The Credit Union Sales and Marketing Podcast

In this episode of the Sales and Marketing Podcast, hosts Bill McKenna and Paul Robert engage with Susan Toalson McGinty, the SVP Chief Growth and Advocacy Officer at the University of Illinois Community Credit Union. They discuss the multifaceted role of credit unions, emphasizing the importance of advocacy, differentiation from traditional banks, and the integration of technology in enhancing member engagement.Susan shares insights on building a culture of “do more good,” the significance of purpose in business development, and the challenges faced by smaller credit unions in balancing multiple responsibilities.Takeaways·      Advocacy is essential for credit unions to grow and educate legislators.·      Understanding the differentiation between credit unions and banks is crucial.·      A culture of 'do more good' can drive member engagement.·      Technology plays a vital role in modern credit union operations.·      Building relationships is more important than transactional interactions.·      Purpose-driven business development leads to sustainable growth.·      Integrating business development with retail teams enhances overall success.·      Empowering staff to represent the credit union is key.Keywords:#creditunions #businessdevelopment #advocacy #technology #financialservices #memberengagement #marketingstrategy #communitygrowth #financialliteracyHosts:Bill McKennaPaul RobertGuest:Susan Toalson McGinty

In this episode, Bill McKenna and Paul Robert discuss the critical role of data in enhancing member experiences within credit unions. Anne Legg, founder of Thrive, emphasizes the importance of understanding member friction and leveraging data to create personalized solutions.

The conversation explores the need for data literacy, proactive strategies, and cross-functional collaboration to improve member relationships and retention. The hosts also touch on the impact of AI and the necessity for credit unions to adapt in a rapidly changing financial landscape.

Takeaways

·      Data is essential for improving member experiences.

·      Understanding member friction is key to effective data use.

·      Credit unions should focus on deepening relationships with existing members.

·      Data literacy empowers staff to make informed decisions.

·      Proactive data strategies can anticipate member needs.

·      Education and training are crucial for effective data utilization.

·      Cross-functional collaboration enhances member service.

·      AI can personalize member interactions and offers.

·      Credit unions must adapt to remain relevant in a competitive market.

Keywords:

#creditunions #datastrategy #memberexperience #dataliteracy #financialservices #ai #memberrelationships #data-drivendecisions #financialeducation

Hosts:

Paul Robert

Bill McKenna

Guest:

Anne Legg

Thrive

Exploring the Two Types of Marketing

In this episode of the Credit Union Sales and Marketing Podcast, hosts Bill McKenna and Paul Roberts discuss the two primary types of marketing: product/service marketing and brand marketing or magnification.

They explore the importance of brand loyalty, emotional connections with members, and the impact of life events on member engagement. The conversation emphasizes the need for credit unions to create a strong brand presence through community involvement and storytelling, as well as the significance of employee engagement in representing the brand.

The episode concludes with a discussion on the role of online reviews in shaping brand perception and the importance of having a unified marketing strategy.

Takeaways

·      There are two types of marketing: product/service and brand.

·      Brand loyalty is crucial for retaining members.

·      Emotional connections with members drive engagement.

·      Life events trigger the need for financial services.

·      Community involvement enhances brand perception.

·      Storytelling is a powerful marketing tool.

·      Employee engagement reflects the brand's values.

·      Online reviews can significantly impact consumer decisions.

·      A unified marketing strategy is essential for success.

Keywords:

#marketing, #brand loyalty, #brandmarketing, #productmarketing, #creditunions, #memberengagement, #communityinvolvement, #storytelling, #employeeengagement, #onlinereviews, #financialservices

Hosts:

Bill McKenna

Paul Robert

3 Growth Goals for Credit Unions Under $500 Million

In this episode, Paul Robert and Bill McKenna discuss the critical importance of growth for credit unions, focusing on attracting new members, retaining existing ones, and deepening relationships. How does impact credit union under $500 Million in assets?

They explore the challenges faced by smaller credit unions and emphasize the need for personalization in sales and marketing strategies. The conversation highlights the significance of aligning sales and marketing efforts to create value and foster meaningful member engagement. Ultimately, the hosts stress that a clear plan of action is essential for executing growth strategies effectively.

Takeaways

·      Attracting new members, retaining existing ones, and deepening relationships are the 3 key growth metrics.

·      The credit union movement must focus on net growth, not just new memberships.

·      Smaller credit unions face unique challenges in achieving growth.

·      Personalization in member interactions enhances relationship building.

·      Sales and marketing alignment is crucial for success.

·      Creating value through conversations is vital for member engagement.

·      A clear plan of action is necessary for executing growth strategies.

·      Understanding member needs leads to better service offerings.

·      Frequency of communication is a driver of success.

Keywords

#growthstrategies, #memberretention, #deepeningrelationships, #financialservices, #relationshipbuilding, #personalization, #memberengagement

Hosts:

Bill McKenna

Paul Robert

Leadership's Role in Credit Union Success

In this episode of the Credit Union Sales and Marketing Podcast, Paul Roberts and William McKenna discuss the critical role of leadership in credit unions, focusing on the importance of strong leaders in navigating industry changes.

They are joined by Tammy O'Hara, an Executive Benefits Consultant, who explains the significance of executive benefits like SERPs in retaining talent and ensuring smooth succession planning.

The conversation also highlights the need for credit unions to prioritize marketing and technology integration to foster growth and adapt to rapid changes in the financial services landscape. They also discuss the key qualities needed in strong leaders, and how sales and marketing strategies have evolved over the years. The discussion emphasizes the need for education and understanding within credit unions, both for leadership and board members, to ensure effective decision-making and community engagement.

Takeaways:

·      Strong leadership is crucial for navigating industry changes.

·      Executive benefits like SERPs help retain key talent.

·      Succession planning is essential for smooth transitions.

·      Cultural fit is important when hiring new leaders.

·      Turnover at the executive level can be costly.

·      Key personnel beyond the C-suite should be valued.

·      Compensation should reflect the value of leadership roles.

·      Understanding the risks involved in leadership decisions is vital.

·      The board's role in leadership retention is crucial.

Keywords:

#credit unions, #leadership, #executivebenefits, #SERPs, #successionplanning, #marketing, #technology, #growth, #culture, #boarddynamics

Hosts:

Bill McKenna

Paul Robert

Guest:

Tammy O'Hara

In this episode of the Credit Union Sales and Marketing Podcast, hosts Bill McKenna and Paul Robert welcome Jim Wrigley from Deep Target. They discuss the importance of deepening relationships with credit union members through personalized marketing strategies.Jim explains how Deep Target utilizes AI to analyze member data and deliver targeted messages, enhancing member engagement and driving sales. The conversation also covers the significance of frequency in communication, and the integration of marketing tools within credit unions. Jim emphasizes the value of guaranteed results and the need for credit unions to leverage their digital real estate effectively.Takeaways:·      Personalization is key to effective marketing strategies.·      Sales should be viewed as helping members, not just selling.·      Frequency in communication drives member engagement and success.·      Digital real estate on banking platforms is underutilized.·      AI can identify the next best product for members.·      Credit unions often lack the resources for complex marketing integrations.·      Building a strong brand requires more than just competitive rates.Hosts:Bill McKennaPaul RobertGuest:Jim Wrigley – Deep Target

In this podcast episode, Bill McKenna and Paul Robert discuss why they decided to start this podcast and some of the essential strategies for credit unions to grow and thrive in a competitive market. They emphasize the importance of membership growth, particularly among younger demographics, and the need for credit unions to deepen relationships with existing members.

The conversation highlights the critical alignment of sales and marketing efforts, something that is vitally important to success. They also discussed the creation of opportunities through effective marketing, and the necessity of preparing staff for upcoming campaigns and ongoing internal communications.

The hosts also stress the importance of adapting to changing market dynamics and the role of technology in enhancing credit union operations.

Takeaways:

·      Why they do this podcast.

·      Membership growth, especially among younger members, is crucial.

·      Deepening relationships with existing members.

·      Sales and marketing must work together for effective growth strategies.

·      Understanding market dynamics.

·      Technology plays a significant role in operations.

·      Staff training should focus on sales behaviors, not just service.

·      Preparation for marketing campaigns is vital.

·      Identifying best practices from other credit unions.

Keywords:

#credit unions #growthstrategies #sales #marketing #membergrowth #marketingalignment #customerrelationships #credituniondata #employeetraining #market expansion

Hosts:

Bill McKenna

Paul Robert

Building a Shiny Brand: The Chrome FCU Story

In this conversation, Jasmine Hughes, the Marketing and Community Relations Executive at Chrome Federal Credit Union, shares her journey from news media to the credit union industry. She discusses the significance of Chrome's name, its branding strategies, and the importance of community service as a core value.

Takeways:

• Chrome FCU’s community service focus.

• The name 'Chrome' reflects the credit union's roots in steel production.

• Branding is crucial for member engagement and community perception.

• Employee engagement is fostered through a strong internal culture.

• Marketing is viewed as a strategic function at Chrome.

• Success is measured through community impact and member growth.

Keywords:

#credit union #marketing #community relations #branding #strategicmarketing #Chrome Federal Credit Union #Jasmine Hughes

Hosts:

Bill McKenna

Paul Robert

Guest:

Jasmine Hughes – Chrome Federal Credit Union

In this episode, Bill and Paul welcome Scott McKenna owner of Scaling Creative to discuss the evolving landscape of marketing for credit unions. They explore the importance of video content, understanding target audiences, and the role of influencer marketing.

Scott emphasizes the need for patience in social media strategies and the significance of storytelling in creating impactful community content. The conversation highlights how credit unions can leverage their unique position to engage with their communities effectively and build lasting relationships.

Takeaways:

·      Attention is crucial in marketing; without it, you don't win.

·      Video content is proven to capture more attention than other formats.

·      Understanding where your target audience spends their time is essential.

·      Social media marketing requires patience and a long-term strategy.

·      Influencer marketing can effectively generate referrals for credit unions.

·      Community impact stories resonate more than traditional marketing messages.

·      Quality of video content is less important than the story being told.

·      Engaging younger employees can provide insights into reaching younger audiences.

·      Referrals need to be incentivized to encourage participation.

·      Credit unions have a unique opportunity to showcase their community involvement.

Keywords:

#creditunions #marketingstrategies #video #influencermarketing #communityengagement #socialmedia #business development #referrals #storytelling #audience targeting

Hosts:

Bill McKenna

Paul Robert

Guest:

Scott McKenna – Scaling Creative

www.scalingcreative.com

The Power of Visual Branding in Credit Unions

In this episode, Bill and Paul discuss the critical aspects of visual branding and its importance in creating a strong identity for credit unions. They explore how visual branding goes beyond just logos and colors, emphasizing the need for consistency in messaging and employee training.

The conversation also highlights the significance of onboarding in building lasting relationships with members and the necessity of creating value through effective branding strategies.

Takeaways:

·      Visual branding is often misunderstood as just logos and colors.

·      Consistency in marketing materials is crucial for brand identity.

·      Employee training is essential for delivering consistent messaging.

·      Onboarding is a key opportunity to establish relationships with members.

·      Value-based content is more effective than traditional selling.

·      Brand guidelines should be actively used, not left on a shelf.

·      Every employee represents the brand, consciously or unconsciously.

·      Effective onboarding should involve all departments, not just marketing.

·      Branding efforts must be managed and continuously improved.

Keywords:

#branding #visualidentity #creditunions #onboarding #marketing #consistency #employeetraining #customerengagement #brandmessaging

Hosts:

Bill McKenna

Paul Robert