Wednesday, April 14, 2010

Maintaining Our Edge

I came across a Tweet the other day that startled me. It was a re-tweet from James Lay in Utah, a credit union social media expert. It read:

“Listen up Houston CUs RT @adrienne78 I did not feel a warm greeting by more than one CU in my area but bank smiles and knows my name.”

Could this be so? Are credit unions starting to slip in the gains they achieved during the recent recession?

There’s a saying among surfers that once you climb to the crest of a wave you have to work all the harder to stay there!

Are we working harder to maintain the edge we realized during the past two to three years?

To do so, we have to continually look for new and exciting ways to maintain the buzz about the value credit unions have to offer, not only all the good things we delivered during the recession but the benefits we still can provide today and into the future. We have to do everything we can to hold on to those new members who walked through our doors the last couple of years, deeply frustrated by the behavior of banks.

There should be no doubt among us in knowing that right now the banks are shoveling tons of money as well as sweet, sweet honey — BIG TIME — at consumers to win them back.

Are we just going to sit there?


  1. Absolutely Walt! Credit unions are taking all the good publicity and member growth of the last couple of years for granted. Credit unions didn't got out and try to get attention, but basically they got mainstream media attention because they were the last ones standing. This recognition drove members to their doors. It's great that credit unions are trusted, but if they don't 1) treat members right, and 2) work to keep the media spotlight, they'll have had their 15 minutes of fame until the next crisis. Credit unions cannot rest on their laurels and not pick up the PR yoke or that member growth will die off and even reverse.

  2. Great post Walt and thanks for the reference. I have expanded on your thoughts as well as Sarah's as with comments like this, credit unions are at risk of becoming a financial commodity.