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CCUL Headlines: Headlines

Leading direct selling companies seek partnership with credit unions

Monday, August 26, 2013  
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Washington, D.C. (8/22/13) – The Direct Selling Association (DSA), the national trade association of the leading firms that manufacture and distribute goods and services sold directly to consumers, is seeking to partner with a credit union(s) to offer banking services to the 15.9 million independent contractors who are field representatives for DSA’s active member companies.

Accounting for $31.6 billion in U.S. retail sales in 2012, direct selling is an incredibly vibrant industry, through which men and women of all ages, ethnicities and educational backgrounds find economic and social empowerment through the operation of independent businesses. To date, the association represents more than 180 active member companies selling both via a party-plan method and in the traditional person-to-person style.

"From mom-preneurs and military families to college students and members of the post-retirement generation, the direct sales channel offers incredible opportunities for everyone and anyone looking to gain business ownership experience with little risk or up-front investment,” said DSA Chief Marketing Officer Amy Robinson. "In direct selling, there are virtually none of the barriers to entry that you might find in other sectors of the economy, which makes it accessible to a wide range of people from all walks of life, cultures and backgrounds. Even more, there is a direct selling company out there for everyone. From wellness products and renewable energy to cookware and sporting goods, direct sellers offer revolutionary products and services across every category imaginable.”

The association seeks to partner with a credit union(s) to offer services to its active member companies as a benefit of membership in the DSA. The active direct selling member company would become the Select Employee Group (SEG) and work with the credit union(s) to communicate the availability of credit union services to its direct sales field. As such, members of the direct selling field could then choose to join the credit union.

Among the many services credit unions could provide direct sellers, DSA member companies are most interested in partnering with a credit union(s) to offer banking services to their independent contractor field representatives at better rates than are available elsewhere. Such services include consumer credit cards, financial and tax education, mobile banking, small business loans, retirement planning for independent contractors, accounting software, payroll services and more.

For more information on how to establish a partnership with a direct selling DSA member company, please read DSA’s Request for Proposal and contact DSA Director of Finance & Operations, Jennifer Dunleavey, with any questions regarding the RFP. In addition, please contact DSA Chief Marketing Officer Amy Robinson for more information about the association.