Personal Loans | Overdraft Line of Credit
Personal Overdraft Line of Credit Promotion
Staff Guide: Lending Promotion: Personal Overdraft Line of Credit
We're kicking off a new campaign, "Low Balance Brewing?" to highlight a crucial service: our Personal Overdraft Line of Credit (ODLOC). This service provides essential protection for our members' accounts and gives them the peace of mind that comes with knowing they won't face unnecessary fees or inconvenience from accidental overdrafts.
Now, we're asking for your help to spread the word so even more members can benefit from this valuable offering.
Campaign Overview
This campaign will primarily leverage digital and internal strategies to educate and engage our members about the benefits of using a Personal Overdraft Line of Credit as a smarter, more cost-effective alternative to traditional overdraft fees.
Campaign Targets
Our primary audience for this promotion includes:
Existing Members: Especially those who occasionally overdraw their accounts or have expressed concern about overdraft fees.
Potential Members: Individuals looking for a secure and affordable checking account solution.
Promotion Strategies
The main goals of this promotion are to:
- Persuade members to learn more about the value of protecting their checking accounts.
- Encourage members to apply for an ODLOC as a primary overdraft protection tool.
- Promote the ODLOC as a way to save money on fees while getting reliable protection.
- Generate applications for new Personal Overdraft Lines of Credit.
Campaign Timeframe
The campaign will run from October 1st to October 30th, 2025.
Marketing Channels & Materials
We will be utilizing various channels and materials to reach our members:
- Teller Cards: Available at all branch locations.
- Statement Inserts: To be sent with September statements.
- Emails: A dedicated email campaign will be deployed.
- Flyers & Posters: In branches.
- Social Media: Posts on Facebook, X, and Instagram.
Key Promotion Details
What is a Personal Overdraft Line of Credit (ODLOC)?
What it is: The ODLOC is a pre-approved, revolving loan linked directly to a member's checking account. If a transaction pushes their balance below zero, the ODLOC automatically transfers funds (up to their credit limit) to cover the difference.
Why it's important (The "Safety Net"): It provides an automatic safety net against accidental overdrafts, ensuring important transactions (like bill payments) clear and preventing the high cost and inconvenience of non-sufficient funds (NSF) fees.
Key Benefits for Members
These are not just add-ons; they are smart financial decisions that offer peace of mind and cost savings.
- Cost-Effective: Members only pay interest on the exact amount they borrow (the loan balance). Unlike traditional overdraft services, there are no application, transfer, or annual fees.
- Financial Health: By having an available credit line and managing it responsibly (i.e., making on-time payments), the ODLOC can potentially help members improve their credit score and financial reputation.
- Convenience: The transfers are automatic and happen seamlessly in the background, offering true peace of mind.
Help Us Spread the Word
Your role is to inform members about this valuable service. When speaking with members about checking accounts, transactions, or fees, mention the OLOC and how it can help them save money and protect their accounts. Direct them to the teller cards, flyers, or our website.
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