BIRMINGHAM, Ala.-Alabama Telco CU here has seen significant increases in product sales and membership applications following the launch of a "Rate Your Rates Challenge."
The promotion offers to show potential members how they could save money at their local CU. Modeled after the old Pepsi Challenge, Rate Your Rates allows consumers to choose which rate is more appealing on a number of different financial products. After consumers select their preferred rate, the lower rate is revealed as being offered by Alabama Telco, while the higher rate is one offered by Regions Bank, one of the CU's largest competitors in the area. The credit union serves more than 51,000 members with $547 million in assets.