Refer And Prospera

How Prospera Credit Union's member referral program rewards loyal members.

Abbotsford, British Columbia, is the twenty-third-largest metropolitan area in Canada. Well regarded for its natural beauty, the city features picturesque views of Mount Baker in nearby Washington State and the Coast Mountains to the northwest. Several Canadian league sports teams call the city home, and the art and culture scene has blossomed over the past several years.

If you decide to visit Abbotsford in the near future, help me earn referral points by telling the airline your old pal Erik Payne sent you. And if you want to turn in any of your vacation time as a business expense, then be sure and stop by the corporate offices of Prospera Credit Union. It’s one of Canada’s largest credit unions, nearly $2.5 billion in asset size, but still knows one of the strongest ways to encourage organic member growth is through friend and family referrals.

The best advice often comes from those who know your wants and needs. And with its Member Loyalty Program, Prospera rewards both parties in the referral relationship. Everyone wins. Or, rather, everyone can win. You see, Prospera doesn’t offer money or points or prizes based solely on the referral. That kind of immediate gratification is nice, but Prospera likes a bit of suspense. It enters the names of both parties into separate, twice-yearly drawings that offer grand prizes like a $500 shopping spree, an Apple TV, and a Galaxy Nexus 7.

Member loyalty is one of the most valuable assets we have at Prospera, reads the credit union’s website. As our member, you already know about the great service and competitive products you receive.

Members can download a referral card from credit union’s website or pick one up at a branch. The referral card requests basic information about the current and new member as well as an acknowledgement from the new member that they were referred and have opened an account. To enter the drawing, all the parties have to do is turn in the card at any one of Prospera’s 16 locations.

On its website, Prospera promises to make a meaningful difference in the financial well-being of our members. Sticking to a promise like this is essential if a credit union wants to build loyal members, and no member referral program will work if the institution doesn’t have a loyal membership base. Loyal members are more likely to sing the goodliness of your institution than those who just want a loan or a one-off product offering. Loyal members are invested in the institution’s success; if you can afford it, give back and thank them for their endorsement and loyalty. They’ll repay you in kind after all, this kind of sincere relationship building is self-perpetuating.

February 14, 2014

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