MILWAUKEE, Wis.—When members never set foot in a branch, they often never put the credit union first in their thoughts. If a credit union wants walletshare among new members, it means a new emphasis on education and communication is required, with both members and employees, according to one person.
RANCHO CUCAMONGA, Calif.—Credit unions that want to grow marketshare must start taking a more holistic, consultative approach, according to Samantha Paxson, chief marketing officer with CO-OP Financial Services, who shares her thoughts in this CUToday Q&A as part of our “100 Million Members: Now What?” series.
SAN ANTONIO—The success credit unions have had in indirect auto lending is impacting walletshare, according to one person.
Mark Hein, CEO of SWBC’s Financial Institution Group, told CUToday.info that many CUs will have to turn to outsourcing as one means of getting that new member share. Hein shared his thoughts as part of the CUToday.info series, “100 Million Members: Now What?”
LOMBARD, Ill.—Seeking greater walletshare from new members? Then make it a strategic priority and measure it on strategic scorecards. That’s the advice of Bill Handel, SVP-Research of Raddon Financial Group here, who shared insights into what credit unions can do grow walletshare as part of the CUToday.info series “100 Million Members: What Now?”
ST. PETERSBURG, Fla.—Rates and yields? Credit unions have that down pat. Selling those depositors and borrowers on other products? Not so much.
BROOKFIELD, Wis.—Credit unions that are not very good at capturing members’ walletshare tend to share many of the same characteristics.
LAKE MARY, Fla.—When it comes to onboarding new members, it isn’t just about identifying those likely to buy new products and services. Instead, it needs to be about identifying members who will be profitable contributors to the credit union, according to one analyst.
WOODBURY, Minn.—Ideal Credit Union’s new advertising campaign aims to help the local community understand “what’s in it for them” when they join the credit union.
DOTHAN, Ala.—Five Star CU, a credit union in line to become the first-ever to purchase two banks, says it will look at buying even more FDIC-insured institutions.
SAN ANTONIO—The largest indirect auto lender among credit unions says there are four steps that are critical to turning those indirect members into active, participating accounts.
