TIAA-CREF INTERNAL — FOR INTERNAL USE ONLY TIAA Direct ePoints Program New York City Innovation Intern Team August 2, 2012
TIAA-CREF INTERNAL — FOR INTERNAL USE ONLY
TIAA Direct ePoints ProgramNew York City Innovation Intern Team
August 2, 2012
TIAA-CREF INTERNAL — FOR INTERNAL USE ONLY 2
Agenda
► Approach & Market Dynamics
► Program Overview
► Customer Experience: “A Year in the Life”
► Business Case
► Implementation
► Conclusion
► Appendix
TIAA-CREF INTERNAL — FOR INTERNAL USE ONLY 3
We looked at a number of factors impacting today’s financial institutions and found enormous opportunities
TIAA Direct’s Unique
Mission & Position
Target Customer (Millennial) Attitudes
Banking & Technology
Trends
OPPORTUNITY FOR GROWTH
Bank frustrations
Charitable giving
Local impact
Not-for-profit
“Financial services for the greater good”
Mobile banking
Civic banking
Virtual currency
Gamification
Social media
Online financial management
(Mint.com, etc.)
Crowdfunding (Kickstarter,
Crowdrise, etc.)
TIAA-CREF INTERNAL — FOR INTERNAL USE ONLY 4
The data supporting TIAA Direct’s entry into innovative philanthropic partnerships is substantial
• 70% of Americans give to charity each year
• 60% of people who give have affinity to local charities
• Causes related to children and education are two of the top donor
recipient categories every year
• Americans give to elicit positive feelings and to feel connections to
causes
Giving back to the community is important and
influences consumer decisions
• 75% of Millennials give every year (more than the average)
• 43% of Millennials want to give “in the moment”
• Millennials are the segment most likely to be influenced to buy products
because they offer social benefits
• 32% of the Millennials want to see the tangible progress of organizations
Millennials are highly influenced by the needs of
their local communities
• 75% of Millennials share non-profit organized events via social media
• More than 70% of Global 2000 organizations will have at least one
gamified application by 2016
• The amount of money raised by crowdsourcing has increased 91% in the
past year
New technology, ranging from
mobile to social, is key to engaging
MillennialsSources: Mintel Oxygen, TIAA Direct NYC Innovation Intern Team survey; The Millennial Impact Report
TIAA-CREF INTERNAL — FOR INTERNAL USE ONLY 5
Agenda
► Approach & Market Dynamics
► Program Overview
► Customer Experience: “A Year in the Life”
► Business Case
► Implementation
► Conclusion
► Appendix
TIAA-CREF INTERNAL — FOR INTERNAL USE ONLY 6
TIAA Direct is uniquely positioned to truly embody the TIAA-CREF mission to “serve those who serve others”
TIAA Direct ePoints ProgramPartnerships
Build relationships with strategically-aligned non-profit organizations that will reflect TIAA-CREF’s mission and
cultivate the next generation of TIAA Direct customers through
new marketing channels
CommunityDevelop eCommunity
dashboard that facilitates engagement with TIAA Direct as
“more than just a bank”, enabling offline interactions,
transparency, and real recognition of customers’ value
to the bank
PointsSystematically reward all levels
of value-add customer engagement with the bank
Allow customers to earn and track ePoints and allocate to the
charitable project(s) of their choice – creating an emotional connection with the customers
Engagement. Education. Empowerment. Every day. TIAA Direct ePoints.
TIAA-CREF INTERNAL — FOR INTERNAL USE ONLY 7
Rewards can entice customers to open accounts, but none on the market take our unique approach to giving back
reward customers for spending on their debit cards.&
&reward customers for saving.
can do both, offeringcompetitive products whilefostering education and job creation.
TIAA-CREF INTERNAL — FOR INTERNAL USE ONLY 8
Reward
Recognize
Cultivate
TIAA Direct ePoints reinvent traditional banking rewards
A next-generation banking rewards program that allows customers to give back to
individual local community projects and causes is unprecedented
Celebrate and share in customers’ community impacts
Enable customers to earn and track points to be donated to non-profit partners
Build out a system to reward all levels of customer interaction with the bank, placing value and emphasis on positive customer engagement
Points Partners Community
TIAA-CREF INTERNAL — FOR INTERNAL USE ONLY 9
Reward customer engagement & build“virtual equity”
Reward all levels of value-add customer engagement Build “virtual equity” that can be tracked via a user’s online account
Customers can earn ePoints through…
Deposits Loans Banking Activities
Referrals & Events Promotions
ePoints are determined based on an action’s relative profitability to the bank and/or perceived added customer relationship value*
Points Partners Community
*Projected actual ePoint values provided in Appendix
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How do customers earn ePoints?
Customers can earn ePoints through…
Deposits
Opening accounts (high-yield savings, interest checking, money market, CD)
Maintaining average monthly balance of certain predetermined levels
Rationale
Reward customers for initiating a relationship with the bank
Reward customers for depositing and saving money – as opposed to other rewards programs that primarily reward customers for spending
Save for yourself while doing good for your local community
Points Partners Community
Deposits
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How do customers earn ePoints?
Customers can earn ePoints through…
LoansTaking out a mortgage
Taking out a Home Equity Line of Credit (HELOC)
RationaleReward customers for engaging in high-revenue/high-margin bank product offerings
TIAA Direct is already willing to pay hundreds of dollars if it does not match a competitor’s rate – why not contribute to a social cause when customers choose TIAA Direct?
Build a life with a new home or investment, while helping others do the same
Points Partners Community
Loans
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How do customers earn ePoints?
Customers can earn ePoints through…Banking Activities
Engage in traction-building activities (direct deposit, BillPay)
Engage in cost-cutting and revenue-generating activities (remote deposit)
RationaleReward customers for engaging and enrolling in programs that build traction / stickiness across their accounts, while also generating revenue for TIAA Direct
Stay engaged and simplify your finances
Points Partners Community
Banking Activities
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How do customers earn ePoints?
Customers can earn ePoints through…Referrals & Events
Invite friends and family to open TIAA Direct accounts via word-of-mouth and social media
Register for and attend co-branded events with core non-profit partners via TIAA Direct Community Page
RationaleReward customers for helping build the brand and generate additional TIAA Direct deposits and revenue
Reward customers for participation in brand-building offline events
Share the experience with friends & family
Points Partners Community
Referrals & Events
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How do customers earn ePoints?
Customers can earn ePoints through…Promotions
Initiate daily/weekly multiplier deals (e.g. 2X points in June for opening a savings account), account anniversary bonuses for loyalty (e.g. 1.25X on all points after 5 years with the bank), etc.
RationaleImplement gamification to build excitement, engagement, and consistent awareness .
Stick around, have fun, and earn more!
Points Partners Community
Promotions
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How do customers use ePoints?
Customer earns points
through banking actions
Customer allocates points to individual
local project(s)
TIAA Direct converts
points to $ and sends to partner non-
profit with specific local
project allocation
TIAA Direct adds points
to non-profit’s total “vote tally” for end-of-year grant
competition
Customers can also gift earned points to other
TIAA Direct customers at no
cost Non-profit with the most ePoints will win a lump grant on top of
individual contributions
ePoint allocation for each non-profit throughout the year is
totaled
Customers are reminded to allocate all earned ePoints, and
TIAA Direct tallies votes
Continuous – “Giving in the Moment” Year-End Award
Points Partners Community
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The program will be built with non-profitsaligned with TIAA-CREF’s mission & values
Mission
Education, K-12 Teachers, Millennials, Crowdfunding, Parents
800K participants/ donors, 54K schools supported, $120M
raised, 6.5M students helped
Served 450K students, trained 5K
teachers, 50 countries, Clinton Global Initiative
$305M invested, 26,500 clients served, 4,250 active clients, 1,300+ jobs created
“An online charity connecting you to
classrooms in need.”
“Inspiring students to stay in school, seize
business opportunities, and plan for success.”
“Investing in individuals. Improving
our world.”
Points Partners Community
TIAA-CREF INTERNAL — FOR INTERNAL USE ONLY 17
The ePoints program creates a newmarketing channel for TIAA Direct
TIAA Direct ePoints program opens up a brand-new, tightly-targeted, and self-perpetuating 360° marketing channel
TIAA Direct builds mutually-
beneficial partnerships and
commits to community-based giving
Non-profits market TIAA Direct’s program
directly to volunteers, donors, and
constituents via social media, mailings, email, and their
websites in order to raise funds
Volunteers, donors, and constituents build brand
affinity/recognition, open accounts, and tell their friends via social
media
Points Partners Community
TIAA-CREF INTERNAL — FOR INTERNAL USE ONLY 18
Marketing reach to non-participants is currently limited to traditional channels
Traditional Media
Online Marketing / Social Media
Points Partners Community
TIAA-CREF INTERNAL — FOR INTERNAL USE ONLY 19
The ePoints program brings marketing “closer to home” through a variety of media
Traditional Media
Online Marketing / Social Media
Community Events
Affiliate Marketing / Direct Email
Points Partners Community
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Partner Case Study: DonorsChoose.org
Ms. Smith is a middle school theater teacher in Berwyn, IL, who funded her classroom through DonorsChoose.org
Opportunity to foster community through
education and giving
2007
Many students involved with Latin Kings gang
No stage, costumes, or props
No financial support for the theater program
Maximum $250 personal tax deduction for contributions to her classroom
2012
Theater is the school’s most popular program, with 90 students
Students want to stay after school to participate
Alumni participate in end-of-year show to be part of the community again
$10K+ raised through 300+ projects, with an average of 9 donors each
Points Partners Community
TIAA-CREF INTERNAL — FOR INTERNAL USE ONLY 21
eCommunity online & mobile dashboardis an online home for “all things ePoints”
PointsTrack earned ePoints
balance and contributions via web
or mobileLearn about new ePoint-earning opportunities
Allocate ePoints to local projects or give them to fellow TIAA
Direct customers
EventsLearn about and
register for upcoming co-branded /
sponsored TIAA Direct non-profit partner events
Engage with the bank offline to build a
sense of community and vested interest
Earn ePoints!Blog & Discussion
BoardRead personal entries written by TIAA Direct employees and our
partnersDiscuss financial
topics and community events with fellow
customers
Acknowledgement
Track funds raised for various highlighted
projectsSee how points are
being put to useReceive personalized messages from those
impacted by donations
Points Partners Community
The TIAA Direct eCommunity can facilitate
positive community
impact at no additional customer expense
TIAA-CREF INTERNAL — FOR INTERNAL USE ONLY 22
Agenda
► Approach & Market Dynamics
► Program Overview
► Customer Experience: “A Year in the Life”
► Business Case
► Implementation
► Conclusion
► Appendix
TIAA-CREF INTERNAL — FOR INTERNAL USE ONLY 23
ePoints will serve as a unique marketing “hook” for attracting new banking customers
ENGAGE. EDUCATE. EMPOWER.Through these ePoints non-profit partnerships!
Bank without compromiseOpen an account with great rates, no monthly fees, and convenient ways to manage your money.
HIGH-YIELD SAVINGS
1.25% APY*
TIAA Direct offers a market-leading
APY, is a trusted and established institution, and I
can help the community by
earning ePoints?
TIAA-CREF INTERNAL — FOR INTERNAL USE ONLY 24
Sign off
Accounts Pay Bills Transfers ePoints eCommunity Enter Keyword(s)
Use Mobile/ Online Bankin
g
Earn Points!
Select a
CAUSEDonate Points!
Use Mobile/ Online
Banking
Earn Points!
Select a CAUSE
Donate Points!
How do these TIAA
Direct ePoints work?
Customers will be able to utilize the TIAA Direct website and eCommunity to learn about how the ePoints program works
TIAA-CREF INTERNAL — FOR INTERNAL USE ONLY 25
Open a prepaid card and high-yield savings account.
Earn 850 ePoints!
Link phone bill to BillPay Link cable bill to BillPay
Earn 200 ePoints!
Maintain $50K average daily balance in savings
account.Earn 150 ePoints!
Customers will be able to earn points through both online & mobile engagement
TIAA-CREF INTERNAL — FOR INTERNAL USE ONLY 26
Bank Benefit
Interchange Fees
Stickiness
Retail shopping.Groceries.
Restaurants.Gas.
Vacations.
Every time I use my TIAA Direct prepaid card, I earn ePoints!
Customers will earn points on every prepaid card purchase
TIAA-CREF INTERNAL — FOR INTERNAL USE ONLY 27
John registers for a co-
branded non-profit golf
tournament and shares it on Facebook!Earns 100
points!
Bank Benefit
Marketing
Awareness
Offline Engagement
The eCommunity will drive online-to-offline engagement with the overall TIAA Direct banking experience
>
>
>
>
>
GIVE!BlogEvents
Charity Golf Tournament• August 15,2012
Fundraising Baking Competition• August 31,2012
Entrepreneurship Development Workshop• October
3 ,2012
Upcoming Registered
The 40 Block Walk •May 19,2012
Charity Gala, Bronx•June 27 ,2012
Share Event on :
Home Page
Sign off
Accounts Pay Bills Transfers ePoints Enter Keyword(s)eCommunity
SearchBy Category
By Location
By Organization
By Name
Earn 100 points for every event you attend!
Partnered with :
TIAA-CREF INTERNAL — FOR INTERNAL USE ONLY 28
Sign off
Accounts Pay Bills Transfers ePoints Enter Keyword(s)
GIVE
eCommunity
Share us on :
Home Page GIVE!Events Message Board
Learn more!
Learn more!
Learn more!
Engagement with eCommunity
The eCommunity will allow customers to learn about TIAA Direct’s charitable partners
Over the course of the
year, John has collected 2100 ePoints – and now he
wants to donate them.
BankBenefit
TIAA-CREF INTERNAL — FOR INTERNAL USE ONLY 29
Welcome, John!You have 2,100 ePoints. How would you like to donate them?EVERY ePoint can make a difference.
Customize your search:
Enter Zip Code 12508
Sign off
Great news! There are 5 projects in your area.
St. Mary’s School Fishkill needs $8,500 for their new gymnasiumDonate Points!
St. Columba School needs $4,500 more for their new arts program Donate Points!
Click here for more
Enter Category School
The eCommunity portal will allow customers to donate points to very specific and local projects with immediate needs
TIAA-CREF INTERNAL — FOR INTERNAL USE ONLY 30
Sign off
Accounts Pay Bills Transfers ePoints
Home Page
Enter Keyword(s)eCommunity
GIVE!Events Message Board
Our Partners: $ 2,910,004.76 Donated to Date
what we do?The Network for Teaching Entrepreneurship inspires young people from low-income communities to find their paths to success.
I made a difference!
Customers can observe the tangible progress of local community projects through the eCommunity portal
TIAA-CREF INTERNAL — FOR INTERNAL USE ONLY 31
Agenda
► Approach & Market Dynamics
► Program Overview
► Customer Experience: “A Year in the Life”
► Business Case
► Implementation
► Conclusion
► Appendix
TIAA-CREF INTERNAL — FOR INTERNAL USE ONLY 32
Targeting the ePoints core customer base will enable TIAA Direct to double projected customer accounts in 2013
Core Customers• TIAA-CREF Participants: Adults
aged 18 – 34 • Students: Adults aged 18 – 34• Non-Participants: Adults aged 25
– 34 in the K-12 industry, higher education, or healthcare
Core Customers (23.0M)
Have an Online-Only Bank Account (8.5M)
Donate to Charity (5.7M)
Would Switch Banks for Better
Value (3.0M)
Incremental Customer Opportunity = 120,000 individuals (184,400 accounts) in Year One
Marketing Reach
TIAA-CREF INTERNAL — FOR INTERNAL USE ONLY 33
ePoints is a high-ROI marketing and community-building opportunity for TIAA Direct
3-year NPV Annual Profit*$0.0
$10.0
$20.0
$30.0
$40.0
$50.0
$60.0
$70.0
$80.0
$61.2
$4.8
$20.7
$48.4
2013 2014 2015
• Primary profit drivers are mortgages and savings
• Projected 2013 Incremental Revenue = $72.3M
• Projected 2013 Incremental Accounts = 184.4K
• Recommended 2013 Donation = $4.5M
• $500K year-end grant
• Average donation per customer = $27.40
• ePoint donation value = $0.01
• Fixed costs (development and human resources) = $2M * No discount rate applied
Incremental Profit ($M)
TIAA-CREF INTERNAL — FOR INTERNAL USE ONLY 34
The TIAA Direct ePoints program will incrementally accelerate both projected account openings and profits in 2013
Expected Incremental Accounts Cash Flows Year 1 Year 2 Year 3 Year 1 Year 2 Year 3Checking 41,403 223,068 325,318 ($3,951,088) ($20,450,614) ($26,536,869)Savings/MMA 76,788 413,713 603,351 $3,532,248 $20,582,677 $36,115,328 CD 5,885 31,707 46,241 $270,710 $1,577,448 $2,767,864 Debit Cards 22,358 120,457 175,672 ($399,251) ($1,700,260) ($708,297)Mortgage 7,323 17,664 28,121 $11,750,925 $32,708,413 $55,644,388 Home Equity Loan 3,930 15,754 29,941 $1,267,268 $7,383,544 $18,904,262 Prepaid 25,813 82,076 154,694 $645,313 $3,067,632 $7,097,067 Personal Loan 898 1,876 3,101 $80,820 $389,740 $740,571 Variable Profit $15,196,944 $43,558,579 $94,024,314 Fixed Costs ($2,000,000) ($1,500,000) ($1,500,000)Grant Donations ($4,500,000) ($4,500,000) ($4,500,000)Net income before taxes $8,696,944 $37,558,579 $88,024,314 Taxes (45%) ($3,913,625) ($16,901,361) ($39,610,941)Net income after taxes $4,783,319 $20,657,219 $48,413,373 Discounted Cash Flow (r = 12%) $4,783,319 $18,321,309 $38,083,308 Total Accounts 184,397 906,314 1,366,439
Profits per Account Type
• Incremental to projected accounts and profits in current five-year growth plan• Profit per account factors in both new and existing customer cash flows• Account growth rate matches five-year growth plan• Attrition rate applied = 21% (industry rate), which is higher than TIAA Direct• Net income allows for donation amount to grow as program profitability grows
TIAA-CREF INTERNAL — FOR INTERNAL USE ONLY 35
Agenda
► Approach & Market Dynamics
► Program Overview
► Customer Experience: “A Year in the Life”
► Business Case
► Implementation
► Conclusion
► Appendix
TIAA-CREF INTERNAL — FOR INTERNAL USE ONLY 36
The bank faces low barriers to entry, and can leverage its strengths to temper risk and discourage market replication
Strengths• Strong brand name in
education and healthcare industries
• Substantial capital backing• Established relationships with
educators and administrators• Current online user
experience easily expandable to create ePoints platform with nonprofit partner APIs
• High savings APY and diversified products
Weaknesses• Limited brand
recognition beyond current base of TIAA-CREF participants
• Millennials comprise <20% of current TIAA-CREF participants
• Limited experience creating and maintaining an online experience for a user community
• No history to determine the right amount to give to be profitable and also relevant to customersOpportunities
• Leverage brand credibility within core industries as a differentiator from other charitable programs
• Leverage existing participant relationships to create a community of giving
• Encourage behaviors that customers would already be inclined to do instead of asking them to spend
• Leverage expressed interest of key nonprofit partners to offer a unique customer experience
Threats• ePoints can be
replicated in other rewards offerings
• Competitors historically have donated broadly to cover a wide customer base
• Other options / communities for charitable giving exist and come to mind before a bank does
Inte
rnal
Exte
rnal
Mitigating Factor: It is costly for competitors to reconfigure any currently existing programs. Any changes also risk upsetting customers using existing rewards.
Recommendation: Invest in more marketing in the long run.
Mitigating Factor: They may cover a wider range of interests but with fewer opportunities for people to get engaged at a deeper personal level.
Recommendation: Keep an open dialogue with engaged customer and nonprofit partners to match their needs with our goals.
Mitigating Factor: TIAA Direct aligns with the brand and mission of TIAA-CREF, which has a strong reputation for doing social good. Our deep relationships with nonprofit partners will help to reinforce this message to a broader audience.
TIAA-CREF INTERNAL — FOR INTERNAL USE ONLY 37
TIAA Direct must allocate resources to a specific set of next steps in order to ensure a successful ePoints program build
Trans
parenc
y
Technology
Key Next Steps
Develop front-end user experience (web & mobile) for assigning, tallying, and allocating
points (gamification techniques)
Develop / acquire database solution for tracking and converting total
points
Build API integrations with partners (DonorsChoose model) for accurately
distributing points and monetary donations
Hire incremental FTEs for partnership / program management and back-office administration (customer service, finance, operations, etc.)
Key Considerations
Implement phased deployment (pilot to determine key drivers of customer engagement)
Focus on transparency at all levels of communication with customers and partners
Fully disclose operational costs when donating to non-profits
Leverage not-for-profit status
Maintain focus on superior customer service – a major pain point for many banking customers
and a value-add differentiator
TIAA-CREF INTERNAL — FOR INTERNAL USE ONLY 38
The future holds exciting additional opportunities for ePoints program expansion and increased market leverage
Technology•Tie card products to foursquare and edRover to leverage check-in and geo-location technologies•Giving portal (leverage Network for Good technology platform)
Products & Services•Charitable donation matching program (i.e. Advanta Kiva credit card model) •Explore various revenue stream models related to ATM charges at 40,000+ “free” ATM locations•Build out additional prepaid card functionalities
ePoints Program•Partner with a travel company (i.e. Southwest Airlines) to further incentivize customers in the points-earning process•Provide option for customers to buy points through community portal•Integrate small business loans, personal loans, automatic loan payment plans, P2P, and e-statements in points model
TIAA-CREF INTERNAL — FOR INTERNAL USE ONLY 39
Agenda
► Approach & Market Dynamics
► Program Overview
► Customer Experience: “A Year in the Life”
► Business Case
► Implementation
► Conclusion
► Appendix
TIAA-CREF INTERNAL — FOR INTERNAL USE ONLY 40
The TIAA Direct ePoints program is a rare triple bottom-line “win-win-win” for the bank, customers, and local communities
TIAA Direct
Double expected first year accounts – increase revenue and
profits
Encourage behaviors that reduce costs
Support brand and mission
Community Reinvestment Act benefits
Generate data to identify valuable customers
Customers
A “good bank”: Broad range of competitive financial products*
Doing “right”: Giving back to local communities seamlessly*
Voice within a trusted financial institution (virtual equity)*
Creating “wow”: Fun and functional everyday banking
experience*
Addresses major pain points*
Community
Support education and job creation
Leverage talents of interested Millennials
Increase engagement and funds to support projects
Support of a trusted financial institution
*Source: Booz & Company TIAA Direct Strategic Plan, 6/20/12
TIAA-CREF INTERNAL — FOR INTERNAL USE ONLY 41
TIAA Direct has a unique opportunity to build a customer experience that is truly unique in the financial services market
TIAA-CREF INTERNAL — FOR INTERNAL USE ONLY 42
High-impact non-profit partners are already buying in
Charles Best, Founder & CEO, DonorsChoose.org (one of Fast
Company’s Most Innovative
Companies in the World) “Nearly all corporate
loyalty/rewards programs invite customers to support institutions or
macro causes. However, few companies have tapped into the power of micro-giving, allowing ‘citizen philanthropists’ to support projects that personally speak to
them, see exactly where their money is going, and hear back from the people they’re helping. Your proposal for TIAA Direct
represents the next generation of cause marketing.”
Erica Dorn, Director of Community Development, ACCION
“ACCION USA is very supportive of any program that increases the bankability of our entrepreneur
clients and supports the mission of providing microloans to small
business owners in the United States. We look forward to forging a relationship with TIAA Direct
through the innovative offering that your team has built.”
TIAA-CREF INTERNAL — FOR INTERNAL USE ONLY 43
thank you!
Questions?
TIAA-CREF INTERNAL — FOR INTERNAL USE ONLY 44
Agenda
► Approach & Market Dynamics
► Program Overview
► Customer Experience: “A Year in the Life”
► Business Case
► Implementation
► Conclusion
► Appendix
TIAA-CREF INTERNAL — FOR INTERNAL USE ONLY 45
Projected/recommended ePoints structure based on product-based profitability analyses
Deposits Sign UpsAverage Daily Balance pm
$10K-$49999.9
$50K - $199,999.99 $200K+
Interest Checking 250 50 150 300
Money Market 750 50 150 300
High Yield Savings 750 50 150 300
CD 500 50 150 300
Loans $0 - $499,999.99 $500K - $999,999.99 $1M +
Mortgage 1750 3500 7000
HELOC 750 1500 3000
Referrals Bonus ePoints
Interest Checking 25
Money Market 50
High Yield Savings 50
CD 50
Mortgage 100
HELOC 50
Activity Bonuses Bonus ePoints
Enroll in Direct Deposit 100
Enroll in Bill Pay/eBills 100
Complete Remote Deposit 5
P2P Transfers 5
Register for/Attend Event through Community Page 100
Promotion Opportunities
Daily/Weekly Multiplier Deals (e.g. 2X ePoints for opening a savings
account in June 2013)
Account Anniversary Bonus (e.g. 1.25X on all ePoints after 5 years)
Rolling bonus ePoints based total credit spend ($1 = 1 point)
Rolling bonus ePoints based on total prepaid spend ($1 = 0.5 points)
Donate to charity through eCommunity at no cost
Deposits Open account
Average Daily Balance Bonus (Monthly)
$10K-$49999.9
$50K - $199,999.99 $200K+
Interest Checking 250 50 150 300
Money Market 750 50 150 300
High Yield Savings 750 50 150 300
CD 500 50 150 300
1 point = $0.01
TIAA-CREF INTERNAL — FOR INTERNAL USE ONLY 46
Sample FAQs
Why wouldn't someone just donate to a non-profit directly instead?• Customer can facilitate giving to charitable organizations at no cost to themselves, while
continuing his or her normal personal giving routine.
• TIAA Direct community of donors to help generate enthusiasm, tangible progress, gamification.
• Social media interaction with actual educators, healthcare practitioners who are current TIAA-CREF clients.
Why microfinance?• Microfinance (in our case ACCION USA) provides a unique opportunity to give back to local
community in ways that a traditional charity do not.
• Appeals to constituents from underserved communities, both domestic and international.
• Microfinance relationships can help bridge the gap between unbanked and newly-banked entrepreneurs and the underserved international market.
What if a customer does not allocate his/her ePoints? • The earned ePoints will be automatically evenly distributed amongst the partner organizations on
an institutional level at the end of the year.