Credit Union Marketing Budgets : 5 Things You Need to Know
The Financial Brand looked at the marketing budgets for the 100 biggest credit unions in the U.S., revealing a number of insights that will surprise anyone in the banking industry.
The Financial Brand pulled the marketing budgets from NCUA 5300 call reports for the top 100 credit unions in America as ranked by assets. Here’s the rundown, along with six things you probably didn’t know about credit union marketing in the U.S.
Marketing Data for the Top 100 Credit Unions
Average Asset Size: $3.9 billion
Median Asset Size: $2.6 billion
#1 by Assets: Navy Federal ($48.0 billion)
#100 by Assets: Connecticut State Employees ($1.6 billion)
Average Membership: 284,985
Median Membership: 200,426
#1 by Members: Navy Federal (3.9 million members, $48.0 billion assets)
#100 by Members: Melrose (24,285 members, $1.7 billion assets)
Average Marketing Budget: $3.9 million
Median Marketing Budget: $2.6 million
Average % of Assets Allocated to Marketing: 0.10%
Median % of Assets Allocated to Marketing: 0.10%
Average Marketing Dollars Allocated Per Member: $13.81
Median Marketing Dollars Allocated Per Member: $13.00
Most Marketing Dollars Allocated Per Member: Melrose ($203)
Least Marketing Dollars Allocated Per Member: State Farm (5¢)
Average Member Growth: 5.16%
Median Member Growth: 4.81%
Average Marketing Investment Per Net New Member: $281.48
Median Marketing Investment Per Net New Member: $223.00
Average Marketing Investment Per Branch: $190,954
Median Marketing Investment Per Branch: $102,278
Most Marketing Dollars Allocated Per Branch: Melrose ($4.9 million, 1 branch)
Least Marketing Dollars Allocated Per Branch: State Farm ($283, 24 branches)