Category Archives: Financial

Yes, I’m asking YOU. The marketer reading this article.

How about this? Just to be careful and think through the importance of keeping the credit union’s story out there – who you are, what your brand is all about, and the kind of relationships you continually strive to build internally, with members, and the communities we have involved ourselves in.

So now you’ve heard mine…what would your message be? For some it might be this one. “Marketing isn’t an expense…it’s as necessary as keeping the lights on…and when done the right way…that’s exactly what it will help you do.” Or, “Marketing is an important part of our management team…make me accountable, make me work for it and I’ll show you some results. My point is that if you want to be noticed – you are the only one that can make it happen.

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Why would anyone be confused as to what a credit union actually is – or what it does – when comparing it to a bank? I mean, it’s perfectly clear, right? Or maybe not so much.

How do we learn to differentiate ourselves without confusing the average, younger consumer who isn’t clear on what a credit union really is? Certainly being more public and clear with our basic message makes sense – telling people who we are and aren’t. Explaining to them that we aren’t part of that telephone company, university, or technology giant doesn’t alway work. Oh yes, you can join us. Using language like “we’re a community chartered not-for-profit cooperative financial institution” is a bit complicated. You know, like a bank, but not really like a bank. Wow. Do we ever stop and listen to ourselves? Is more marketing really the answer? Or is a more defined strategy and approach to who we want to be before we continue our marketing the real answer?

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What’s in a name? And why would I talk about the name when this article’s headline is about brand? Any strategic marketing agency who actually does this for a living will tell you that a credit union, despite the name (full of history and heritage, or new and often with a subtle link that pays homage to its legacy), is as much, if not more, about…yes…wait for it…the credit union’s “brand” than it’s name.

The name is significant for sure. But if you are telling me that members only go to credit unions because of the name on the building, and not because of the people inside – the great staff they have built relationships with, who have helped them in times of need (because that’s what credit unions do, right?), listened to their stories, and helped guide them sometimes more than just financially – well, you need to be in a different line of work.

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