Want to encourage member loyalty and also encourage members to conduct more of their financial business at your credit union?
Then send advocacy-related messages to your members, concludes a 2014 study by CUNA’s Member Activation Program (MAP).
Through advocacy messages, “many members are reacquainted with the values that brought them to a credit union in the first place,” says Richard Gose, CUNA’s chief political officer.
The MAP initiative focused on more than 70,000 members from two credit unions: University Federal in Austin, Texas, and CommunityAmerica in Lenexa, Kan. The members received emailed advocacy messages related to the Don’t Tax My CU campaign.
Subsets of the membership received different emails that varied in four ways:
These findings drive home a key point, Gose says: Get your members to think of themselves as members, not customers. “That’s what makes them more active,” he says, “and want to do more business with you.”
Credit unions participating in MAP receive turnkey materials from CUNA, which they then wrap in their own branding.