Will Merger Be Our Credit Union Story?
In 1969, the credit union movement reached its peak: 23,866 credit unions across the United States. Nearly all were single-sponsor cooperatives – hospital employees, mill workers, church groups, federal offices, teachers, – tightly knit, deeply mission-driven, and fiercely loyal to the people they served. Today, fewer than 4,200 remain. Yes, some mergers made sense. Many Read More »
10 Years Later: How Much Have You Changed?
A lot can change in a decade. Ten years ago, in 2015, we were still begging people to “like” our Facebook pages because organic reach actually existed. Instagram was mostly photos of brunch and filters that made everything look vaguely like a Polaroid. TikTok wasn’t even on our radar — Musical.ly was still a thing. Most Read More »
When your sponsor kicks you to the curb: A wake-up call for credit union leaders
There’s a difficult conversation that needs to happen more often in credit union boardrooms—and it starts with this simple question: What do you do when the group that helped form your credit union no longer wants to be associated with it? The U.S. credit union system was built on sponsor groups—employers and associations that believed in Read More »
Stop Playing the Victim Card: How Credit Unions Can Reclaim Their Power
Let’s rip the Band-Aid off: credit unions, we’ve got a victim complex. Not all of us. It’s not a blanket statement (becasue I hate blanket statements.) But it’s there—lurking in boardrooms, strategy sessions, and sometimes in our marketing. It sounds like this: Are those real challenges? Absolutely. But repeating them like a mantra does something Read More »
Better Sales Conversations for Credit Unions
We’ve all been there. Someone dismisses something you love – be it a TV show, a product, or an idea, and your first instinct is to defend it passionately. Take LOST, for instance. If someone tells me they didn’t like it or “they were always dead,” my gut reaction is to dive into a 30-minute dissertation on Read More »
The Future of Finance | Credit Unions and Decentralized Finance
In case you haven’t noticed, the credit union model is dying – lost in a quagmire of dizzying consumer options. Our message is getting lost as we fall further behind with digital adoption and modernizing our infrastructure. We continue to communicate our differentiators to the marketplace based on products or services rather than the fundamental Read More »
Why Credit Union Marketing Doesn’t Work (and How to Fix It!)
If you’ve ever felt like shouting into the void when promoting your credit union, you’re not alone. It can feel like no one’s listening, and you’re left wondering why your perfectly crafted messages aren’t landing. But fear not! We’re diving into three reasons why credit union marketing often falls flat—and, more importantly, how we can Read More »
Why Are Members Closing Accounts and Leaving Your Credit Union?
“Some of them are just passing away!” I’m a marketer, not a doctor, so I can’t help with that. “68% of consumers leave a business relationship because of a perceived attitude of indifference.” I’m a marketer; I may be able to help with that. But let’s dive deeper into this statement and follow my golden Read More »
Why your credit union marketing strategy is failing – or is It?
Oh, the frustration! An increased budget. An innovative strategy. Hopeful execution. And then… nothing. Sometimes, it results in denial, and other times, it results in doubling down on the failing strategy, hoping a little more elbow grease will make an impact. I see this often with credit union leaders who reach out about their marketing. It’s Read More »
The Pandemic of Nice is Not Working Out
I’ve had a recurring theme in conversations with credit union leaders this year. “Bo, I just don’t know if all my staff is on board. I don’t know if they are a good fit to take us to the next level, where we’re going.” OUCH! That is a touchy conversation. But the fact that these credit Read More »