Digital Fundraising Campaign FAQs
Research for campaign is ongoing so this will be updated regularly. 10-5-18
What is the Digital Fundraising Campaign? An opportunity for credit unions to fundraise for their local children’s hospital through digital platforms. The initial goal is to have a fundraising ask on home banking websites, so a member can be prompted to make a donation.
Why the move to digital fundraising? This is an effort to meet members where they are now banking. 2018 marked the first time in history that saw more members using mobile/home banking as opposed to going into the branch. Our Credit Union for Kids campaigns are currently all geared towards engaging members when they go into the branch and we want to offer more opportunities for members to be involved.
Have other credit unions implemented digital fundraising? Multiple credit unions across the country have implemented their own digital fundraising asks already. These are large credit unions with resources to build this program in-house. It has shown tremendous success in all aspects: turnkey and easy for credit unions to implement and track, convenient for members to support their community, and ultimately more funds raised.
What does the user experience look like? The Credit Union for Kids team is working on creating a variety of solutions for the user experience. It could be a banner on the side of the site which is a more passive fundraising ask. It could be a pop-up when a member logs in. It could be an ask once a member completes an action, like paying a bill. The goal is to allow the credit union to make that decision.
What will the fundraising ask be? The two best options would be a ‘sweep the change’ ask where a member would agree to donate the change that is left in their account at the end of the month. Or, it could be asking for a specific dollar amount (EX: $1, $3, or $5). There would also be the option to have a reoccurring, monthly donation.
How are the funds securely collected? The best available current option is to have credit unions collect the donation amounts from each donor based on donation files passed from a third party. This process will make sure that limited member information is shared and that all processes adhere to the strictest financial institution security standards.
What is the timeline? Credit Union for Kids team is working with a company called Giveworx to create the technology. Working with Giveworx, the CU4Kids team is soliciting feedback from hospitals, credit unions, vendors, and other stakeholders with the intent to make sure we are following all security and compliance regulations. The projected launch date is March 2019.
How can credit unions help now? Please submit your contact information below If you are interested in learning more about the campaign, if you would like to provide feedback, or would be willing to introduce us to your core processing vendors so we can work with them to get our technology inserted into their systems. We will roll-out a complete education plan so credit unions know how they can implement it, once it’s ready.