Why compete with big reward cards for a share of the wallet? Deepen member relationships with money-saving balance transfer offers instead. For too many years, small to medium and even large financial institutions have competed [...]
You work for a local, community credit union. A couple of blocks over is Acme Mega Bank, a well-recognized national brand that probably has a monthly marketing budget twice the size of your yearly salary. [...]
Today’s consumers expect communications to be specific to their individual situation. A one-size-fits-all cookie cutter approach is no longer accepted … and as financial institutions, we do not get a pass on this. Members know [...]
Access to ever-increasing amounts of data can cause anxiety, and sometimes action paralysis. Many marketing professionals ask, “Is there more data I could look at before making a decision?” While large amounts of data may [...]
Many credit unions find that a formal Primary Financial Institution (PFI) definition is an effective way to measure their most engaged, relevant, loyal, profitable, and “sticky” households (HHs). Whether formally defined or informally outlined, the [...]
The challenges presented to credit unions in the effort to grow and retain member relationships are significant. Consider these stats: About 79% of consumers consider their financial institution as transactional. They don’t see it [...]
Thank you for tuning in to episode 29 of The CUInsight Network, with your host, Lauren Culp, Publisher & CEO of CUInsight.com. In The CUInsight Network, we take a deeper dive with the thought [...]
With financial technology, Big Tech and megabanks on the rise, 2022 is a year to focus on retaining and deepening the relationships of your existing members. Credit unions may not be able to compete with [...]
Each year we ask ourselves the same question – how do we help our clients better connect with their members? While technology and social media are driving us all toward digital solutions such as texting and [...]
Over 2,000 years ago, the Romans built lighthouses in Egypt to warn ships of dangers and keep them safe, allowing sailors to navigate treacherous waters and carry out their mission. Today, marketers navigate relationships [...]
Section 1071 of the Dodd-Frank Act was intended to facilitate fair lending laws by identifying business and community development lending needs and barriers for small, women-owned and minority businesses. Section 1071 amended the Equal Credit [...]
When COVID-19 first made its appearance, it affected every part of our lives, including our financial health and well-being. The pandemic also caused a monumental pivot on how we conducted business. The financial industry’s [...]
So how will you be different? To me, that is the primary challenge for this generation of leaders at every credit union. The Digital Age is moving your prospective members to see that they don’[...]
It seems like every marketer I talk to is overwhelmed by the growing number of items on their to-do list. “You know, back in the day, we had to do the same things in marketing ... [...]
Back in the 1980’s when Al Gore was cooking up his Internet scheme we could hardly imagine a knock-down, drag out fight today over how to capitalize on the power of this new digital [...]
