The Marketing Blog,Your Most Powerful Marketing Tool: Your Difference, discussed the importance of making your members aware not only of the benefits your Credit Union offers, but why such benefits are possible. Banks and other financial institutions may be able to match your products and services identically, but they cannot beat your difference.

Here are some tactics you are able to incorporate into your marketing efforts that will increase member loyalty and reinforce their reasons for membership at your Credit Union:

Newsletters                                                                                                                                                            Each newsletter, have a designated section where you reveal a beneficial fact specific to Credit Unions.      

When promoting a new product or service, explain why the new feature is available (generated income was returned to the membership by implementing the new, beneficial service).

If you promote loan rates or deposit yields, place a comment referencing such rates are available because you are a Credit Union.
                                                                                                                                                              Website                                                                                                                                                                 Create a specific section on your website designated to explaining how Credit Unions operate and the benefits available to their members (higher deposit yields, lower loan rates, lower or eliminated fees, etc.).

Have a simple chart outline the differences between banks and Credit Unions In your loan rates, deposit yields, and fee schedule sections place a simple comment on the page stating such rates or low fees are available because you are a Credit Union.

Print Materials                                                                                                                                         Create a brochure describing how a Credit Union operates, the benefits of being a member, and a simple chart highlighting the difference between banks and Credit Unions.

Distribute these to Select Employee Groups, place a copy in each new membership packet, and display a portion in high-traffic areas of your lobby.

On printed fee schedules and rate sheets, place a comment reminding your members such beneficial rates and low fees are possible because they are members of a Credit Union.

Monthly Statements
Make it common practice to reveal a fact or beneficial aspect of Credit Unions each month / quarter in your statement messages.

Place inserts in your statements describing the benefits of Credit Unions and how they differ from banks.

Promotions
Create Refer-A-Friend campaigns based specifically on the benefits of Credit Union membership. Again, banks can match your products and services tit-for-tat, but they cannot beat your difference. Failing to market your CU difference often leaves your potential members comparing products and services, which are usually identical, making the decision to switch a low priority.

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