GREENVILLE, SC (May 15, 2024) — With the newly minted industry initiative, “No Credit Union Left Behind,” what a better way to act than to make strategic marketing more affordable for small credit unions? Your Marketing Co., a strategic marketing and branding agency, announced today special savings for new credit union clients under $150 million and under $50 million in assets.
“Empowering smaller credit unions with accessible marketing solutions not only fosters their growth, but also contributes to the overall strength and vitality of the industry,” said YMC President and CEO Bo McDonald.
YMC’s current roster spans credit unions from $21 million up to $355 million in assets. The average credit union is $112 million.
“Every credit union, regardless of size, represents a unique community bond and financial lifeline for its members,” McDonald said. “Preserving these institutions is about safeguarding the heartbeat of local economies and empowering their members to thrive.”
Many of YMC’s smaller credit unions are witnessing phenomenal growth. Bridgeton Onized Federal Credit Union, a New Jersey-based $47 million credit union, recorded loan growth of 33.64% in 2023. Maple Federal Credit Union, at $68 million in total assets, grew membership 4.29% in the greater region of Lafayette, La., while growing loans 13.15%
Along the border of New York and Vermont, $64 million Great Meadow Federal Credit Union reported return on average assets (ROAA) of 1.38% in 2023. For the first quarter of this year, Mint Valley Federal Credit Union, a $22 million credit union based in Longview, Wash., recorded double digit loan growth and was among YMC’s top 5 in the category.
“We’ve found that boutique credit unions can stand at the forefront of industry innovation – armed with strategic insights and creative solutions tailored to engage, educate and retain the next generation of members,” McDonald said.
The buzz surrounding “No Credit Union Left Behind,” began at the Underground Community at CUNA’s Governmental Affairs Conference in March. Juan Fernández Ceballos, president and CEO of the Louisiana Credit Union League, uttered the phrase at a panel discussion, and since then, many industry leaders have been championing small credit unions on social media, podcasts, webinars and at conferences.
Small credit unions can sharpen their expertise and credibility and target their market, McDonald said. A clear niche helps one’s brand become a big fish in a small pond. And as vulnerable borrowers face unfair terms and deceptive tactic with excessively high-interest rates from other lenders, small credit unions can help consumers avoid debt traps, loss of assets and damages to their credit core.
The special savings for new clients under $150 million and $50 million are for mission- and vision-driven credit unions that have positive, can-do attitudes, embrace and value technology, and are open to collaboration and change.
“When it came to making this decision, we asked ourselves, ‘does it further our mission and rally our cause,” McDonald said. “Our cause is to bridge the gap between those who can help (credit unions) and those in need. The ‘No Credit Union Left Behind’ initiative is to empower small credit unions to not just survive but thrive.”
Your Marketing Co. is a full-service strategic planning, branding, and marketing firm serving credit unions that are not content with the status quo. Since 2008, YMC has helped dozens of credit unions grow their potential through strategy, execution, and accountability. And we give a damn!
Bo McDonald
Phone: (864) 230-1923
E-mail: bo@yourmarketingco.com
