Letter: 'Banking' Should Not Be in Our Marketing
The banks don’t like us using the word “banking,” and quite frankly, neither do we. We’ve got a large talent pool out there. Why can’t we come up with a better description than banking for what our members do when they come visit us?
I thought up “money management.” As in, “Why just go to a bank and do banking, when you can go to a credit union and do your money management?” The concept is that credit unions do much more than banks and for the benefit of the member-depositor not the bank. Banking serves banks. Credit unions provide money management.
Probably not the best, but you get the idea. Perhaps someone can come up with a great catchphrase and be the marketing genius of the century for defining what credit unions do with members’ money.
If that resonates, perhaps Credit Union Times can run a contest for the catchphrase to define ourselves better than banking.
We need to be on the offense not defense. And, we need to define ourselves and not let the banks do that for us.
1st Valley Credit Union
San Bernardino, Calif.
Editor’s Note: Please send your ideas to replace “banking” to Managing Editor Donald Shoultz at firstname.lastname@example.org.