Would your credit union be missed?

One question I like to ask in strategic planning sessions is this: “If your credit union went away today, would your members truly miss you and mourn the loss of their credit union because it cannot be replaced, or would they merely be irritated and inconvenienced and just go elsewhere?” A typical answer I get is, “Oh, we would be missed, people love our credit union.” And then I say, “Tell me more.” It gets difficult to really define and turns out the real answer is members would just be irritated and inconvenienced. But not in every case though. I recall a $20 million credit union in South Carolina that proudly announced their merger with a $1billion credit union. That little credit union, alone in a sea of over 80 predatory lenders packed within a two-mile radius, was the only source of financial hope for those in the community who needed affordable transportation or a small personal loan for when life happened. It was almost like watching It’s A Wonderful Life playout in real life. As they went away, their 3,000 members were sent back to those predatory lenders because the larger credit union had eyes on jumbo mortgages and yacht loans – not serving the underserved members the original credit union focused on. That story came back to me a few weeks ago. I’ve recently been on a health journey to cut out crap from my diet, which has us doing most of our weekly shopping at Swamp Rabbit Grocery, a small grocer that stocked only local, natural products. Each product is pretty much unique to Swamp Rabbit and couldn’t be found at chain, big box grocery stores. From local produce and meats to freshly prepared meals made from their stock, I could already tell what a turn my health had taken by choosing foods with less chemicals and more natural ingredients. And then Hurricane Helene hit our area… Swamp Rabbit Grocery was flooded and left without power and there wasn’t another alternative that carried the same quality of foods. Swamp Rabbit Grocery wasn’t cheaper. The staff was pleasant enough, but they didn’t hang their hat on offering “good prices and great service.” They differentiated themselves with the types and caliber of products they had. They were missed. I instantly thought about the question I ask in initial meetings with new clients. So, I ask you the same question: Would your members truly miss your credit union and be hard pressed to find another option that offers what you provide, or would they merely be irritated at the hassle of having to move their accounts somewhere else? “Differentiation takes commitment and hard work. Can’t just say it—need to live it, think about it, sweat over it, force it to happen if it’s that important.”  – Jeremiah Barba, “5 Best Quotes on Differentiation from CASE Marketing & Branding Conference”

The Danger of “Authenticity” in Branding

Authenticity is often hailed as the holy grail. Every conversation about building a successful brand strategy begins with the mantra: “Authenticity is key.” But in our quest to be “authentic,” are we actually hurting our brands? Could it be that this obsession with being genuine, without a clear understanding of our market, makes us blend into the crowd rather than stand out? For credit unions aiming to take their brand to the next level, the wrong interpretation of authenticity could mean the difference between being revolutionary or irrelevant. We’re told that members crave authentic interactions and that brands need to stay true to themselves. But what happens when “authentic” becomes shorthand for staying the same, even as the world around us changes? Stagnation: If a credit union prides itself on staying “authentic” to its roots, it may resist shifts in consumer expectations. This can make the brand seem out-of-touch and irrelevant. Cultural Ignorance: Being authentic can sometimes mean missing critical cultural shifts. This is particularly dangerous when serving diverse or emerging markets. A brand may remain “authentic” to its original values but fail to connect with modern consumers who expect inclusivity, personalization, and innovation. In trying to be genuine, credit unions can become boring. Simply saying, “We are a better credit union” is not enough. Conventional messages like trust, reliability, and service quality are expected. If everyone is authentic in the same way, nobody stands out. What unique experiences or emotional connections can you create that make your brand stand out?  Scarcity, Desirability, and Targeting Niche Markets Authenticity can sometimes blind brands to the importance of understanding their audience deeply. Your ideal member is not a monolith. Consumers don’t make decisions based on logic. Understanding the emotional reasons why someone might choose one bank or credit union over another is key to building a brand that truly resonates.  Think about the brands you love. They often thrive not because they are better but because they are different, exclusive, and niche. In banking, the principle is the same: scarcity and exclusivity create desirability.  When every brand is trying to be true to itself, but the narrative is the same, consumers are left confused and uninspired. Remember that emotions are powerful drivers of decision-making. When brands tap into emotions like happiness, surprise, fear, or even anger, they transcend transactional relationships and build lasting loyalty, making their message resonate on a much deeper level. Authenticity without strategy is just noise. In a sea of sameness, simply being “real” won’t save your credit union – it will drown it. The world is moving too fast, the market is too competitive, and consumers are too savvy.  As Vice President of Brand Experience for Your Marketing Co., Frank Allgood works with credit unions to develop strong leaders, create effective training programs, and build powerful brands. Want to connect? Call 864.326.8740 or email [email protected].

What’s wrong with my credit union team?

Ego Is the Enemy is not just a book by marketing expert Ryan Holiday – it’s a truth that applies to almost any organization. For nearly 20 years, I’ve facilitated many credit union strategic planning sessions and worked with hundreds of credit union leaders to help grow their credit unions. What is the most common obstacle to success? Team members with an ego. It shows up in different ways in different people, but ego is always the enemy to the success of your organization. The team member who chooses status quo over necessary change because it is uncomfortable for them, despite being necessary to the organization’s success and survival. The team member who makes the situation about themselves instead of the team. The team member who, for whatever reason, plays the arsonist and becomes the cancer infecting the entire organization’s culture. The team member who dominates conversations with “blah, blah, blah” because of their fragile confidence. Or the team member who chooses not to delegate because (they feel) no one can do that task as good as they can, so the answer for everything eventually becomes “I don’t have time.” Ego is the enemy. In your next meeting, listen with intent to see who is contributing and what they are contributing. Then, reflect on this quote from Les McKeown about what he calls the Enterprise Commitment: “When working in a team or group environment, I will place the interests of the enterprise above my personal interests.” When we (and your team) can say those words and speak truth while saying them, there is not much you cannot accomplish. When we remove ego, we’re left with what is real. What replaces ego is humility, yes—but rock-hard humility and confidence. Whereas ego is artificial, this type of confidence can hold weight. Ego is stolen. Confidence is earned. Ego is self-anointed, its swagger is artifice. One is girding yourself, the other gaslighting. It’s the difference between potent and poisonous. – Ryan Holiday

10 Best Practices to Keep Your Credit Union’s Website from Being a Digital Dinosaur

Is your credit union’s website outdated? Learn the 10 best practices to modernize your site, enhance user experience, improve SEO, and drive member engagement.