Inside Marketing: Which came first, the loan or the member?
Try these tips for growing your credit union’s membership and your lending program.
No doubt you have heard the old philosophical saying regarding who preceded whom. Was it the chicken or the egg? Aristotle was the first to debate the issue (not to pose the question), though he dodged the answer by saying both went infinitely backwards and were always in existence. It was Plutarch who would put the question in its current form, and we have been wrestling with it for ages.
So in that vein, we thought we’d pose our own question: Which came first, the loan or the member? A credit union has to exist in order to offer loans. However, you need members to make deposits or no loans can be provided! Do members choose you because of the loan products you provide, or are they members first and the loans come later? While we are not here to argue those points, we do have some suggestions to build up each side.
How to Attract Credit Union Members
There are many ways to bring in new members to your credit union when you really commit to a creative marketing process. Try these three outside-of-the-box ideas.
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