For a limited time, digital credit union Alliant is rewarding new members who open a checking and savings account with a $200 Avocado Toast & Iced Coffee Card. The Millennial-targeted prepaid card from Alliant Credit Union aims to help new members spend money at their local coffee shop or favorite brunch spot without undermining their savings efforts. Between February 15th and March 4th, the first 1,500 applicants are eligible to receive the special prepaid card.
Norm Buchanan, vice president, chief product and experience officer at Alliant, says "The reality of soaring student debt, rising housing costs and banks with absurd fees and low rates of return have a lot more to do with Millennials' saving challenges than their breakfast choices." The playful prepaid card depicts a special design that depicts animated toast, avocado and iced coffee figures.
Key Themes Behind This Trend
- Prepaid Card Promotion
- A trend where companies offer a unique and playful prepaid card to attract new members and customers.
- Millennial Banking
- A trend where financial institutions use creative ways to target Millennials for acquiring new customers.
- Lifestyle-based Banking
- A trend where financial institutions offer products that cater to customers' lifestyles and preferences.
Where This Applies
- Banking
- An industry that can benefit from offering innovative banking products and services that cater to the preferences of Millennials.
- Hospitality
- An industry that can collaborate with financial institutions to offer special promotions aimed at attracting customers to visit local coffee shops or brunch spots.
- Entertainment
- An industry that can offer prepaid cards with special designs to attract customers and promote brand loyalty.
