Marketing
Five Steps to Creating a Digital Culture
When asked “In the past year, which method did you use most often to manage your bank account(s)?” consumers responded as follows: Mobile (apps on smartphone or tablet) – 45% Internet/Online (Laptop or PC) – 27% Branches – 14% (Oct 31, 2022 – American Bankers Association) This statistic says a lot! Mobile utilization is the preferred method…
Read MoreThe Seven Steps to Becoming an Innovative Credit Union
As the financial landscape evolves and becomes disrupted, credit unions face the challenge of staying relevant. To maintain relevancy, innovation becomes a must-have if the organization is to meet the changing needs of its members. Embracing innovation is vital for credit unions to thrive. But innovation, for innovation’s sake, is not helpful. All innovation must…
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 MoreSituations a Credit Union Should Use a Fractional Executive
Credit unions often face unique challenges that require expert guidance. In many cases, hiring a full-time executive may not be feasible or necessary. This is where fractional executives come into play. A fractional executive is an experienced professional who provides their expertise part-time or temporarily. The following are situations in which a credit union should…
Read MoreLeadership Requires INTENTIONAL Active Listening
Good News: Active Listening is a Learned Skill In a fast-paced and increasingly remote and digital world, communication has taken various forms, from texting and email to video calls and social media. With the rapid evolution of our work environment, communication needs to be seen in the prism of the art of active listening. We…
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…
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