How to Establish Yourself as the Best Credit Union

Posted by Gregg Alexander on May 1, 2017 8:00:00 AM

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More and more financial institutions are popping up every day. This crowded field makes it tough for your credit union to stand out as top tier. Potential customers know they have plenty of options, so how do you get your credit union to the top of the pile?

Customers are looking for a personal touch in their financial institutions. Use marketing strategies to express your company's unique culture. Show your members the personality behind your credit union. Use social media to show the human side of your institution in sound bites. Members will appreciate the personal touch and be more than satisfied with your service.

Choose a core value that defines your credit union and use it to show customers and potential members what makes your credit union different from the competition. What makes you stand out? How do your values differ from those of your competitors? Everything you post, all your marketing materials, should reflect this value. You don’t have to flat out state this value as long as it’s communicated somehow. A picture of a family, for example, says more than, “We care about families.”

Focus on two types of members—those who have been with you for a long time and aren’t going anywhere, and those who are new and still shopping around. If you focus on these two groups, you’ll catch everyone in between.

Size up the competition. What are they doing right and what could they do better? Figure out what they could do better and do it. If their social media presence is stiff, make yours more personable. If they aren’t helping the community, then you should. The best credit unions stand out from the pack by doing things better. 

Keep your message simple to stand out from the crowd. Twitter only allows 140 characters, and this minimalistic approach is the key to its success. Tweets are simple and concise—a great strategy for your marketing. You don’t need an infographic that shows statistics for your entire institution for the last five years. Represent your core value in simple and clear terms.

With a guiding value, communicated simply to the right audience, your financial institution will be well on the road to being one of the best credit unions in your area. Your team will be on the same page when it comes to your business, and this focus will translate to greatness in every area. Marketing is about a message, and the best credit unions keep that message simple. 

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Topics: Credit Union Marketing

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