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Do This ONE Thing to Get Your Credit Union Marketing Unstuck

Bo McDonald - Your Marketing Co
Written By: Bo McDonald

“Our credit union is the best deal in town, but we’re not growing members!”

“Why are these other credit unions growing, and we’re not?”

I cannot stress enough the importance of building your credit union around your ideal member or affinity group. But first, how do you identify the right ideal member?

“Millennial with a college degree, a credit score of 700 or above, and household income of $60,000 or more” is not an ideal member. That’s a great persona, but it’s difficult to build a strong credit union brand around such a vague and vast group of people. As you think about your ideal member, think about affinity groups in your market that need your credit union.

What are affinity groups?

  • Porsche drivers are an affinity group.
  • Backpackers are an affinity group.
  • Every sports team has fans, translation: an affinity group.
  • Animal lovers are an affinity group.

Columbine Federal Credit Union has successfully grown its credit union around motorcycle riders and enthusiasts. The credit union marketing messaging and visuals are designed to appeal to motorcycle riders, with specific products and services designed around the needs of those wishing to purchase, finance, and insure their motorcycle. It’s an authentic appeal that has successfully changed the trajectory of the credit union.

Atlantic City Federal Credit Union in Wyoming is successfully growing around the outdoor and backpacking enthusiasts in the Lander community. With a growing population moving to the area who desire to spend time in the great wide open and tackle the rough terrain, the CFO (who is an avid hiker and backpacker) is able to authentically connect the credit union brand to that affinity group.

I scribbled the words of a radio sales trainer many years ago that I keep close:

“Identify a tribe. Develop the tribe. Market to the tribe.”

Who is your affinity group – your tribe? What can your credit union be authentically passionate about to connect with an associated tribe? As a credit union focused on serving healthcare workers you are several steps ahead of your peers in identifying your tribe. You already have one! Now you just need to refine your strategy and messaging to be exceptionally relevant to them.

We’ve helped many credit unions get unstuck by finding their tribe and building a community to grow members and loans in a meaningful way. We can do that for you, too. We’re just an email away.

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From strat plans to rebrands, YMC President and CEO, Bo, is passionate about helping financial institutions come up with a winning formula. If you’re ready to go beyond the SWOT, you can email him at bo@yourmarketingco.comcreate new email.

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