Five ways financial education drives brand awareness

Over 75% of Americans are financially anxious, which could be due in part to a rising trend of poor financial literacy. Research indicates that while 59% of Baby Boomers meet the criteria for financial literacy, only 36% of Gen Z achieve similar benchmarks. While credit unions have a history of excelling at financial education, integrating financial education into your content creation can build better brand awareness and deepen member relationships.

What is a brand?

A brand is so much more than your credit union’s logo or slogan. It embodies the essence of your entire organization and, when done right, can resonate with an audience on multiple levels. If we peel back the layers of your brand, we’ll find your:

• Identity: Your mission, vision, and what makes you unique
• Reputation: How you consistently deliver quality service and ethical practices
• Authority: Your expertise in financial services and commitment to community development
• Values: Your core principles
• Personality: Your distinctive voice, tone, and style
• Community impact: The real difference you make in the communities you serve

Together, these elements set you apart from the competition and create an emotional connection with your members.

So, what does all of this have to do with financial education? By providing financial knowledge and skills, your brand demonstrates a commitment to empowering and enriching lives that goes beyond the standard transactions.

The idea that financial education is linked to brand awareness is growing in several industries. For example, insurance providers are focusing on providing financial literacy and education resources for their customers, prioritizing customer financial education as part of their service offerings. Similarly, employers like Protiviti, KPMG, and Trek are offering their employees access to financial education resources and tools, reflecting a broader trend of companies prioritizing financial education and wellness.

These initiatives aren’t just about helping individuals manage their money better; they’re also about driving brand awareness. By positioning your brand as a trusted source of financial education, whether for members or employees, you’re strengthening your brand’s reputation, authority, and connection with your target audience.

Here are five ways financial education can help your credit union amplify brand awareness.

Five ways financial education drives brand awareness

1. Makes your brand more trustworthy and recognizable

Over 80% of consumers need to trust a brand before buying from it. Offering financial literacy initiatives lays the foundation for a relationship built on trust.

Your brand becomes more than just another business when you actively promote financial education. You become a trusted advisor and a reliable source of information. This trust translates into increased recognition in the marketplace as members associate your brand with reliability and integrity.

2. Shows you’re an expert and that you care about your members

By investing in financial education, you show your members that you care about more than just their wallets. You care about their overall well-being. By educating people, you empower them to take charge of their financial futures, and you show genuine empathy.

This can grow your brand and your bottom line. According to research reported by the Harvard Business Review, “On a lifetime value basis, emotionally connected customers are more than twice as valuable as highly satisfied customers.”

Your brand establishes itself as a trusted authority and cultivates lasting relationships with members by showing expertise and care through financial education.

3. Keeps your members engaged and loyal

By educating members, we invite them to take an active role in their financial lives. Credit unions can build loyalty and affinity through engaging content and interactive experiences. Engagement strengthens relationships over time and reinforces brand presence.

The “80/20 rule” for brand loyalty underscores deep, lasting relationships. This rule shows that around 80% of a brand’s revenue comes from 20% of its customers. Credit unions should prioritize building strong, enduring connections with this select group of highly valuable members since they’re a major part of their success.

4. Allows your brand’s values to shine through

Did you know that 64% of people prioritize shared values when forming relationships with brands? This emphasizes the importance of aligning your brand with your audience’s values.

When members see your brand as an advocate for financial literacy and offer resources to help them succeed, they build a deeper connection. Additionally, actively promoting education and empowerment demonstrates your brand’s commitment to social responsibility and resonates with members who share these values.

5. Uses tech to make learning fun and accessible

Technology is more than just a tool in financial education—it’s a game-changer. Here at Zogo, we help credit unions make learning engaging and accessible for modern audiences. Our apps, gamified platforms, and bite-sized lessons make financial education fun and informative.

Visuals, infographics, and other game-like elements increase knowledge retention by 30%. Members appreciate brands embracing new technologies to enhance their experiences, making your brand more appealing than less techie competitors.

Amplifying your brand awareness

Prioritizing financial literacy initiatives will help credit unions shine and resonate more with their audience. Let’s prioritize financial education so people can make informed decisions.

Take the first step toward enhancing brand awareness through financial education by requesting a demo with Zogo. Discover how our impactful financial literacy solutions can seamlessly integrate into your credit union’s offerings.