We are living through the age of branding, according to Debbie Millman, president, design division at Sterling Brands. "Branding has become key to any message, whether internal or external," Millman said.
Unlike in the past, today people don't look at new brands to communicate ineffable qualifities and associations, they want to know, "How is this going to make a difference in my life?" Millman said. CUs should think about how to communicate their unified brand because even the term "credit union" can be vaguely menacing--"the word 'credit' especially," said Millman--and not enough people know what "credit union" means.
The CFPB released the results of its survey on debt collection Thursday, prior to its discussion on the same topic. The survey, which consisted of 53 questions about first- and third-party debt collection, does not specifically identify credit unions.