Business Development
Marketing Must Be Seen!
Marketing is not just an expense line; it is a strategic partner as credit unions face challenges adapting to rapidly evolving consumer preferences and technological advancements. By reimagining marketing’s place and purpose, credit unions can attract new members and reshape perceptions among their executives. First, let’s identify what marketing can and cannot control. What marketing…
Read MoreHow Small Credit Unions Can Become Vital
For the past 20+ years, credit unions seeking to grow, have made charter changes to community charters, often from multi-common bond or sole sponsorship charters. The goal was to minimize the perceived barriers to membership. The belief was that if anyone could join my credit union, growth would be unconstrained. In some cases, this was…
Read MoreCuring Procrastination – “Eat the Crust First”
Procrastination is a common challenge that affects people at all levels of leadership. Overcoming procrastination is crucial to achieving maximum productivity, meeting deadlines, getting the important things done, not just the urgent things, and executing strategic success. When I asked ChatGPT to tell me how to “cure” procrastination, its response was no surprise. ChatGPT provided…
Read MoreDo You Want to “Power Up” Your Auto Loans?
Capture the Electric Vehicle Auto Loan Market. The electric vehicle (EV) market is booming, with a surge in consumer interest in sustainable transportation options. Over 2.3 million electric cars were sold in the first quarter, about 25% more than in the same period last year. We expect to see 14 million in sales by the end of…
Read MoreMedia-Driven Hysteria: The Relationship Between Home Buying Demand and Interest Rates
Buying a home is NOT just a transaction but a strategic goal for consumers. That strategic goal is to provide a home to raise a family, build on the promise of generational wealth, access better education for the member’s children, or provide recreational opportunities for the family. With the fundamental objective in mind, I’ll explore…
Read MoreTwelve Steps to Bonding with Your Members
Unlike traditional banks, credit unions have a mission to serve their members, not shareholders. This fundamental difference makes building solid and lasting relationships with their members possible. To make members love their credit union, focusing on delivering exceptional service, fostering trust, and offering financial products that meet their needs is essential. Below, I will explore…
Read MoreShould YOU Consider a Fractional Executive?
To thrive in today’s ever-evolving financial landscape, credit unions must adapt, innovate, and strategically manage their operations. One innovative solution that credit unions are increasingly turning to is the fractional executive. Fractional executives are experienced professionals who work, typically as contract employees, part-time or on a project basis, to provide specialized expertise and leadership. In…
Read MoreDiscovering Your Niche
How Credit Unions Can Identify and Serve Unique Markets Credit unions are known for their community-based approach and member-centric services. While larger banks are designed to cater to a broad spectrum of customers, “being all things to all people,” credit unions can have a distinct advantage by serving specific niche markets that require customized products…
Read MoreEmbedded Finance
Taking banking to where your members live their lives. Embedded finance refers to integrating financial products and services into non-financial platforms or businesses, allowing them to offer financial services seamlessly as part of their core offerings. This concept is gaining traction as technology advances and customer preferences evolve. In a credit union context, embedded finance…
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