Sure, there are challenges, but overall, this may be a greattime to be a credit union marketer.

“What occurred in the last three years created the ripestopportunity credit unions have ever seen,” said Mark Weber, president/CEO of marketing/brand strategy firmWeber Marketing Group in Seattle. During the the financial collapse the Lehman Brothers, Washington Mutual, andmany of the largest banks were “shooting themselves in the footover fee-based policies,” said Weber. “Just all we knew andbelieved in was falling all around us.”

The question is, in the fallout, will this be the credit unions'time to show they are the good guys, Weber wondered.

“Which organizations and leagues will capitalize on the lack oftrust and sentiment change, step into that trusted resources roleto bring focus, resources and energy to position the credit unionindustry?” Weber asked. “There are a number of credit unions doingit really well and I'm thrilled about that. It's not about size butpouring your energy on your brand and executing it.”

In terms of the competition, he views it in terms of who thecredit unions steal market share from and who outcompetes them.

“The first answer is easy, as there are three big banks withtargets around them,” Weber said. “Those out-competing you becauseof brand relevance are attractive and distinctive – thoseorganizations, like Ally Bank or ING, grow at phenomenalrates.”

Weber said credit unions also have to be cautious in the mobilewallet arena so that they don't get pulled apart from theirrelationship with consumers.

Sue Woodard, CEO of Credit Union Toolbox, an automatedmarketing solutions provider based in Holmdel, N.J., has beenequally optimistic and added that it's time to bust the myth thattechnology is expensive.

“What credit union marketers need to realize is that there aretools out there that could almost take the place of an employee –and they cost so much less,” Woodard said. “Investing in the righttools and yes, you need to research what those tools are, can be acost savings, not wasteful spending.”

She said she would like to see marketers step out of the box alittle more and ask how can they keep communications with membersinteresting. Woodard pointed to quick response codes as an exampleof a missed opportunity.

“QR codes cost nothing. How many credit unions know that? Howmany credit unions are using them,” said Woodard. “Any print ad, orif you're sending out postcards, or even a newsletter that'stargeting potential members, why not offer more info on a Web page,as well as an easy way to access that page, by easily creating a QRcode, and including it on all print communications?”

As far as social media and the ongoing debates on itseffectiveness, Woodard said it should be used to interact withmembers but it's not enough to just have a social media account. Ithas to be done right.

“As Avinash Kaushick put it, social media is like teens and sex– everyone wants to do it, but no one really knows how; and, how todo it right is changing. We're still at the beginning of socialmedia use for business, and at this point, we're all learning fromeach other.”

Woodard suggested looking at what other credit unions are doing,as well as what other businesses are doing, as information is newand constantly changing information. To stay on top of it, creditunion marketers need to look at what's working for other businessesthat actively make social media a part of their strategy, Woodardoffered.

Weber agreed that having a social media strategy is a must, notan option.

“In that strategy is what are you going to do and not going todo – the resources, time, desire, the willingness to accept lack oftangible business results and not say 'wait and see,'” said Weber.“I'm a proponent of strategy and how you're going to do and do itwell. You want active users, not just a number of 'likes;' playingthe numbers game is dangerous.

Weber said credit unions should determine how they will be agreat content provider. While social media is still in its infancyfor the industry that doesn't mean a strategy shouldn't exist forit, he advised.

At San Antonio-based Generations Federal Credit Union, socialmedia is used to reach its middle market via Facebook.

“We see it as a way for people to know the social side of ourorganization and use it to promote what we do in the community,share local happenings, events or deals,” said Ashley Harris,director of corporate communications at the $396 millionGenerations.

“It's a way to show the softer side of our credit union and wecan use that to drive interest by tying it into our overallmarketing efforts, not just using Facebook as a salesoutlet.” 

It's not about going after the next shiny new toy, Harris said,but rather, credit unions should take a measured approach,determine and develop their strategy on this and integrate it so itties back into overall efforts. 

“We can't ignore it any longer. For us, it's a way to reach themedia, our student audience, and we're looking into how to makesocial media a credit union-wide thing rather than just one personor department's responsibility,”