Its branches may be closed, but Centric Federal Credit Union wants members to know it's still a dependable source for financial information.
In April, the $235 million asset credit union in West Monroe, La., launched a weekly video series featuring financial tips and information related to the coronavirus (COVID-19) pandemic.
“Our motto and mission is to help our members ‘Live Better,’” says Kelli Green, vice president of marketing and member engagement. “We wanted this to be timely. We wanted it to be weekly. And we wanted to make sure we were on target with what we’re doing in our centers and online in response to this pandemic.”
The videos, which are released in weekly emails and social media channels, have included information about scams, federal stimulus check payments, and how the credit union can assist members with their financial needs during the pandemic.
They also address other tips related to the pandemic, including hand washing, social distancing, and other guidelines.
Creating the videos wasn't a big expense, Green says. The marketing staff use the video cameras built into their computers and the credit union’s Zoom account to record.
“It’s been a way for us to maximize our resources and minimize the dollars spent,” Green says. “That’s huge.”
Centric Federal chose video because that medium has gotten the most engagement from members during previous campaigns, she says.
‘We wanted this to be timely. We wanted it to be weekly. And we wanted to make sure we were right on target.’
In April, the credit union added 309 new members. It typically sees 10% membership growth annually, Green says.
There has also been increased traffic on its website, more phone calls at the contact center, and growth on its Instagram and Facebook accounts.
“We’re a resource,” she says.
Centric Federal’s marketing staff will continue the video series once the initial pandemic response declines and credit union operations begin to return to pre-COVID-19 levels.
The content of the videos will shift to general financial tips, such as savings and budgeting, says Casey Messer, business development and community partner coordinator.
“We’re going to continue doing this,” Messer says. “We’ve learned what it means and how important it is to our members.”