With the economy creating new norms, marketing departments havehad to adapt accordingly.

“We believe that with limited resources, going deeper ratherthan broader is a more effective marketing strategy,” said MichelleHunter, senior vice president of marketing and development at the$552 million Credit Union of Southern California. “We are looking toincrease our right touch points and messaging to better serve ourmembers while gaining greater market share.”

Hunter said it's about better leveraging the power oftraditional media and digital media to garner the three Ps –participation, portability and personalization – all while ensuringan exceptional member experience.

The Brea, Calif.-based credit union's focus will be on crossmedia campaigns to communicate more directly and effectively witheach individual member in multiple ways.

With a community charter that serves 106 cities, CU SoCal hasstrategically selected targeted cities rather than use a build itand they will come approach, Hunter said. Working together as ateam, marketing, operations and business development havesignificantly increased the credit union's presence, participationand partnership in specific communities, she added. 

Given that the unemployment rate in California remains high, astricter regulatory environment is in place, and interest rates athistoric lows, like many credit unions CUSC has expanded itsservices to help educate members in a bid to further reinforce itsrole as a trusted financial adviser.

“At the start of the recession, consumers turned to creditunions as a safe haven,” Hunter said. “Today, they are looking formore. They want a financial partner they can trust to provideinformation and guidance.”

Robin McKenzie, senior vice president of marketing andcommunications at Redwood Credit Union, agreed. In 2011, the SantaRosa, Calif.-based credit union hosted an Amazing Savers contest toshowcase ways the $1.9 billion RCU could help people improve theirfinances.

Five member teams competed to transform their finances for achance at winning $10,000. Each team worked closely with afinancial coach from RCU to learn more about everything frombudgeting, financial planning and setting up an emergency fund, tocredit report review and clean up. Not only did all five teamsimprove their credit scores and refinanced debt to improve theircash flow, but local consumers, as they followed the contestants'journey through online blogs, were encouraged to use the same toolsand resources offered by RCU to transform their own finances bychanging the way they think about managing money.

A major area of focus is educating members about the value ofmoving their entire relationship to the credit union, not justchecking and deposit accounts, but loans and credit cards,insurance and investments, said McKenzie of RCU's marketingstrategy. 

“Like many California communities, our area was affected by manyof the economic challenges of the past few years includingunemployment and underemployment, property devaluation anddecreased consumer confidence,” Hunter said. “We worked veryclosely with our members to help them right-side their finances sothey could keep their homes and cars, and find financial wellness.Our messaging has focused on helping people to refinance and save,and to come to us for help in improving financial health.”

By helping members reset the way they think about money, it hashelped many survive the challenges of the recession, Hunternoted. 

One of the goals of its 2011 Amazing Savers Contest was toshowcase the financial wellness tools and resources available andhow using them can make a real difference in improving members'financial outlook.

RCU has also played up its local ties by partnering with othercommunity-based banks and credit unions. The Bank Local programencourages consumers and local businesses to bank locally and keeptheir dollars in the community. Local banks and credit unions havepooled their resources to holistically promote the benefits ofbanking local.

“I think it sends a very strong message to consumers to takeadvantage of the benefits of banking locally and keep moneycirculating within the local community,” McKenziesaid. 

The credit union was one of the first local businesses to becomea member of Sonoma County GoLocal, a network of locally ownedbusinesses, residents, nonprofit organizations and governmentagencies working together to build a thriving, local economy, whichformed in 2009. For other credit unions looking to do this in theircommunities, McKenzie recommended checking to see if theircommunity has a local Business Alliance for Local Living Economiesor an American Independent Business Alliance and working with themto create a similar program.

Bucks First Federal Credit Union in Bristol, Pa., has foundsuccess navigating the recession with a renewed focus onrefinancing auto loans.

“Auto loans have been a top priority for us for the past fiveyears, however, we go about getting them in a different way,” saidHilary Reed, vice president of marketing at the $85 million creditunion. “Since most consumers are in the dark when it comes to theirability to refinance their vehicle, it takes a lot of educating onour part, but it usually pays off big time.”

Every year from May to August, Bucks offers to reduce members'current rate by 2% if they refinance their vehicle. The campaigncontinues to generate a lot of word of mouth buzz, Reed said. Byoffering the opportunity annually, members have come to expect itand ask for it each summer. During the off months, the credit unionmails a bimonthly auto recapture letter with a 1% rate reductionoffer to those members who bring their auto loan back to Bucks.

The auto recapture is a great program because it specificallytargets those members who recently purchased a car. It also offersto lower their rate right away while their car purchase is stilltop-of-mind, Reed said.

“For the most part, the only thing the economic turmoil haschanged for us is the extreme need for extra income. We focused onnon-interest income in 2011 and were able to recoup some of thecost of the [National Credit Union Insurance Fund] stabilizationthat we have to put out each year,” Loan income is more importantthan ever because you can only go so far with non-interest incomebefore your members will feel fee'd out.”