Marketing, Creativity, Innovation, Humor Reign in 2007
Myriam DiGiovanni - Credit Union Times - December 19, 2007, Vol. 18, No. 51

HOBOKEN, NJ – Credit union marketers pulled out all the stops to share the message that membership has its privileges.

From turning to YouTube, MySpace and Facebook to podcasts, credit unions explored new ways to reach the elusive but important younger market. Whether through youth advisory committees or hiring youth outreach consultants, many credit unions stopped trying to guess what may work and included younger members in the process.

This year also found credit unions partnering and sponsoring more local events – even stepping in to save some events that bankers pulled out of in a display of social responsibility that made CUs stand out from the competition.

More credit unions made strides in furthering financial literacy by sponsoring free educational workshops and seminars. The Wisconsin Credit Union League partnered with brass|MEDIA to get a CU-sponsored Student Program incorporated in the curriculum and special brass student edition magazines into the hands of young locals. The league also launched its own MoneySmart Wisconsin Web site to promote essential money management life skills.

Looking ahead marketing experts say credit unions need to look inward and really define who they are and what they stand for in order to really distinguish themselves from the competition. Blogs continue to be another avenue for credit unions to measure the effectiveness, momentum, and engagement of initiatives or promotions in members' own words. Experts agree that innovation in building deeper member relationships is ultimately the key to marketing success. --mdigiovanni@cutimes.com