Credit Unions Urged to Update Information, Connect With Potential New Members

With the purchasing power of millennials on the rise, credit unions find themselves constantly wading through the white noise of how to reach the growing and increasingly influential group. Conversely, 84 percent of those polled for a recent study reported that they would value advice or guidance when it comes to financial decisions—indicating the potential is there for a strong relationship with credit unions.

But one primary snag appears to lie in the way: education. A comparable 2015 study of millennials from Filene Research Institute, listed a lack of familiarity as the number one reason millennials don’t use credit unions.

Millennials are a leading example, but only one example, of how many credit unions are looking to expand membership: starting out with defining the credit union difference to an audience not entirely sure where to start.

This week, Northwest Credit Union Association member credit unions likely saw a message from Kaitlin Ramos, NWCUA Program Manager, urging them to provide up-to-date information to the searchable database at www.asmarterchoice.org. The listing gives consumers a quick, easy way to locate a credit union near them—bringing a digital pathway to the human connection of joining a credit union.

“It’s a great consumer-facing tool that allows credit unions to stay relevant in their communities and reach potential members with very little time investment,” Ramos said, cautioning the importance of keeping their information up-to-date.

“It’s only as good a tool as the data it draws from, so it’s key that our members keep it current.”  

A recent paid media campaign saw more than 7,000 direct click-throughs to ASmarterChoice.org by individuals interested in learning more about credit union membership.

The goal is for every Northwest credit union to have an updated listing by May 27. Credit unions can access the admin site at http://www.asmarterchoice.org/client/cufinder/administration. Ramos added that any credit unions unsure of their username or password to access their listing can contact her directly, at kramos@nwcua.org or 503.350.2208.

Questions about this story? Contact Eric Horvath: 503.350.2222, ehorvath@nwcua.org.

Posted in NWCUA.