From turning to YouTube, MySpace and Facebook to becoming a part of the campus culture, credit unions explored new ways to reach the elusive but important younger market by including younger members in the process. With new economic challenges, this year also found credit unions going back to their educational roots and stepping up financial literacy efforts not just in schools but to help members of all ages understand the importance of money management. From savings competitions to reaching out to SEGs to provide their employees crucial financial information, credit unions continued their push to be the financial resource consumers can trust.
Credit unions also took the opportunity to show consumers that they are financial institutions focused on serving members' needs rather than lining shareholders' pockets. An increased presence in partnering and sponsoring local events also helped credit unions stand out from the competition. Some credit unions touted their corporate responsibility as a force for green living, creating microsite communities where members can connect, learn and exchange eco-friendly tips.
Looking ahead, as the economic concerns rise and consumers grow more wary of big banks, wondering who they can trust with their money, experts have said now is the time for credit union marketers to make an even bigger push to spread the message that credit union membership has its privileges.