NASHVILLE, Tenn. — Forget about branding, storytelling or whatever the next marketing trend may be.
According to David Baker, principal of management consulting firm ReCourses Inc., what matters most for credit unions is to think of themselves as not being in the service business but rather the expertise business.
"There are three dry cleaners in my neighborhood and if my dry cleaner ticks me off, then I'll just go to the drycleaner around the corner. The point is that the only time I care about or notice those in the service business is when they screw up," said Baker during the CU Water Cooler Symposium. "If you are in the expertise business that means you are as an institution doing what's right for the consumer even if it means you don't make as much money. So members aren't headed to your credit union just to park their money but because they need answers to something that's important to them."
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
