by Ron Daly
In the past few months, we’ve been working with credit unions across the country to drive up opt-ins for Reg E. We have quite a few clients reaching out via email and outbound calls, as well as on their website and in print. One trend that’s come up over and over is the question of approach. Should one be fearful or friendly when it comes to talking about Reg E.
Now, there’s something to be said for fear…it gets things done. Remember those Volkswagen ads where it showed people surviving a crash? Sure, they were upsetting, but I’m betting you paid attention.
It’s been done for years and years. If you don’t have Brinks, you won’t be ready for a burglar. Don’t have flood insurance? You’re going to get nothing for the damage to your house if it floods. Don’t have X, and you’ll suffer Y’s consequences.
Reg E isn’t “life or death”, but it does lend itself to the fears that people have with regards to their debit card. Fear about not having emergency funds, fear about being declined at the grocery store – they’re the everyday embarrassments and hassles that overdraft protection was designed, in part, to avoid.
NetBanker did a run-down of Truliant FCU’s current Reg E campaign, which they decided is more “fear based” than the campaign that came before it. Take a look and decide – is it trying to create fear or simply a sense of importance?
