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.
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.”
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.
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.
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.
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!
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
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?
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:
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.
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.
Mon 3.1.10
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.
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.
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.
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.
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?”
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.
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.
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.
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.
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!
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!
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.
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.
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!