Once again, credit unions, through no effort of their own, are finding themselves in a position of strength. We’ve seen it happen recently with the Move Your Money campaign, which as I just saw in the trades, continues to make a dramatic contribution to credit union membership levels, particularly at BECU.
This time around, credit unions are being given another great opportunity to steal the show. The United Nation’s observance of the International Year of Cooperatives is providing credit unions with an ideal opportunity to educate the masses on the fundamental difference between their cooperative business model and that of their banking counterparts who observe a shareholder-based, for-profit model.
Even more important with this observance comes the opportunity for credit unions to dramatically influence the public’s perception of who they are as financial cooperatives. I see it as an opportunity to grow and nurture the credit union brand to a level never experienced before.
But, are credit unions willing and ready to support an effort that promotes a collective identity rather than one that focuses exclusively on their own image and business? Putting all politics and egos aside, such an effort will require all credit unions to speak with a unified voice in a common language the masses can easily understand.
Yes, you’re correct! We’re back to the topic of a national branding campaign. Well, this time around, let’s not kid ourselves.