Credit Union Marketing Strategy

Credit Union Marketing

Credit union is a small financial service which helps people in how they can save money. It is also called as a member-owned financial institution that provides financial services as other banks are offering.  All credit union collects money from members in a role of saving and interests are returned to the members. Credit union is people helping to other people in a way of saving of money. In credit union, there are several types of loans  that are established to help the members like personal loans, study loan etc. Credit union uses various types of marketing strategies to help their members.

Credit Union Marketing Strategies

Encouraging People

Encouraging people to open savings account is a good marketing strategy for credit union. It should be explained in an easy and understandable manner that how credit union works for people. It is one of the best way to add a member in their membership by encouraging people.

Target Community

Many people may be known to people in a community. So, make a strategy which is based on community so that the people who are in a common bond may discuss their experiences.

Offer Financial Products or Services

Offer financial products or services on cheaper rates as compare to other banks. The main credit union marketing strategy is that what the other banks are offering to people, credit union offers the best and at a low rate service. For example, loan on low interest rate, without taking any fee to create an account. One should provide more competitive products or saving products.

Online Credit Union Services

Online credit union services should be provided to the members on their needs. Facilities should be offered to members on becoming a member of credit union. For example, mobiles, internet or ATM.  This credit union marketing strategy provides online payment, apply online for loan, online money transfer, deposited money online as according to their need.

Work Honestly

Another strategy of credit union is to work honestly for their members. Credit unions should be honest as well as strong for their loyal working and should provide loyal profits to their members.  They should only provide products or services which are based on member’s profile. It is a good credit union marketing strategy to move forward and also help them to grow membership.

Safe or Stable Service

Credit union’s main marketing strategy is to provide safe or stable services to the members. Use only those strategies which are long term and safe for members for their grown membership in credit union.

Photo Credit: http://www.successfulcreditunionmarketing.com/

Photo Credit: http://www.serrasuperstore.com/pages.aspx?p=147709