13 August 2008
A Maddening Idea
EA Sports' Madden '08 was released yesterday. At lunch, I drove over to Best Buy and picked up a copy. Besides the amazingly high $60.00 price, one thing struck me about this transaction. I now own every Madden Football release since 1994. And in nearly every case, I purchased these games the very same day they were released.
Now don't get me wrong, this is a great game! But that's some serious cash I've dropped on mindless entertainment.
How many other people out there do the exact same thing? I'd wager there are quite a few. This got me thinking. Can a credit union build community out of non-financial services? What about a video game library?
Young adults (anyone for that matter) could open a "Video Game Account" (not clever, I know...just came up with this idea) that would allow access to the credit union's video game library. To check out a game, members must have a balance equal to the market price of the game and must make a $5.00 deposit. If the game never gets returned, no sweat...the savings deposit serves as collateral. A la Netflix, keep the game as long as you want as long as you make monthly deposits into your account. The member enjoys a free video game library and is voluntarily becoming a good saver. The credit union attracts young members for a small investment and increases deposits.
Supplement this idea with monthly video game tournaments on location or online for ways to win bonus deposits to members' accounts.
This could work for books, video games, wedding/prom dresses, all sorts of things... There, I said it. Patented thought exhibitionism - what do you all think?