How credit unions can empower members to be their best marketers

Credit union executives constantly ask themselves, “How can I improve our marketing program?” It’s a vital question if you are trying to generate a more positive perception of your credit union within the community and ultimately grow your member base. If you know EPL’s mantra—if you’re not growing, you’re dying—and recognize its importance, then you believe inherently in the necessary role that impactful marketing campaigns can play. While tactical outreach programs are crucial for both promotion and brand awareness, one of the most powerful resources that you have at your disposal is your membership base itself.  

Below, we’ve outlined five ways credit unions can empower members to be their best marketers. 

1. Member experience – Cultivating an environment that produces positive member experiences will naturally encourage them to rave about your credit union. Remember—people want to talk about things they feel good about. A great member experience leads to overall satisfaction, and therefore improved outcomes—something we here at EPL recognize and prioritize. Provide your members with superior service by working with them quickly to resolve any issues and constantly implement touch points throughout the relationship. As credit unions are member-owned, this aspect of your marketing plan is integral to your collective success.
2. Loyalty and rewards programs – Show you members you care by rewarding them when they overcome feats or accomplish something new, and recognize their loyalty to your credit union where possible. According to the National Association of Federal Credit Unions (NAFCU), consumers want discounted or free products more than anything else from these programs, followed by enhanced customer service, free shipping and access to exclusive products or events. Provide your members with these initiatives, and their sentiment towards you is sure to improve.
3. Member appreciation events – Host events to show your credit union members how valuable they are to you. A Member Appreciation Day (or week, if you really want to show your gratitude), is a meaningful touchpoint and reminder that you appreciate them as much as they appreciate you. Even something as simple as offering your members donuts and coffee at your credit union’s branches can go a long way, and will encourage members to speak positively about their experiences.
4. Innovative solutions and products – Credit union members want to feel as if they have the most innovative products to manage their finances. Especially in today’s world, people also want convenience—so give both to your members by providing a robust, functional online banking platform. This will give your members the ability to easily access their finances from anywhere, while allowing them to still feel the trust and comforts of their credit union home—digitally.
5. Educational tools – Empower your members to be fiscally responsible by offering them the educational resources they need. By showing your members you care enough about them to provide financial literacy tools, such as pamphlets or classes, they will deeply value your relationship and become more loyal over time. At the end of the day, it should be your credit union’s mission to help members achieve their financial dreams—and a bit of education can a long way. 

Do you have any other great ideas to help credit unions empower member to be their best marketers? Let us know on Twitter, Facebook or via email at jami.jennings@epl.net!

Jami Jennings

Senior Product Solutions Manager

EPL, Inc.