How to Attract Credit Union Members

By Michael Corn

At the CUNA GAC last month, CUNA’s Bill Cheney offered a vision for credit unions in which “Americans choose credit unions as their best financial partner.” Cheney talked about a cultural shift in America that is leading people away from doing business with big corporations and big banks – a trend supported by a new report from the American Customer Satisfaction Index for financial institutions. ACSI’s press release noted that “Customers are more satisfied than ever before with credit unions, as the industry’s score soars 8.7% to 87 (on a scale of 0 to 100)—the highest score ever reached by any of ACSI’s 47 industries.”

Look at the phenomenon that began with one woman’s comments on Facebook and turned into Bank Transfer Day. This is the time for credit unions to show how they’re different from banks – member-focused, involved in the community, willing to collaborate, dedicated to members’ financial wellbeing.

How can credit unions attract members and increase the savings benefit to them? Offer value and build relationships with your members.

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