An important element of every credit union’s business plan is philanthropy. How do we as an organization give back to the communities we serve?
Most credit unions support local events, contribute to important causes, allow staff to volunteer during paid time, and participate in service organizations. All are important to creating a brand and culture with meaning and connecting with target communities.
Today, credit unions can use both digital and branch delivery channels—a “phygital” strategy, as Price Waterhouse Cooper has deemed it—to tell people about their good work. As branch visits decline do physical locations become less effective as community connectors? Not necessarily, if they are driven by a strong strategic plan and clear business and philanthropic objectives.
Simplistically, you need to make money to give money. Philanthropy is a passionate topic at board meetings and one of the prime objectives of the organization. How then are these philanthropic objectives delivered through the strategic branching plan?
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