MADISON, Wis. (9/13/13)--A new white paper from the CUNA Marketing & Business Development Council offers strategies community-based credit unions can use to meet marketing and business development challenges.
Credit unions are finding that switching to a community-based charter does not necessarily mean automatic growth, according to the paper, "Developing Strategies for Community-Based Credit Unions," which offers suggestions and examples from the industry.
To stand apart, a credit union must find its market niche, the paper suggests. "Credit unions simply cannot be all things to all people," writes the paper's author, Mark Arnold, a credit union brand expert and strategic planner. "As exciting as community charters are, we must learn that trying to please everyone only really results in watering down who we are and what we do best. You must identify this niche market and do all you can to best serve it."
Arnold suggests credit unions use these strategies to identify their market niche:
To download the white paper, use the link.