MADISON, Wis. (11/19/14)--The CUNA Marketing and Business Development Council discusses a broad range of strategies that can bolster credit union business development in a new white paper called "Blueprint for Member Growth: Creating a Strategic Business Development Plan."
The paper pulls from four case studies that show how business development can offer credit unions an efficient and cost-effective way to introduce the industry to prospective members--and how it can benefit them.
The paper aims to "connect the credit union tradition of member service and education to new challenges in serving a geographically, demographically and psychographically diverse membership," while also differentiating credit unions as financial partners to select employer groups and their employees.
The strategies to ramp up business development include:
"In short, business development can provide a veritable matchmaker to arrange a low-risk, high-value introduction to prospective members who likely don't know what your credit union has to offer," the paper said. "In CUNA's 2014-15 National Member and Nonmember Survey, seven in 10 respondents who don't belong to a credit union said they know little or nothing about the movement."
CUNA Council members are eligible to receive complimentary copies of this white paper online at www.cunacouncils.org.