not a novel concept, the implementation of such a program is often left to brute force and a bit of elbow grease. Asterisk Intelligence can help you use CU*BASE Report Builder, Direct Posting, and Unique Data Management tools to simplify and streamline your process. From tracking incoming members to expanding your incentives to logging your top referring members, we are here to help you execute your newest initiative from start to finish. Our data experts stand ready to act!
Custom add-on incentive programs can be created for newly referred members. The price for implementing these additional incentives will vary; a quote will be provided upon request.
What will your order include?
- Custom Field Creation
- Queries to Generate a Comma-Delimited File for Direct/Mail Posting for the:
- Referred Member
- Referring Member
- Additional add-on incentives, if applicable
- Weekly/Monthly Query Automation
- Report for Historical Incentive Payments (past 12 months)
- Training on Use and Implementation
- Processing Guide
What information will we need from you?
- How much do you want to deposit in qualified members’ accounts?
- How long must the new membership be open to qualify?
- What description do you want displayed on your members’ statements for each incentive type?
- Are there any memberships you want excluded from this program?
- Do you plan on paying incentives weekly or monthly?
- For any optional incentives, for how long should the new member remain eligible?
Important note: CU*Answers will need access to Tool 1060, Tool 100, Tool 758, and Tool 1210 to complete this project. When opening a new membership, your staff will be responsible for populating a custom field with the account number for the referring member. Do not use any leading zeroes. The query infrastructure relies on your staff accurately recording the referring member’s account number. Your staff will be responsible for using the Direct/Mail Posting tool to post incentive payments, as well as manually running an “exclusion” query after payments are posted.
