When a growth mindset takes root, the results can be amazing, Executive Director of CU Awareness Chris Lorence wrote Friday in Credit Union Times. Lorence says that mindset has led to the growth of the Open Your Eyes to a Credit Union® campaign within the credit union movement.
“For over 1,000 credit unions, two system partners and CUNA, that growth mindset and passion for our movement is what fuels the first and only national campaign to advance broader consumer consideration for credit unions,” he wrote. “Their belief in the campaign’s mission and the long-term objective of creating new credit union die-hards has brought about an amazing – and growing – groundswell among our industry.”
Hesitation and doubt are part of the process, he says, and developing a growth mindset it not a switch to be easily flipped.
“Fortunately for those who want to be fast followers, the Open Your Eyes to a Credit Union campaign creates an opportunity to participate in a deliberate, long-term initiative geared toward helping consumers recognize that credit unions allow them to put their money to work for them and help to build a strong financial future,” Lorence said. “After all – that’s at the core of what every credit union does: Promoting and advancing financial well-being.”
Twenty-one states are now part of the campaign, and 33.8 million consumers have been reached by the message, leading to nearly one million visits to yourmoneyfurther.com, the campaign’s consumer-facing site.
But as Lorence notes, it’s about much more than a compelling message and interesting web content.
“The consumer ultimately makes the choice to join because of our reputation as the best financial partner that consumers can rely on,” he says. “Deep down, consumers know this, and that’s why 96% say they’re highly satisfied with their credit union, according to a survey of Consumer Reports members.
“But much like our stellar reputation, the path to exponentially expanding our market share won’t happen in a year or with a single campaign. It will take more than the pioneers we’ve seen in our first 21 states joining the initiative,” Lorence adds. “It’ll take a collective shift in mindset to ensure that voices from credit unions of every asset size and all fields of membership share the credit union difference with consumers.”