With declining traffic in branches, fewer SEG relationships, and more fintech competition, many credit unions are looking to digital as a way to recapture interest, lead and more business. There has been a proliferation of credit union investment in mobile banking and updating websites which is key to competing.  However, there needs to be a focus on offering a seamless omni-channel member experience which flows from mobile to online to branch. A lot of this member experience management is done …

While not glamorous, project management is a key factor in keeping your focus on credit union goals. Everyone is prone to dealing with the crisis situation when it happens and putting other work aside temporarily. However, if time is not programmed for regular tasks and projects, everything becomes a crisis! Set tracking for easy updating – Be prepared for reporting results on demand. Using a marketing dashboard is a key tool. Also, a budgeting worksheet helps keep tabs on expenditures. …

For most marketers, looking at “the numbers” is not their favorite part of their jobs!  Having learned through the years how often I had to justify marketing expenditures and strategies to CFOs and CEOs, “the numbers” became my friends! Here are three reports that provide the initial insights: What do we have to work with this year? Report: Distribution of Members by Age Segment, overlaying loans and deposit dollars by the age segments. This report offers insights into what segments are …

There are three dangers that come from setting growth goals in a strategic plan each year that not only may not be attainable, but more importantly are not grounded in developing new members once they join. First, there is the danger of being self-defeating by making up a number, like; “Grow membership by10%” after a year of attracting 3% growth. The second danger is not having a strategy for attracting members in the age segments necessary to bring in loans and/or …