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MADISON, Wis. – Target marketing is hot this year and MEMBERS Marketing Source, a division of CUNA Mutual Group, has launched its latest offering-the Member Profile Analysis. MPA provides a profile of credit union membership by such factors as age, income, homeownership, marital and parental status and available home equity by using membership data credit unions already have. “A combination of research and conversations with credit unions prompted this solution,” said MEMBERS MS Member Profile Analysis Marketing Manager Teresa Peach. “It is easier for marketing departments to look at their membership as a whole then break it down into specific segments so that they can maximize profits in key growth areas while retaining and expanding member relations.” Peach says the tool takes member segmentation to another level and looks at the following seven life-stage segments: * Tomorrow’s Borrowers – Representing the youth in the credit union membership, this group’s needs are unique and through education loyalty is built. It is important for credit unions to make sure this segment understands the benefits of credit union membership. * Getting Started – This group is identified as the 18-24 year olds and they are viewed as “convenience one-stop shoppers.” Credit unions should tailor marketing messages to emphasize instant gratification and use straight talk when discussing their products. * Developers – This is the typical age group 25-34 and can be sub-segmented based on higher incomes and whether they are parents or not. Typically this group is educated, tech-savvy and first-time homebuyers. When advertising to them media should be the delivery vehicle to let this group know how the credit union came up with the pricing because price is very important to this group. * Builders – In the age range of 35-44, they are homeowners, single/married parents with dual household income. They are generally one-stop shoppers and are willing to pay for help. This group is impatient and looking for a financial institution to meet their revolving needs. Credit unions should market their full range of services and focus on education with an emphasis on showing how the whole family benefits from membership. * Empty-nesters – As the name suggests this group’s children have left home and the parents have a young attitude. They cherish ideas, want to retire early and have the highest household incomes. Marketing strategies should promote financial guidance, plans for retirement and reflect healthy active lifestyles. * Pre-retirees- Between the ages of 55-64 this affluent, educated, health conscious group is seeking comfort and is viewed as more materialistic. They have a broad range of interests and many may be responsible for parents so they are looking for advice. Messages should be tailored to meet their need for high-level personal service and information on insurance products including long-term care insurance. In addition, credit unions should communicate life planning seminars and market the Internet as a convenience for them. * Retirees – Over the age of 65 this group is considered “survivors” and trends to be idealistic, frugal, loyal, and less inclined to change. Credit unions should highlight any senior programs, discounted programs and personal services to meet this group’s needs. Once all the member data is entered and sorted, MEMBERS Marketing Source then provides credit unions with a detailed analysis identifying the next step of marketing strategies, implementation, and ongoing consultations. According to Peach, the program’s cost varies based on implementation efforts. Stillwater, Oklahoma-based University & Community Federal Credit Union has used the program for a year and it helped identify opportunities for car loans. According to U&CFCU Marketing/Member Services Vice President Ron Davis, responses to the targeted direct mail campaign and subsequent loans booked exceeded expectations. “It just helped us understand the make-up of our membership and influenced our decisions on where we spend our marketing dollars,” said Davis. [email protected]

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