Bonus advertising: The domino effect

With students going back to school, it’s the perfect time for credit unions to market a bonus promotion to encourage individuals to open new accounts. I remember being in elementary school and asking my mom every fall to open new accounts so we could get a new toaster.

For a refresher on what’s considered a bonus, check out our blog Are You Giving Your Members a Bonus? The NCUA has specific advertising requirements credit unions must follow when advertising a bonus, but credit unions must be aware of the domino effect advertising a bonus may have.

If a credit union is advertising a bonus, section 707.8(d) requires a credit union to also state in the advertisement:

“(1) The “annual percentage yield,” using that term;


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