Credit Union Marketing: Helping to Get the Word Out

As a result of the credit crisis in 2007/8, mis-selling of PPI and some high profile data breaches, it is fair to say that the banking sector is not held in high regard by customers in the UK.

The financial services industry gained a reputation as one of excess, where profits and bonuses come ahead of doing what is best for the public.   

Thankfully there is one area of the financial services industry that is bucking this trend; Credit Unions. These non-profit organisations help to provide a useful community service, and an alternative to profiteering bankers, or illegal loan sharks.

According to the Money Advice Service Credit Unions typically have three main goals:

  • To provide loans at low rates
  • To encourage all members to save regularly
  • To help members in need of financial advice and assistance

Credit Union MarketingAs a result, loans to customers from credit unions increased by 6% in 2017. Some local councils are even encouraging constituents to seek out credit unions to help resolve their financial troubles.

The Growth of Credit Union Marketing

As the need for Credit Unions has grown, digital marketing has become an essential tool to inform local communities and groups about their offering. Digital marketing is a very cost effective method of reaching a targeted audience and sharing information with them.

Some of the options available include:

  • Content marketing – Blog posts and articles are a great way to provide valuable information to people about fiscal responsibility, and the options available to them should they run into money troubles. Sharing this information is a useful service and helps to build trust with potential members.
  • Paid Ads – Paid marketing can be a great way to reach new members quickly, expanding the strength of the union. Cost per click models mean that you only pay when someone clicks on your ad and lands on your site.
  • Social media – Sites like Facebook and Twitter allow you to provide real-time updates on the union and interact more directly with customers on a personal level. They also give the option for members to “share” and “like” content, helping to spread the message further.  

Partnering for Success

While many Credit Unions recognise the potential benefits of digital marketing, they might not have the expertise required to build a strategy in house. At AsOne we make the process of articulating and executing a credit union marketing strategy easy, bringing deep technical and commercial expertise of what works and what doesn’t work from a wide variety of industries.

Our philosophy has always been one of putting people first and giving back to the community, as reflected in the range of activities we participate in outside of our core business. These values align nicely with the goals and aspirations of credit unions and we always enjoy seeing these organisations thrive.

If you’d like more information on the most effective Credit Union marketing techniques, or advice on how to get started, don’t hesitate to get in touch and speak to one of our digital marketing experts. You can find all the contact details on our Contact Us page.

Enjoyed this post? Why not read our previous blog posts: Embracing Digital Marketing For Manufacturing Industry Incumbents & Fine Tuning Your Construction Marketing Strategy.

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