Your Marketing Co. - Great Ideas

Great Idea: Tell Your Story

I was beyond elated to read this headline in the CU Journal this past week: "Main CU's Hit Airwaves for Summer Awareness Program". Unfortunately, Maine is one of the few League's who seem to take an interest in fulfilling their obligation to it's credit unions in promoting the credit union "difference". After taking a look at their website, it seems like this radio campaign is just one piece of their marketing campaign. Their grass roots involvement throughout the state and consistant message is one of the most impressive statewide campaigns I have seen to date. Congrats to John Murphy, the League president and his staff and board for taking a proactive approach in educating their community about the great services their credit unions offer. When you have a minute, check out their website to see what they have going on this summer.

Editorial: Shake It Up

Monday 6.28.10

If we in the credit union world spent half as much time doing as we did talking, we would be well on our way to breaking the 6% market share that we hold (and have held for decades). Over the last few months I have attended several conferences and seminars all with great ideas and great presenters, but with many blank stares from the attendees. Many sheepishly nod their heads in agreement on the need to shake things up and do things differently. The problem lies in the answer to each idea presented: “We can’t do that – this is the way we’ve always done it.”

I wasn’t able to attend the recent CUES conference in Orlando, but it is my understanding that without mincing words Bucky Sebastian did a fine job in making the call for change in our industry. Unfortunately, it is also my understanding that he received the same sheepish nodding of heads with each word spoken. Over the next few weeks, I hope to feature some “Great Ideas” that will help your credit union move forward. I also hope to feature some “5 Questions With” interviews with some folks who aren’t just talking about change, but actively pursuing new ways to do things either at their credit union or in the industry as a whole.

Before we dive in over the next few weeks, here are some tips to help you keep an open mind when discussing new ideas:

1. Listen before speaking. Don’t cut off the person talking to you. Make sure you understand their point of view by taking in all of the facts as well as feelings being presented

2. Choose your words. It’s easy to spout off things like “That will never work” or “It’s not in the budget.” Be open to the ideas being presented and creative ways to implement those new ideas.

3. Compromise. The idea being presented may very well be a great idea, but “too big” to act on. Don’t be afraid to suggest several options in implementing new ideas.

Great Idea: Tapping Into the World of Printing

Wed 6.16.10

Our graphic designer Ashley Ruff is our guest blogger today. If you handle your design and printing in house, Ashley presents a few tips today to ensure a good relationship with your printer.

Tapping into the World of Printing

Ever heard the phrase, “Communication is the key to a successful relationship?” This stands true as well in the marketing industry. Healthy communication between you and your printer will not only save you time, but money as well!

Establishing this relationship when one first decides on a new printer is the easiest way to make this happen. When searching for new printers, or even during your relationship, make sure you're in check with your representative often. Establish standards and guidelines that each of you should follow so that the process moves as smoothly as possible. Make sure communication is clear and often.

Suggested Guidelines

Generally speaking, a few things to keep in mind when talking with your printer are:

·spec requirements (always get this upfront)

·color and proofing requirements

·turnaround time

·press time and delivery

Printer Advice

Believe it or not... this is your homework. Do your research to understand how printing processes work. Talk to several printers. Look into the advantages of offset printing. Research when its best to look into digital printing, and when it might be best to spend that extra cash on a slightly better stock paper. Gain knowledge about the printing process so your product turns out like you want it to. Quality always shines through and gains your clients' respect.

Always Plan Ahead

Planning ahead with printers is crucial. Even though it seems strange to work on your holiday promotions in mid-July, its logical in the printing world. Printers have an established schedule for large and small clients and its easier to work your projects in if you plan ahead. Always allow extra time for large and complex projects to save yourself a headache later.

Always be open and honest about the quality of your printwork. A client may seem satisfied but you can always strive to provide them with a better product. Examine your final products carefully, and always remember to communicate clearly.

Great Idea: Own Your Mistakes

Wednesday 6.9.10

Everything is bigger in the professional sports arena: the players, the salaries…the mistakes. If, at your job, you forget to send an email to the wrong person or forget to fax an order form, you can usually make amends. What’s more, you can make those amends quickly and without much fuss.

But an umpire in a recent major league baseball game made a call that cost a player “The Perfect Game.” Kind of seems a little overdramatic when you consider the record this player probably already has, and the salary he probably has, too. The umpire could easily have shrugged his shoulders, told the media that he called it as he saw it, and left it at that. It surely would have been forgotten by next season.

But what impressed me was how the umpire involved, Jim Joyce, accepted responsibility and apologized for his mistake. He had the courage to go behind home plate the next night to shake hands with the pitcher, who undeniably had a right to be angry.

We all make mistakes. How many people have the courage to accept responsibility and face the music? Not very many. The real question is, however, whether or not you face the music when you’re the one that messes up. Do you accept responsibility, apologize sincerely, and offer to fix the situation? Your members know you’re human and that you’re not perfect. But they deserve to have a credit union that doesn’t shy away from embarrassing gaffes, and that instead faces problems head-on.

If that sounds like too much, remember that in business you can fix mistakes by offering alternatives. In baseball, Jim Joyce did not have that option. But he faced the music. He owned his decision and his mistake. Does the team at your credit union “own” mistakes and quickly fix them?

He can be on my team any day, even with this mistake.

5 Questions With: Sarah Cooke

6.3.10

I've been intrigued by the recent strong of blogposts by CU Times editor Sarah Cooke. It's provoked some great dialouge with the management and boards of my credit unions as to our futures. I present to you a very special "5 Questions With" this week, going a bit more in depth and getting some more personal thoughts from Sarah on the future of our indsutry.

1. You’ve posted some very thought provoking blog posts lately that have stirred a lot of emotion and discussion as to the future of the credit union industry. What is your prediction as to where our industry is heading in the long term?

For a variety of factors, including competitive and regulatory ones, over the long term I believe consolidation will continue to the point where there are fewer but stronger credit unions. In five years, we’ll likely be under 5,000 credit unions. Scalability will be one reason, but size is not the only important element. The ability to face the new realities, be nimble and have a forward-looking vision followed up by action are also crucial to survival. Of course, credit unions that operate in this manner should grow by default. Credit union products, services and marketing will necessarily continue to evolve toward greater sophistication. Regulatory burden will continue to increase and member demands for online and mobile capabilities will grow. At the same time, hackers are continuing to develop their talents so security must be top-notch–there can be no excuses for falling behind in this area because members will not tolerate it.

2. There’s a lot of talk about collaboration being the key to credit union survival, especially in the small and mid size credit unions. What is one example of collaboration you have seen between credit unions that others can learn from?

In addition to the hundreds of CUSOs available to credit unions, opportunities for collaboration abound in the credit union community. I attended a professional development workshop at the Maryland and DC Credit Union Association on Wednesday, and the CEO of a $12 million credit union sitting across from me said she has no trouble when she needs assistance with a new policy or procedure. She just calls up another credit union and they hand over theirs for her to use as a starting point. It’s great to know that credit unions really do still continue to function in this manner. Hopefully that doesn’t slip away as competitive pressures build because even for-profit firms are realizing the value of collaboration.

3. What can the industry expect with the appointment of Bill Cheney to succeed Dan Mica as the head of CUNA?

Bill’s a smart man and I think the trade group is in good hands. There’s no denying his knowledge of the credit union industry. He’s run the largest state league in the country. There have been some rumblings about the financial status of the league, but what else would you expect from a league serving not one but two sand states? He also has had a taste of Washington and politics as both a league president and a former NAFCU Board member. I think his resume fits what credit unions need right now: More emphasis on industry knowledge than Washington. Dan Mica did a great job elevating credit unions’ status on Capitol Hill, and that’s what they needed at the time, but times have changed dramatically.

4. With your position at CU Times, you get to talk to many people within the industry. Name one “up and coming” person in the credit union industry who we will likely be seeing and hearing more of in the future?

There are hundreds of talented people in the credit union industry. I wouldn’t want to even start a list here for fear of leaving anyone out. I will say that I hope that 1) younger staffers are given every opportunity to contribute to the credit union/league/vendors’ mission, and 2) younger staffers take advantage of every opportunity to contribute in a meaningful way.

5. BONUS QUESTION: What was your dream job as a child, why?

A lawyer because I liked to argue (according to my mother).

Great Idea: Remember Your Heritage

Monday 5.24.10

For folks that use banks, how much do you think they have in common with their fellow bankers aside from that particular financial institution? Maybe their kids attend the same school, or they frequent the same grocery store, but not much more than that – and certainly not enough to give them any sort of bond or loyalty to that institution in such turbulent times as these. And that’s why you should remember from whence you came.

Every credit union was started by a particular group with a common bond, usually an employer. These individuals and their family members were eligible to bank there. Today most credit unions have opened up their services to anyone in the community, and while it’s good to allow more folks the option of utilizing your services, don’t forget your heritage!

I attended an annual meeting for one of my credit unions last week. Just weeks before that meeting, the founding member of that credit union had passed away. The vice president of the board was a good friend of his, and at the meeting he spoke a few words. Just hearing the history of the credit union, his passion for its existence and his dream to see it continue to succeed made me realize that “the credit union difference” is more than the copy points we recite to our friends and family who ask that inevitable question, “What’s a credit union?”

“The credit union difference” is more than just being member owned or giving better service and rates than a bank. It’s about a common bond between members, and a heritage. Even if a credit union is community-chartered today, that special bond of community should be recognized. Make sure your marketing folks truly understand the history of your credit union and can accurately celebrate your rich history and heritage in a modern way. We should adhere to our heritage, while finding ways to move forward and grow our credit unions.

5 Questions With: Randall Smith, CUinsight

Tuesday 4.27.10

One of the great things about being a part of the credit union movement, is the people you get to meet. Randall Smith, partner and editor at CUinsight is one of the great CU people involved in the movement who I have come to know and respect. His website, CUinsight.com does an amazing job of bringing credit union information from many organizations and websites into one easy to browse website. He recently relaunched the website with an updated look and some new features, and it's certainly worth checking out! First, get to know Randall in our 5 Questions series this week, then check out www.cuinsight.com

1. There’s always a great story behind a project like this. How did the Great Idea for CU Insight come about?

CUinsight.com was born from the an idea David Miller and I had while having dinner with a couple credit union employees in Indiana. We were talking about all the information available for credit unions but if you do a Google search on any topic the first two pages are all about banks. The idea came from creating a one stop place for all things credit union.

2. You recently unveiled a newly redesigned site. What changes did you make, and what new features are available for visitors?

The biggest change most will notice is the redesigned home page. We wanted to make it a landing page where you can quickly get the daily highlights of what’s going on in the credit union movement on one page. It’s a great first start for your credit union daily news and information. Something that is completely new is the CU Community page. This is an area that the credit union community can submit editorial content and respond to their peers. We are also providing conference coverage and video in the CU Community.

3. Your daily traffic counts are huge, and you have folks in the CU industry talking. What’s the next project in queue for CU Insight?

We have been amazed with the response from the credit union community over the past year. We made the investment on the redesign to have a platform to allow future growth and more features on CUinsight.com. We plan on launching a webcast series soon and always this will be free for the CU community. We have a lot of plans for the future and CUinsight.com will continue to grow and change based on feedback from the community we serve. The community tells us what they need and we do our best to make it happen.

4. To Tweet or Not to Tweet?

We’re big on twitter and really like it to direct traffic to CUinsight.com. I think the big difference is we give you more detail and organize the information. If it’s news, press, events, blogs, resources you’re looking for, we have a page for that. Want to see what the marketing community is talking about or the latest from the regulator, we have a page for that as well. As segmented areas of the CU community grow we create areas to give you a one stop place for industry specific topics.

5. BONUS QUESTION: You’re locked in a credit union forever with one CD (of the music type, not the deposit type)… what CD is it?

Easy answer and a discussion I’ve had many times. For me and I have to go back to high school. Guns n’ Roses, Appetite for Destruction is in my mind the best CD from front to back. Not a bad song on the entire thing.

Great Idea: Get Outta There!

Tuesday 4.13.10

How many times have you heard horrible service stories and said “That doesn’t happen at MY credit union!”? Count me as one of them, until last week. I spent the day with the new business development gal visiting the car dealerships who were our CUDL partners. It has been awhile since this credit union was getting a decent amount of loans from the CUDL dealers and I just assumed we needed to reestablish those relationships. I was right, but there was more to the story.

As we visited dealer after dealer, a common theme started emerging. We weren’t getting responses and approvals back as quickly as we used to, leaving their customers hanging and waiting – while other banks and CUs were sending responses back just as quickly as ever. We have good marketing and very competitive rates - everything was right from the inside.

Here’s your great idea this week: get out of your office. Visit your SEG’s, auto dealers, members etc. Here are a few questions to ask during your visit:

1. What can we be doing better?

2. For dealers: What are other FIs doing that help you serve your customer better than we are?

3. For SEGs: What services can we offer your employees to be more of a resource? (egs: Insurance info, lunch and learns, retirements planning, etc.

When you get negative feedback, don’t go back to your CU and point fingers. Ask the “Question behind the Question” and focus on finding a solution so everyone will come out of this exercise a winner.

5 Questions With: Rob Wright

Wednesday 3.31.10

I believe that for credit unions to grow, or in some cases even stay solvent, they must find ways to collaborate and share resources. From compliance to marketing, there are many CUSO's available as well as other businesses that allow for collaboration to happen. When I met Rob at the GAC, I knew I had to share his story with you. Your credit union can benefit from sharing resources for the benefit of your members. Take a few minutes to read the story of this CUSO, CU Innovators:

1. Congrats on your successful start of CU Innovators. Explain a bit about what CU Innovators does.

CU Innovators assists credit union and CUSO's in product development and collaboration. We help take that idea in the back of your head and turn it into a real product. Sometimes that manifests itself into starting a CUSO for a group of credit unions or it could be helping a CUSO beef up their product lines.

2. Why is a company like yours, or other CUSO’s so important to the CU industry?

Collaboration is the important thing in the credit union industry. CUSO's are just the physical representation of collaboration. CUSO's have the ability to bring credit unions together to offer products and solutions that alone they most likely wouldn't have been able to accomplish. By bringing these new solutions to market, credit unions are able to offer new and innovative products to their membership or dramatically drive down expenses by sharing costs associated with operational items, such as compliance, collections, audit, etc.

3. You’ve worked in credit unions before striking out on your own. What types of strategy did you bring with you to CU Innovators?

Actually, before my credit union experience, I spent the obligatory years in retail. Six years for me actually. The most valuable lesson that taught me was how important standardization of processes and simplicity is to successfulness in any endeavor. With that mindset, any product, process, or solution someone creates must always be designed to be automated to the fullest extent, and when it can't be automated, pretend that monkeys have to do it. If you build your idea so easy a monkey can do it, you will always be able to scale, minimize the growing pains, and your expense.

4. To credit unions who are skeptical about outsourcing certain tasks to CUSO’s, what advice can you give to get them thinking outside the box?

Credit unions are a lot like small towns on occasion. When a small town needs flowers, they go to the local florist. If they need their car worked on, they go to the local mechanic. Is that service person the best at that particular job? Probably not. Since the solution is close and easy, residents of a small town tend to stay local. Credit unions do the same thing. They tend to pick something known to them that is easy, even if it isn't the best. Your credit union is not the best at compliance. Your credit union is not the best at managing a computer network. Find a partner who is the best at what they do, and run with them. Even if it isn't easy, in the long run, it will pay off dramatically.

5. BONUS QUESTION: As a GAC “Crasher”, what one piece of advice can you pass on to new Crashers for next year?

Find a sugar daddy or momma to put you up in a hotel. Be the best dressed person in the room. Do your research and know the real events going on in the industry. Have fun!

Great Idea: Get Back to Your Roots

Monday 3.22.10

Looking at the marketing strategy of many credit unions, it’s to act on their community charter and serve as many people as they can, much like a bank. Today, many credit unions are no different than our counterparts at the banks around the corner from us. I can name several off the top of my mind who don’t deserve to have “CU” as part of their name.

Take a moment to reflect on the roots of your credit union when putting together your marketing plan. Who or what group originally sponsored your credit union? Chances are if you’re a small or even medium-sized community chartered credit union that used to serve a specific group, the majority of your members are still affiliated with that group or company.

Take advantage of that opportunity. If your credit union was originally sponsored as a part of a school system, make sure your marketing plan includes specific promotions and initiatives for the school system. Some examples:

- A teacher or staff of the month promotion sponsored by your credit union

- School supply drive for kids in need in that particular district or system

- Sponsorship and participation in school and district-sponsored events

Remember your roots. Look out for those who were there for you in the beginning and your credit union will flourish!

BTTB: Man "Over"Board

Thurs 3.4.10

The title is for the effect. With that being said let’s be politically correct here. Person “OVER” Board. No one person is bigger than the board of directors as much as some may seem to think otherwise. The president of the board, power board member, doesn’t matter who you are, “All board members votes are created equal”. How so? Each gets one vote. The presidents vote, the power member vote, no stronger than the newest board members vote. As a new board member remember that. It’s powerful. Your vote counts.

Let’s talk about the board member who seems to think otherwise. They want things their way or the highway. The bully. The board member who attempts to be controlling, demanding, talking down to other board members that do not agree with their perspective. A board member that has a belief of self importance. I’m not saying all boards have that exact version of person on their board but maybe in some fashion. As we should be aware allowing bad behavior enforces that persons bad behavior and it can and will grow. That behavior can become an infection to your board of directors which creates a inefficient board. . How do you control infections? A good anti-biotic administered by the leadership team if needed. It may only take a little shot in the arm if caught early enough or a big shot in the.......if you wait too long. You know what I mean. The leadership team has a responsibility to control these behaviors from the start. As a board member, long term or the newest member, if any member speaks to you or any other board member in a fashion that may be disrespectful or inappropriate speak up from the start. Do not allow that board member to become that person “OVER” Board. Finally if needed and you cannot control that members behavior, Throw that member “OVER” board.

Editorial: Movement is Not Just a Word

Mon 3.1.10

In case there is any doubt, the credit union movement is alive and well. And don’t think that the word “movement” is hokey or outdated when referring to credit unions. As part of the “Crash the GAC” in D.C. last week, our group of about 20 “under 30” credit union professionals had some great sessions with some big names in the credit union industry. There is one session in particular I wanted to share with you, in hopes of igniting your passion for credit unions even more.

Pete Crear, president of the World Council of Credit Unions, took some time to meet with our “Crash” group during the GAC. After hearing about the struggles of credit unions in Afghanistan, the destruction of credit unions in Haiti and the growth of credit unions in Poland, I realized how much we take the credit unions in the United States for granted. We walk into our jobs every day trying to come up with the next big promotion to make the bottom line a bit more attractive at the next board meeting. It’s time to think beyond the next best thing.

I challenge you to approach everything you do in your job with zeal, and don’t take your credit union for granted. Only 6 percent of Americans are members of credit unions, so we still have a long way to go in the credit union movement in America. Our job is to help our communities win financially. Here are a few parting tips to help keep the movement alive and growing in our great country:

- Center your product offerings around needs in your community. We’re small enough to react to local markets, unlike a Bank of America

- Remember who your members are and support them. Use a portion of your marketing budget (or create a separate budget) to support your community and specifically your SEGs.

- Remind your staff why we’re different. They’re on the front line every day, and if they haven’t bought into the credit union philosophy, then everything we do is in vain

5 Questions With: Jason Dias

Tuesday 2.9.10

Last September I attended a Gen Y Marketing Conference hosted by Ed Agnoli and his team at the NC League, and I was blown away. One of the best conference I've been to. So today, I introduce you to one of the presenters at the conference, Jason Dias from Eloquent Online.

Eloquent online began working on The concerts for Financial Literacy in late 2007. Working with Adam Van Cleave the Youth Operations Coordinator at Chetco FCU, we envisioned a student assembly that would be a live musical commercial for Chetco FCU. We also wanted to do something that had never been done before.The event was such a hit with the students, teachers and parents, that we began offering our services to other credit unions. Americhoice FCU in Mechanisburg, PA will be putting on its fourth event this February 17 to an audience of 3200 future borrowers! The Association of Vermont Credit Unions selected the Concerts for Financial Literacy as their State-wide Gen Y marketing outreach program. This year our live musical events will have reached over 10,000 young people. It was all made possible because a small credit union in Oregon did something that had never been done before. The Credit Union movement needs more of that.

1. Music. Credit Unions. What’s the common denominator?

Young people. Credit Unions have lots of older depositors and that is great. But to survive they will need young borrowers. Ford saved itself by getting connected to American Idol. Young people love music, combine your brand with music and they will love you too.

2. What is the biggest obstacle you have faced in getting credit unions to try something different, and how do you overcome them?

Credit Unions have a template. Hear an idea, ask for references. Well what do you do if it has never been done? We overcame any doubt by applying some common sense. At Chetco we looked at the popularity of things like American Idol, Guitar Hero, I-pod, I-tunes etc… and knew we had to use music to connect with this musical generation. Now, other Credit Unions don’t have to be first. We were the pioneers and we blazed a trail. But other CUs still need to be willing to build the wagon.

3. How can a credit union benefit from shifting some focus onto reaching Gen Y and Millienials?

Our first event was at Brookings-Harbor High School in May 2008. A week after that event I was honored to give the commencement address to the 2008 Graduating Class. Half a dozen kids came up to me and mentioned they had or were going to join the Chetco FCU. Every gen y’er has over 200,000 dollars of lending needs built into them. That is 1.2 million dollars in potential loans. And profit is the best benefit.

4. Is music just for the young people?

No, we think CUs can use music everywhere. We bring live musicians into conference and training events all the time. Last December our musicians played gorgeous Christmas music in various Vermont Credit Union branches. The older members who still like coming to the branch were blown away.

5. Since we’re talking about music, what was your first concert?

Cheap Trick. But I my favorite group is Rush, who I have seen 8 times.

Check out Eloquent Online here: www.eloquentonline.net

See clips from a "Concert for Financial Literacy" here: www.youtube.com/eloquentonline

Guest Blogger: Ashley Ruff

Friday 2.5.10

Let's face it. Our world is made up of social media, advertising, websites, magazines, mobile signage, the list goes on and on. Right? Someone is trying to sell you a product no matter where you go. Of course when we see a product being advertised, we begin to relate objects or catch phrases with that company... but what if the message isn't clear? That's the importance of branding your identity.

Considering everywhere a logo goes, from a simple letterhead to a large format sign on your branch, is as important as every decision your credit union makes. In this sense, if the logo and style is not consistent, then how will the average person learn to connect the dots? Your logo isn't just what appears on paper, it falls back on every decision your credit union makes. Branding identity doesn't come easily. It’s made with a clear and defined plan of intent to your viewer. It’s made with definite intentions for policies and actions. It’s made with the vision of your members in mind.

So, to establish where your credit union is when branding your identity... compare yourself with other financial institutions out there. What's the difference between you and that them? Are they so consistent with their brand that you don't expect anything BUT their identity presented? Or, are they establishing a recognizable brand that you can relate a color or style or theme to? A successful brand will establish continuity, identity, and consistency. So take a close look at your credit union. What are you missing? What could you push or work on more to establish an identity that has a clear and defined plan?

For more information on branding visit Ashley's blog at www.imagetoimpact.blogspot.com.

Great Idea: Strike While the Iron Is Hot

Tuesday 2.2.10

With all of the negative publicity surrounding Toyota over this past week, I wondered how long it would take another auto company to take advantage of the situation. Answer? Less than five days. A local Nissan dealership is now running ads about the safety of their vehicles, inviting Toyota owners to bring in their vehicle for a sweet deal on a trade, along with a very lucrative “service for life” offer. You can hear the commercial by clicking here.

This particular dealership gets it. So why doesn’t the credit union industry? With all of the negative publicity the national banks are receiving and the great endorsements that credit unions are getting on an almost daily basis – why is there not more of a call from within the industry to capitalize on this opportunity? We’re being handed a once-in-a lifetime opportunity to grow the credit union movement in ways that were never imaginable. We, as an industry, need to put egos aside and come together and educate bank customers that they have a choice – a much better choice.

I made an offer on Friday to provide my services to one credit union league or organization for one year at no cost to them to help capitalize on the wave of great publicity our industry is getting. Some people got defensive. Some snickered. Some responded with some interesting emails. But ultimately, it sparked a day-long conversation about the opportunity that is before us, and some great ideas were offered from all points across the country. My offer stands.

For those who say it can’t happen, I offer up one of my favorite quotes from my elementary school art teacher: “Can’t never did a thing.”

Editorial: Who's Serious About the CU Movement?

Friday 1.29.10

Recently Jeffry Pilcher at The Financial Brand dedicated a blog-post exploring the idea of a national campaign for credit union awareness. He did a great job crunching the numbers to make a case for such an initiative, and of course asked the obvious question “can any CU afford it?” Realistically, probably not. Maybe a national campaign is a bit out of reach right now while the corporate mess still looms over the calculators of our CFO’s.

But what about a statewide campaign? Most state credit union leagues that I’m familiar with already solicit contributions from the credit unions in their state for the purpose of marketing. And most credit union league’s that I’m familiar with are also working on a shoestring budget during these troublesome times making it hard to put such an intense focus on marketing.

Would your credit union find it helpful if your state league did a statewide campaign educating the community about the differences between credit unions and banks, so that you could spend your marketing dollars telling your community why they should choose your credit union? I don’t mean some bumper stickers and brochures… I mean a real campaign. Billboards, radio, even a public relations blitz to media outlets throughout the state.

Rather than sit on my soapbox and wish, I’m going to get down in the trenches and make this happen. I’m willing to work with one state league or organization without cost to help orchestrate such a campaign. Now, let’s see who is serious about taking the credit union movement to the next level. You can email me, bo@yourmarketingco.com

Great Idea: Start Spreadin' the News

Wednesday 1.27.10

Is your credit union taking advantage of all of the great publicity that credit unions have been getting the last few weeks? The national news outlets are full of stories about why credit unions are a better choice than banks. How is your credit union capitalizing on this? Below are some stories you NEED to share with your members and your community. You can use the links to post on your credit union fan page, Twitter account, even use some quotes in your newsletters. Reassure your current members that they’ve made a good decision choosing your credit union, and make everyone else ask “Why am I still with my bank?”

5 Questions With... Credit Union Man

Friday 1.15.10

Being a part of the CUNA Marketing Council, I always look forward to the great questions and answers that spark Great Ideas! But there is one person in particular whose emails I always eagerly anticipate (as do other council members). That person is “Credit Union Man” – otherwise known as Fred Brown, the director of marketing and business development for Northeast Family Federal Credit Union.

If Fred’s name sounds familiar to you, it’s probably from all of the attention he received a few months ago from donating a kidney to a complete stranger. That should tell you just how special Fred is and what a blessing it is that we have Fred… ahem, I mean, Credit Union Man…as part of our movement! Now, let’s have “5 Questions With Fred Brown.”

Tell us about how “Credit Union Man” came to be, and what is in store for “Credit Union Man” in 2010:

Credit Union Man was conceived in February 2009 as a simple way to add some fun to my group (SEG) visits. Prior to my visits, I would send posters, payroll stuffers and e-mails - all with when I would be there and all the other important details of my visit. Yet every time I showed up, I instantly became the "Credit Union Man". To tell you the truth, I didn't care what they called me as long as they became credit union members. So was born, Credit Union Man.

I started with a simple name tag with CU Man on it. That led to an e-mail signature. The e-mail signature received positive responses from across the country. I started answering more queries on the CUNA list serv, which got CU Man more attention.

After a bit more thought, actually about 30-seconds, I decided to create the character Credit Union Man. After trademarking the image, I then wanted a costume. Little did I know stores just don't carry ready made outfits (especially in my size) to squeeze into.

What makes you so passionate about credit unions:

Credit unions are able to help people! It's that simple. When I started at my credit union, I barely knew the difference, but years later, now that I have seen many, many members get the help a bank wouldn't give them. What a great feeling to have people literally hug you and tell you that you saved their lives. Yep, my job is pretty good.

What do you view as the biggest issue facing the credit union industry today:

The credit union image. To some, credit unions are seen as banks because they're so big and "act" like a bank. Others see credit unions as banks because they don't know the difference. In my experience (and others I've spoken to) once someone leaves a bank and experiences the credit union difference, they become my best marketing tool.

Best piece of advice you have ever been given:

Don't give up. This job is part education, as well as marketing. From my boss, Joanne Todd.

BONUS QUESTION: What is your top New Years Resolution, and can how long can you keep it?

My New Year's resolution is two fold. #1 To have more patience with people who say "oh, you're just like a bank" and #2 to to set record member growth at Northeast Family FCU. I'll keep these two resolutions throughout the year.

Be sure to keep up the exciting adventure of Credit Union Man on his blog, at www.creditunionman.com, and if you ask nicely you might just get your very own Credit union man temporary tattoo!

Great Idea: Clean House

Tuesday 1.12.10

Want to make your board members gasp? Tell them you want to REDUCE the number of members your credit union has (enter the silence and crickets chirping here). We recently did a cost analysis at one of our credit unions that led us to realize that we needed to drop some members. There was a group of members who kept an account simply to cash their checks. They had no intention of using any other services offered, but they constantly used up a lot of the staff’s time to check balances and undertake tasks they could do themselves through the automated phone system or internet banking system. Our research showed that a large group of members who utilized the services of our credit union were footing the bill for this smaller group of members who had no intention of ever using the credit union in a positive manner.

After more research and some input from the credit union staff and members, we developed a complete redesign of our products. To protect the privacy of this credit union I won’t go into specifics about the restructuring, but I will say that through this process we have become a more profitable credit union. That means we can give an even better return to our membership. Sometimes “more marketing” isn’t the answer. Take some time to sit down with your management team and board of directors, review your monthly reports and see how you can improve your credit union for your members this year.

BTTB: Ideas for New Board Members

Thursday 1.7.10

It's that time of year, many of you will have an annual meeting not too far away - and that means the possiblitiy of a new board member (or two). Enjoy the first blog-post from our "Breaking Through the Board" specialist, Paul McDonald. Paul addresses some ideas for you to share with new board members to help ensure success for both the board member, and your credit union.

Simple Rules for New Credit Union Board Members

It’s all about: MEE !

M = Mentor
E = Ears
E = Eyes

Mentoring:
One of the most valuable tools a new board member can access is a good mentor. If your board does not offer mentors ask if they can assign one to you. An experienced board member who is willing to share their knowledge can be priceless to you as a new member. Ask questions of your mentor and watch and listen to their comments, discussions, and actions during each board meeting and learn.

Ears:
As we know we can listen to the conversations going on but do we hear what is being said? Your ears are a powerful tool. Hear what is being said and how it is being said. The “how” will tell you the importance of the subject being addressed and you should focus on those discussions as a great learning opportunity. All discussions are an opportunity for learning, some just more that others. Your ears will open your eyes.

Eyes:
We can see and hear with our eyes. During the first few board meetings watch your fellow board members and learn about them. They can teach you so much. Who are the power board members. Who are those that are not afraid to speak up and address issues. Watch their body language, their facial expressions and you will “see” and “hear” the way to speak or not to speak, and the way to address or not to address your fellow members.

Finally, one of the most important rules, “do not be a rubber stamp board member”. I have seen many times members that just rubber stamp every issue brought to the board. Know the issues and ask for further discussion regarding issues you do not understand. You can not know everything so find your niche and learn it well. Be a respected member of your board of directors. As I stated in the beginning, “It’s all about MEE”. It is all about “MEE” but it is not all about “me”. It’s about a board of directors that needs each and every member to be a vital part of a group to succeed.

New Years Resolutions

Monday 1.4.10

Why not start off the New Year by showing your members why you really are different from the banks? With many of your members making resolutions to get their finances in order or even getting completely out of debt, now is a good time to promote a debt consolidation loan to help your members accomplish their goals for 2010.

But don’t stop there! If your credit union offers financial counseling services, promote that in conjunction with the debt consolidation loans, especially if you partner with an outside company like Balance or Accel.

It’s easy to promote this loan program and the counseling services with some in-house signage, statement stuffers, a first quarter newsletter, social media – and, of course, be sure to have your MSRs and/or loan officers promoting this to the members who get turned down for a loan.

Welcome to 2010!

Friday 1.1.10

As we dig our heels into 2010, I've got some great blogposts to share with you! We'll continue to share some great ideas with you, but we'll also introduce you to some of the greatest minds and leading credit unions with our "5 Questions With..." series. Here's to a GREAT 2010!

Guest Blogger: Ashley Ruff

Friday 12.18.09

Today I'd like to introduce you to the talented woman who is the brains behind the design for all of our client, Ashley Ruff. She'll pitch in with a guest blog from time to time with some Great Ideas for the credit unions who handle their designing in house. For more information about her design or photography services, and to read her own blog visit www.imagetoimpact.net. Enjoy!

I’m sure you’ve all seen that bad advertisement. The one with one large picture, and so much text you have no idea where to start reading it; if you even attempt. But then on top of that there’s no point to the ad, or at least you can’t figure our their message. So of course, you quickly turn the page or continue driving, not giving the advertisement one more moment of thought. Effective graphic design is completely different than those horrible examples I’ve just explained. Effective graphic design starts with a purpose.

So what’s the purpose of design? With everyone in such a hurry, you have only fractions of a second to grab someone’s attention and get your message across. Knowing how to do this effectively is what makes graphic design so important and exciting. It is important because fortunes are made and lost on effective or ineffective graphic design. Design is used in every aspect of life, from a billboard to a cereal box. There is some sort of design in place in everything printed or multimedia based, its just a matter of finding it.

So, back to the intent of design. Graphic designers use a specific purpose to portray an element of design. For example: an advertisement for the newest pair of Sketchers shoes. A large photo of the product combined with a small amount of descriptive and enticing words equals and effective design. The viewer is pulled in by an image they can relate to, then reinforced with words they want to hear/see. The purpose in the situation is to gain money off of the new brand of shoes, and the intent is for the viewer to be intrigued.

Next time you’re riding down the road or flipping through a magazine, pay attention to what catches your eye. Is it the photo? The interesting use of words? The colors? All of these examples are elements of design that graphic designers use intentionally to draw attention from the viewer. Now, the true test is… are you thinking about going out to buy that item? Now that is effective design with intention in mind.

5 Questions With... Carla Day

Wednesday 12.16.09

This is the first of the series of “5 Questions With…” As often as possible, we’ll feature a brief interview with some of the most interesting people in the credit union industry. Sometimes you’ll be introduced to someone who doesn’t get the spotlight often in the credit union industry, and other times, like today it will be a name many of us are familiar with. For the very first “5 Questions With…” Please allow me introduce you to the organizer of the successful BarCampBank Chicago, and founder of CU Chat Up, Ms. Carla Day.

YMC: First, give us a brief introduction to CU Chat Up

Carla: I first heard about blogtalkradio.com when a blogger I know was going to be a guest on a show called TV Talk. I listened in and chatted in the chat room. I had never heard of this service before and at first thought about how credit unions could use it. I added to my list of ideas for a credit union to use for member education or to complement a savings contest. Then, some friends started their own radio show about social media to support their online community and consulting business. That gave me the idea of doing a credit union show for credit union professionals. I searched and no one else was doing one. My first show was a week later.

Topics so far have included BarCampBanks and other 'unconferences', Online Banking innovations with Geezeo, and the new Overdraft Protection rules just recently approved by the Fed.

In the future, I plan on having shows on credit union advocacy, new innovations that credit unions are doing, the new Credit Card website that is launching to support the credit union difference, incorporating online communities into a traditional marketing plan, and plenty of other topics. I am in the process of lining up guest for the shows. I also am looking for feedback from the listeners about what they want to hear about.

Very soon, I will be expanding the idea of CU Chat Up from a radio show and blog to an online community that will allow further "chatting" about credit union issues.

YMC: What makes you so passionate about credit unions?

Carla: I love credit unions because of the cooperative nature of the industry. Credit unions themselves are set up for the interest of their members and the industry as a whole is also very cooperative. It is exciting to work in a business that is there for the primary purpose of helping those that they serve. While most of my career has been at credit unions, I have worked at other financial institutions and difference in core values is very evident. The sharing that goes on between credit unions and even business partners is very refreshing as well.

YMC: What one credit union (besides your own if applicable) do you look to for inspiration for new ideas, and why?

Carla: I look to many different credit unions for inspiration. There are amazing things being done at credit unions across the country and beyond from savings contests, member education, technological advances, Real Solutions programs for the underserved, and Filene's i3 program to name a few.

YMC: What do you think is the biggest challenge facing the credit union industry today?

Carla: The biggest challenge for credit union industry today is dealing with the aftermath of the financial crisis. Most immediately, that includes dealing with the corporate credit union problems and the new regulations such as the Federal Reserve Board's overdraft protection rules and others that congress is sure to enact.

YMC: Best piece of advice you have ever been given:

Carla: The best advice I got was from my parents and that was to have good work ethic and take pride in your work. While not particularly original, it has been integral to my success.

YMC: BONUS QUESTION What is your musical guilty pleasure?

Carla: Probably have quite a few, but most recently it would be Lady Gaga's Just Dance. I just love that song!

Thanks Carla for letting us get to know you better! You can listen in and participate in the CU Chat Up with Carla Day and her guests here

Great Idea: Facebook Fan Page

Monday 12.14.09

I’ve seen many credit unions create a fan page for themselves on Facebook – all of the credit unions that I work with have posted one. It’s a great tool to communicate with members outside of the branch and it’s a fresh approach to traditional advertising.

Many credit unions embark on this project thinking they’re going to reach non-members in their community and sign them up on the spot. Chances are slim of that happening.

But there is a way that you can reach non-members on Facebook, and it’s not through your credit union fan page.

One of the messages promoted by SRFCU in Spartanburg, S.C. is saving members money. They launched the Facebook page “Spartanburg Saves” just a few months ago, and within days the Spartanburg Saves fan page had double the fans as their very own credit union page. The content for this page is updated at least a few times a week with money-saving tips and ideas from around the community, including credit union messages as often as possible.

Now would be a good time to explore this Great Idea for your credit union. Here are a few tips:

1. Choose a message that reflects your credit union (going green, saving money, community involvement, etc). Let the world know why you’re unique!

2. Choose one member of your credit union team that will be responsible for updating this page frequently (at least a few times a week). Consistency is the key.

3. Encourage reaction and feedback from your fans by rewarding them for interacting on the fan page – contests are great ways to get fans involved.

4. Advertise this page on Facebook. It’s very inexpensive, and you can narrow down who sees your ad. You only pay for the people who click on your ad, not who sees it.

Great Idea: Text Marketing

Monday 12.7.09

Take a look around. The couple on a date at the table next to you in a restaurant is texting. The soccer mom in front of you at the grocery store. Yes, even the person driving in the car next to you is texting. You don’t have to agree with it. You don’t even have to do it yourself. But you must acknowledge that with 3 billion mobile phones in use, texting is a very quick and convenient way to communicate. Now, you can communicate with your members and future members via text.

Several credit unions have launched text marketing campaigns in 2009, with great results. With the average text marketing campaign for a credit union costing less than $200 per month, it’s worth a shot. And the results speak for themselves. One credit union used text marketing to promote a special rate on their VISA card. Out of the 811 people who received the message, the credit union opened 8 new VISAs. Not only that, each of those eight was a new member. One of those members brought all of their savings and checking accounts to the credit union, and one financed their new vehicle purchase the very next week.

Isn’t this spamming? NO! Each person who received the text message voluntarily opted to receive the text message through a text-to-win contest. When the opt-out message was sent to the recipients soon after, only 4 people opted to discontinue receipt of the credit union text messages.

Text marketing is a GREAT IDEA! Experience a live demo by texting IDEA to 84444, then let us get in touch with you to explain more.

Welcome!

11.27.09 - WELCOME!

Welcome to the great ideas page! We'll update a few times a week with some great ideas you might find useful at your credit union. We'll feature guest bloggers such as Paul McDonald from our Breaking Through the Board page as well as our graphic designer Ashley Ruff from Image to Impact. We'll also feature "5 Questions With...", a series that will present a mini-interview with those in the credit union industry who are doing great things!


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