11 Marketing Tips to Improve Modern Credit Union Growth

Posted by Alexa Audet on Apr 20, 2017 1:53:53 PM

improving credit union growth 

What happens to a credit union that doesn’t grow? This isn’t a riddle. The truth is, it stagnates and dies. Your credit union needs to keep up with changing times to stay relevant and be successful. Fortunately, there are some simple ways to ensure your credit union growth, both today and in the future.

11. Don’t talk at your customers

Marketing used to be simple; find your message, and communicate it to the customer. No longer, friend! Now it’s a two-way street now. Make sure you’re having a conversation, not just talking at people.

10. Be adaptable

Roughly 94 million people use the iPhone in the U.S. alone. That’s a lot of people! However, don’t forget about the roughly 250 million consumers who use something else or don’t use a smartphone at all. Make sure all your customers can interact with your institution, on any platform they choose.

9. A little personality goes a long way

Crack a joke, use a little sarcasm, poke some fun at yourself. Put some spark in your social media presence. Not only will customers appreciate it, but people will also notice a credit union that’s willing to lighten up now and then. It’s great for your credit union growth.

8. Educate, educate, educate

Use your outreach for education. Don’t lecture! Finance is a tricky thing, and people get nervous about something that they don’t understand. A little bit of education leads to trust, and trust is great for your credit union growth.

7. Don’t forget to write

Keep in touch with your customers, and respond to them. This goes hand in hand with making marketing, especially social media marketing, a conversation.

6. Keep your thumb on the pulse

I’m not as young as I used to be. Nobody is. But keeping up with constantly changing trends can pay dividends for your credit union growth. Incorporate and integrate the latest fads into your marketing plan, and do it quickly.

5. Treat your members like your children

By this I mean no one is more important than anyone else. You wouldn’t pick a favorite child, and you shouldn’t pick a favorite member. Everyone gets treated like they’re the best, and you’ll stimulate the credit union growth you’ve been looking for, organically.

4. You’re not a robot

So, don’t act like it. Just like your marketing outreach, your tellers and bank staff should be friendly.

3. Sharing is caring

Cross promotions help more than just your company. They associate your name with good causes and popular businesses. Free sponsorship anyone?

2. Be the good you want to see

Pick a cause and do some good with it. It could be tied to the financial sector, but to spur credit union growth, it could be anything. Fund promos about the topic, or sponsor community events.

1. Give it away

Freebies. Everyone loves them. You could even give away money or offer incentives that resonate with potential members. What really matters is that people will notice your credit union, and when people take notice that’s when real credit union growth happens.

Be bold and make yourself noticeable. Most importantly, make yourself a part of your community. The little things add up. Word of mouth is no less valuable today than it was a hundred years ago. Do some good, and the credit union growth will come.

If you like this blog, you might find these interesting as well:

Credit Union Brand Evaluation Checklist

Topics: Credit Union Marketing

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