In a world seemingly dominated by commercial banks and other financial behemoths, credit unions stand as a unique and enduring pillar of financial stability and community empowerment. This year marks the 75th anniversary of International Credit Union Day, recognizing the history of the credit union movement and reflecting on its achievements and the shared member experience. Born from the need for economic solidarity and access to financial services, credit unions serve as a testament to the resilience of cooperative financial institutions.
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Digital service and temperatures are heating up as credit unions leverage technology to provide their members with seamless banking experiences to match the sunny vibes of the season. From mobile banking apps that allow easy access to financial services on the run—even at the beach—to online loan applications that expedite the borrowing process, credit unions riding the digital wave will ensure their members can make the most of their summer adventures.
I recently had the opportunity to attend Credit Union National Association’s (CUNA) Governmental Affairs Conference (GAC) in Washington, D.C. The event is the credit union industry’s premier event bringing together leaders from across the movement to rally around a united case – to tell policymakers how their lawmaking affects credit unions and their more than 130 million members.
At the beginning of November, I attended VentureTech22 in Frisco, Texas. The show aims to drive digital transformation and innovation in the credit union industry, giving fintechs a platform to present their technologies to an audience of credit unions, credit union service organizations (CUSOs), credit union leagues and league service corporations, as well as fintech investors.
The 2022 World Cup is quickly approaching, and many soccer legends are participating in their final world cup games. One of them is Lionel Messi—a soccer (or football, for those not in the U.S.) professional that has inspired millions of soccer fans around the globe.
Although reports indicate that the U.S. produced 528,000 jobs in July, those paying attention to recent headlines are well aware that the economy is on the cusp of another recession. Inflation is at its highest peak in 40 years, and tightened rates from the Fed pose a threat as we look to 2023.
We all know the credit union philosophy is “people helping people.” Credit unions across the country and worldwide are committed to supporting their members and communities by doing whatever it takes to lend a helping hand. Many credit unions regularly and freely give praise and recognition by sharing a member shout-out or a community spotlight. Something they’re not always so quick to do? Brag on themselves.
There is no better time than the present for credit unions to establish their presence in the virtual world and position themselves above the competition. As society continues to embrace all things digital, the metaverse has emerged as a promising digital avenue, providing a network that merges physical and virtual worlds and is intertwined with social connection.
If your fintech or business deals with credit unions, the Credit Union National Association’s (CUNA) Governmental Affairs Conference (GAC) should be on your list. Over 4,000 attendees made the trip to Washington, D.C. and hundreds of exhibitors were ready to share their technology, form meaningful connections – and finally, collaborate in person.
Key marketing strategies focus on member data, increasing online brand presence and leveraging social media.
The proliferation of financial service channels has fundamentally changed the way credit unions approach marketing to members and prospects. No longer can marketing strategies be based simply on engaging and friendly in-branch promotions.