Does highlighting the CU difference on a website make a difference?
Filene researchers say it does; credit unions that display this difference post better performance metrics than credit unions that don’t.
When credit unions highlight the credit union difference on their websites does it make a difference when it comes to financial performance?
Yes it does, according to a Filene review of nearly 400 credit union websites. Financial cooperatives that showcased or prominently displayed the credit union difference, in whatever form, perform better across key performance metrics such as asset growth and return on assets.
The review was compiled for Filene by Luis G. Dopico, a Filene economist, Taylor C. Nelms, Filene’s senior director of research and Andrew Turner, a lecturer for the University of Wisconsin Law School.
Turner evaluated 378 credit union websites and classified them as to whether and how strongly they highlight the credit union difference. The three categories were “very explicit,” which stands for credit unions that highlighted the credit union difference in detail on their homepage, “more explicit,” which means credit unions highlighted the credit union difference on their website, and “less explicit,” which stands for credit unions that did not highlight the credit union difference on their website.
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