How Your Internal Culture Drives Credit Union Growth

Posted by Lena Haines on Feb 22, 2017 9:11:00 AM
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Each brand has a culture that drives its identity. We associate different feeling with the brands we interact with and that can be a marketable tool. Do you think your credit union has a unique culture that your members keep coming back for? Can you think of your competitors culture and how it differs? This post will help you understand how your internal culture can be a very valuable quality for your credit union growth.

Keep Members Coming Back

The most important value of an internal culture is how it resonates with the members you serve. A clearly defined internal culture will set the tone for all employee to interact with member. And lets face it, you're really only as good as your front line staff. The more positively empowered your staff is by the organization and clear on the goals they are trying to accomplish, the more likely they are going to create the positive experiences that keep members coming back. Your front line staff is the best marketing tool in your arsenal. Whether they are cross selling your products well or reinforcing that good feeling members get from your brand, these are the people that will carry through the promises of your internal culture. With the amount of competition there is in the financial services industry it's an important to offer that particular brand of service that sets you apart from your competitors. 

"You can’t be special, distinctive, and compelling in the marketplace unless you create something special, distinctive, and compelling in the workplace.

- Harvard Business Review "Brand is Culture, Culture is Brand" by Bill Taylor

 

Increase Productivity

I'm sure you're wondering how internal culture can possibly drive productivity, but it can! According to the article How One Brand Uses Corporate Culture To Maximize Productivity - Forbes.com, when team members understand their core purpose and contribution, internal culture increase productivity by creating: 

  • Fluid and unified communication
  • Efficient decision making
  • The ability to quickly identify and solve problems
  • Ability to iterate and adapt at a faster rate
  • Break through corporate and political barriers
  • Clear accountability
  • Ownership (team members will jump in to help)
  • Cooperative instead of combative teams
  • Reduced team conflict
  • Empowerment
  • Authenticity
  • Agility

Those are some amazing benefits, all originating from a defined culture. Let's face it the more productive your staff is your team has a better chance at offering that complete member satisfaction we all strive for. 

Hire the right people

A strong set of values should attract the right kind of talented people to your organization. In turn, you'll know immediately who isn't a good fit. Having a defined sense of culture creates a clear set of expectations employees. And If your leaders are living those values, your employees will have expectations to live up to and a clear path for growth. In the long-term view the cultural values you've worked had to establish, with amazing values and a unique point of view, will help retain those employees you spent time and resources on hiring.  According to the article "4 Surprising Ways That Culture Drives Growth" on Inc.com "If you don't use values to attract and reward talent, you are likely to produce an organization that will not outgrow your industry".

Create Unity

Depending on the size of your organization, chances are you have a couple different locations with different groups of staff. Each location or branch, can have different challenges they face everyday. If every employee is clear on the values to base decisions on or the expectations they need to meet, the more unified message you are sending to other employees and members. This creates accountability in each location and across the organization as a whole. With a clear set of values you can promise a consistent level of service for members no matter where they go. 

 

Great marketing is really about building relationships. Whether its building a relationships with members or employees, these people can be the greatest advocates for your brand. Is  your culture creating brand advocates? Are you a little lost on your Credit Union cultural values? I suggest downloading and doing a quick evaluation of your brand by clicking the link below. 

Credit Union Brand Evaluation Checklist 

Topics: Credit Union Marketing

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