I recently received this solicitation from PenFed Credit Union, whose formal name (according to Wikipedia) is Pentagon Federal Credit Union -- a name that aligns with the company’s pentagon-shaped logo.
The solicitation letter is pretty typical for mid-tier credit card providers: window envelope with teaser; letter with Johnson Box; clear Call to Action; Schumer Box; buckslip insert reinforcing benefits and the call to action; and required credit prescreen opt-out notice.
"Congratulations! As an employee, retiree, or volunteer of the American Red Cross you are eligible for PenFed membership! How does PenFed define volunteer? A volunteer is anyone who provides time, talent, or treasure. Time is the hours volunteering for the organization, talent is the unique skills a volunteer brings to the organization, and treasure is both financial and blood donations."
- If soliciting members for your credit union's credit card, include language that suggests the person is not only eligible for the credit card, but also eligible to join the credit union.
- Membership eligibility for a credit union should be easy to find.
- Consider whether a pandemic is a good time to offer 0% balance transfers.