Awareness initiative to raise CUs’ profile
‘The CU industry is truly at a crossroads.’
Attendees of the America’s Credit Union Conference received an update on the progress of the Credit Union Awareness Initiative Tuesday.
Launched last year by the CUNA Board, the Awareness Initiative aims to raise broad-based consumer awareness of credit unions by establishing a new, national brand platform for the industry.
“The credit union industry is truly at a crossroads,” says Teresa Freeborn, chair of the Creating Awareness Advisory Group, the committee appointed by the CUNA Board to lead the initiative. “For four decades we’ve hung on to 6-7% market share with little upward movement.
“In this day of fintech and near-daily new entrants into the market, credit unions have to work so much harder to separate themselves from the rest of the pack.”
To create that greater awareness, the Advisory Group decided to create a brand platform for the industry based on extensive national consumer research, the first round of which it conducted earlier this year.
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