Even with most credit unions moving to community charters where virtually anyone can join one, there remains additional value by being a member company.
- Becoming a member company costs your company nothing
- Your employees get access to loan rates that are typically lower than what banks offer, while savings rates are typically higher
- Credit unions tend to be more stable than banks
- They provide the customer service of a community bank
- They typically have all of the services of a national bank
- They are a terrific marketing opportunity for your company
A terrific marketing opportunity for your company?
It’s quite simple. Credit unions tend to have very loyal members. Members who have “gulped the credit union kool-aid” are evangelists for their credit union. This halo covers the member companies as well.
The opportunity exists for you to reach out to your credit union business development contact and tell them you would like to market your services to the other credit union members or member companies.
Tell them you want to provide credit union members a special member offer or discount which can be marketed through their emails, on their website and/or newsletter.
The cost of this marketing is minimal, if it costs anything at all, and it gives you access to thousands of people you may not have reached before.
You both win when you gain access to potential new customers.
If you are already a credit union member company, you are halfway there. If not, find one who can best service your needs. To find credit unions in your area check out the NCUA.