X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

MADISON, Wis. – Call it the credit union marketer’s latest old friend, but Master Consumer Information Files play an important role in today’s credit union. According to CUNA’s Credit Union Services Profile Report, 14% of credit unions and counting employ MCIF to segment their membership for target-marketing purposes. “While MCIF can be used for profitability analysis and tracking marketing promotion success,” said CUNA Market Research Director Jon Haller, “this segmentation ability allows credit unions to tailor their marketing messages and realize tremendous cost savings, increased return on their promotional investments, increased service usage and ultimately an improved bottom line.” Generally the bigger the credit union the more MCIF use increases. The report shows that of credit unions with assets under $10 million, only about 5% have a MCIF. The percentage jumps to 35% for credit unions with assets of $50-$100 million, and to over 80% among credit unions with assets of $200 million or more. “Member surveys are becoming an essential tool in today’s competitive market,” said Haller. “Not only do they allow credit unions to evaluate their strengths, weaknesses challenges and opportunities, but they can also be used to segment their membership by financial lifestyle and increase target marketing impact.” For more information about CUNA’s Credit Union Services Profile Report visit www.cuna.org or contact Meg Jelak at 800-356-9655, ext. 4172.

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?

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.