It's true that social media sites like Facebook and Twitter require credit unions to ensure safeguards: establishing HR policies for employees, protecting against malicious scripts and phishing to name just a few. However, the piece completely ignores the many benefits and realities of social media.
The fact is social media are here to stay. If implemented correctly, credit unions can use it as a tool for managing their brand, engaging members via another touch-point and as a means of collaborating with others in the industry. To support this claim, I would encourage readers to view any number of the comments that accompanied the online version of the Oct. 21 opinion piece [at cutimes.com]. The comments serve as yet another testament to the power of social media and web 2.0.
Credit unions are wise to explore both the benefits and risks of any new venture and that includes joining the social media trend. It may not be a good fit for everyone, but it can present a wonderful opportunity for many. Perhaps a more necessary step in this evaluation should include an analysis of "the dangers associated in not engaging in a social media strategy."
Chris Tissue, Industry Analyst
Callahan & Associates, Washington