Inside Marketing: Tips and best practices for applying to industry awards

Consider your credit union's goals and do your homework to get the best return on investment from participating in awards programs.

We all know the credit union philosophy is “people helping people.” Credit unions across the country and worldwide are committed to supporting their members and communities by doing whatever it takes to lend a helping hand. Many credit unions regularly and freely give praise and recognition by sharing a member shout-out or a community spotlight. Something they’re not always so quick to do? Brag on themselves.

Credit unions are doing amazing work across the board, yet so many shy away from nominating themselves for the many industry awards programs available each year. However, this is something that should be carefully considered, as awards are a powerful tool to help attract new members, boost brand recognition and even grow existing relationships.

To those who have never applied for an industry award before, the process might seem overwhelming. Below, we’ll outline the many steps and best practices that can make the process easier, helping your credit union put its best foot forward in the application.

Consider Your Top Goals and Values

The most important aspect of the award process is determining if the award aligns with your institution’s long-term goals and core values. For example, do you want to be known for your member service, your innovative technology or your diversity, equity and inclusion efforts? There are many different types of awards out there, so be strategic about where you spend your time and effort.

 

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