How Credit Union Digital Marketing Has Changed in the Last 5 and 10 Years—And How CUs Can Adapt

If there’s one constant in the world of credit union digital marketing, it’s change. Over the last decade, we’ve witnessed shifts that have revolutionized how businesses, including credit unions, connect with their audiences. The pace of these changes has only accelerated in the last five years, leaving many wondering: How can credit unions adapt to stay relevant? Let’s take a look back at some key changes in marketing over the past 5 and 10 years and explore strategies to ensure credit unions thrive in this ever-evolving landscape. The Last 10 Years: The Digital Boom A decade ago, digital marketing was gaining steam, but it hadn’t yet become the dominant force it is today. Social media platforms like Facebook and Twitter X were essential tools, but they were still relatively straightforward—post some content, engage with your audience, and call it a day. Fast forward to today, and digital marketing has exploded into a sophisticated ecosystem. Social media algorithms have grown more complex, video content reigns supreme, and pay-to-play is the norm. Credit unions, which once relied on organic reach, now need to allocate budget to sponsored posts and targeted ads just to maintain visibility. Additionally, the rise of smartphones and mobile apps has completely reshaped member expectations. Members expect seamless, mobile-first experiences. Credit unions that embraced mobile banking early are thriving, while those that lagged behind are playing catch-up. The Last 5 Years: AI, Data, and Personalization In the past five years, the credit union digital marketing landscape has undergone another seismic shift with the advent of AI, advanced data analytics, and hyper-personalization. How Credit Unions Can Adapt Adapting to these changes doesn’t have to be overwhelming. Here are some actionable steps to stay ahead: Change isn’t slowing down. The next five years will likely bring even more disruption to the credit union marketing world. By staying adaptable, investing in the right tools, and keeping members at the heart of your strategies, credit unions can not only survive but thrive in this ever-changing landscape. At Your Marketing Co, we’re passionate about helping credit unions navigate these changes and finding ways to educate, engage, and retain the next generation of credit union members. Together, let’s build marketing strategies that honor your mission while embracing the future.

Big Bank Strategies for Boutique Credit Unions

Fancy, corporate bullshittery for the strategy our most successful credit union clients already employ: focusing on a target market, serving them well, and being okay with not being all things to all people. I was recently on a flight to visit a credit union client, and Jim Cramer was interviewing the CEO of KeyBank, Chris Gorman. In terms of marketing strategy, KeyBank is in a weird limbo. It is too big to be a community bank, but far too small to be considered a megabank. Interestingly enough, it’s actually in a sweet spot, according to Gorman. That’s where their “targeted scale” strategy comes in. KeyBank’s “targeted scale” strategy focuses on achieving growth and efficiency by concentrating resources on specific client segments and business areas, rather than pursuing broad, indiscriminate expansion. This approach enables KeyBank to offer differentiated services tailored to the unique needs of its chosen markets, setting it apart from competitors. Gorman emphasizes that growth should be strategic and client-focused, rather than simply increasing size for its own sake. On a recent episode of the Evergreen Podcast, he states, “I don’t think scale just for scale’s sake makes a ton of sense. It would have to have a very high bar strategically.” An example of this strategy in action is KeyBank’s recent $2.8 billion minority investment from Scotiabank. This capital infusion is intended to strengthen KeyBank’s balance sheet and enhance its capacity for growth in targeted areas, such as investment banking, payments, and wealth management. Gorman notes that the investment, “creates greater capacity for growth by enabling additional investments in targeted scale across our franchise and increases Key’s strategic agility.” By focusing on targeted scale, KeyBank aims to deliver unique, holistic solutions and nontraditional services to its clients, thereby enhancing its competitive position in the financial industry. While KeyBank may be much larger in size than HopeSouth Federal Credit Union ($31million), the “targeted scale” strategy has been just as successful for this small, boutique credit union. Located in a rural, South Carolina county filled with predatory lenders and the abandoned branches of banks that deserted the area through the years, HopeSouth continues to fulfill its mission. They continue providing financial hope by focusing on people who need a fresh start with their finances. It has paid off big over the last decade with an average of 2% ROA, double digit loan growth, and steady membership growth. Recently, in their strategic planning session, the board and leadership team committed to doubling down on their targeted scale strategy with some bold decisions and innovative tactics over the next few years. In the interview with Jim Cramer, Gorman summed up KeyBank targeted scale strategy like this: “Know where we win, how we win, and why we win.” In this new year, if you find yourself stuck, perhaps your strategy needs a reset. Through some tough, strategic conversations and finding your own targeted scale strategy, growth is possible. Over the last two decades, we have helped hundreds of credit unions get unstuck and find pathways to sustainable and meaningful growth. We can do that for you, too.

Credit union creative that works: What is it?

Strategy and creative. Two words that have been the centerpiece of accomplishing our vision of helping credit unions avoid unnecessary mergers. First, if you were to ask any member of the YMC team, “What is the most egregious offense you can commit that would get you fired?” The most likely answer you would receive is, “Using a stock photo of a smiling woman dangling keys out of a car window,” or really any dangling keys in a stock photo. Why? It’s a basic violation of good creative: “Predictability is what makes ads sound and look like ads.” So, when it comes to great creative for credit unions, what is it? How do you create it? Good creative will always answer WIIFM, or “What’s in it for me?” Bad ads are about you and your company. Good ads are about your customers and their happiness. Ads filled with “me, my, we,” and “our,” are about you and your credit union. Ads filled with the words “you” and “your” are about the customer and the happiness you want to bring them. “Our rates are unbeatable…” Doubtful. “We’ve been around since…” so have plenty of your competitors. “We offer great service…” who would claim they didn’t? If any of this sounds familiar, you may have more problems than messaging. At YMC, we utilize a seven-step process, each with a specific, corresponding question, that gets at the heart of WHY someone should choose your credit union. I mean really choose your credit union, without the fluff and corporate bullshittery. The final question in that seven-step process: What result does the ideal member want to avoid? What happens if the ideal member chooses a traditional bank? Or a predatory lender? What happens if they don’t choose your credit union? Take the time to list out 5-6 scenarios. If you cannot come up with at least one very specific, gut-wrenching answer, we’ve got some work to do. Make 2025 the year you choose to get unstuck. For almost 20 years now, we’ve used time-tested processes that result in unique strategies to help credit unions get unstuck and begin to see growth. We have room for one more client to join YMC in Q1 in 2025. Is it you?

Closing Out 2024: End-of-Year Credit Union Marketing Essentials

As the year winds down, credit unions have the perfect opportunity to reflect on their marketing efforts and set the foundation for a strong year ahead. The financial industry is constantly evolving and staying competitive means balancing the lessons of 2024 with innovative strategies for 2025. From wrapping up campaigns to planning fresh initiatives, a thoughtful approach can ensure your credit union continues to connect with members, deliver value, and stand out in the crowded marketplace. Let’s dive into how you can wrap up the year with intention and craft a marketing plan that drives success in the new year. 1. Conduct a Year-End Marketing Audit Before you dive into planning for 2025, assess your 2024 efforts: 2. Celebrate Achievements with Members Engage your community by showcasing the impact your credit union had this year: 3. Optimize Digital Channels Ensure your online presence is fresh and functional heading into the new year: 4. Run an End-of-Year Campaign Capture last-minute engagement with targeted campaigns: Preparing Your 2025 Marketing Plan 1. Set Clear Goals for 2025 Establish marketing goals that align with your credit union’s strategic priorities, such as: 2. Deepen Your Member Understanding Refresh your ideal member personas to ensure your campaigns resonate. Incorporate: 3. Prioritize Digital Transformation With digital banking becoming essential, make sure your marketing reflects this shift: 4. Embrace Emerging Marketing Trends Stay ahead by integrating new strategies: 5. Plan a Robust Content Calendar Build a 2025 content calendar that aligns with seasonal priorities, industry events, and member needs. Include: 6. Budget Strategically Review your 2024 spend and allocate resources wisely for 2025. Invest in areas with proven ROI and consider testing new channels or formats to diversify your approach. Final Thoughts: Start 2025 on the Right Foot Wrapping up the year is more than a task—it’s a chance to solidify your credit union’s reputation and build momentum for the future. By reflecting on what worked in 2024 and crafting a thoughtful, member-focused marketing plan for 2025, you’ll be ready to achieve greater success in the new year. Need help creating your 2025 marketing strategy? Let’s collaborate to make your credit union’s goals a reality!

The first rule of successful credit union marketing is…

The first rule of successful credit union marketing that you must remember is: You are inside of your credit union, looking out. Potential members are outside of your credit union, looking in. Your inside-looking-out perspective makes you blind in one eye. Confirmation bias makes you blind in the other eye. You cannot see yourself the way your potential members see you. You imagine they see you based on your mission statement, your policies and procedures, your good intentions, your employee training… You imagine that potential credit union members see you the way you want to be seen. You see those things—you care about those things! Your potential member doesn’t know or see them, not yet. And (GASP!) they don’t care. They have problems. Big problems. They have debt spiraling out of control, causing stress and anxiety. They are living paycheck to paycheck, wondering what to do when that one small emergency inevitably happens, and they don’t have the means to fix it. They worry they will miss their kids’ games, performances, and lives because they have to work overtime to make ends meet. Here’s the hard truth: When you’ve convinced your credit union marketing person to see your credit union the same way you do, that marketing person has nothing left to offer you but flattery—not results. Back in my radio days, this weathered, old ad guy once said something I’ve carried with me to this day: “Our industry is drowning in math and starving for ideas. We need people who can dream shit up. We need impractical, illogical people. We have plenty of data. We need more of the opposite. We have forgotten that the only unique benefits we can provide to clients is imaginative thinking and creativity. Everything else, aside from ideas, they can get somewhere else. Good ideas are good ideas. Things that are entertaining, interesting, and uplifting will always be attractive to everyone.” It comes down to the basic principles of advertising, and business in general. Some thoughts to consider: “Good inventors and designers (and marketers) deeply understand their customer. They spend tremendous energy developing that intuition. They study and understand many anecdotes rather than only the averages you’ll find on surveys.” – Jeff Bezos, Amazon “First principles is kind of a physics way of looking at the world. You boil things down to the most fundamental truths and say, ‘What are we sure is true?’ … and then reason up from there.” – Elon Musk, Tesla and SpaceX “Every moment in business happens only once. The next Bill Gates will not build an operating system. The next Larry Page or Sergey Brin won’t make a search engine. And the next Mark Zuckerberg won’t create a social network. If you are copying these guys, you aren’t learning from them… Indeed, the single most powerful pattern I have noticed is that successful people find value in unexpected places, and they do this by thinking about business from first principles instead of formulas.” – Peter Thiel, PayPal Credit union marketing strategies are successful when we remember these basic principles. Your members aren’t looking for a product or a service. They are looking for transformation. They are looking for a solution. They want a hole in the wall but need the hammer to make it happen. In short: Don’t try to convince your members and potential members to think and feel like you do. Learn how to think and feel like them.

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”

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

Vicinity Unveils New Name and Launches Cutting-Edge Website

Vicinity Credit Union, formerly known as United Credit Union, is excited to announce its official rebranding and the launch of its new, state-of-the-art website. Founded in 1930 within the halls of a Chicago high school by 15 visionary teachers, Vicinity Credit Union has always been more than just a financial institution – it’s a community cornerstone. Originally established as Union Teachers Credit Union, it evolved into United Credit Union in 1986 upon earning a community charter, broadening its reach and impact. As Vicinity Credit Union, the name captures its mission and deep-rooted connections within Chicago’s vibrant neighborhoods. It serves as a renewed commitment to being at the heart of the communities the credit union serve. “Vicinity reflects our mission to be a close and trusted partner in every neighborhood, helping our members achieve their financial goals and build a stronger community together,” said Vicinity CEO Mario Aguirre. As part of this exciting transformation, the credit union launched a cutting-edge website featuring an ultra-responsive design, intuitive interfaces, and the latest in financial technology. Designed by Your Marketing Co., this state-of-the-art platform ensures a seamless online experience, reflecting a commitment to innovation and excellence. Optimized for all devices, vicinitycreditunion.com ensures fast load times and seamless navigation whether you’re on desktop, tablet or smartphone. The user-friendly layout and simplified navigation makes it easer than ever for members to access services, find information and manage their accounts. The site offers enhanced security features, faster transaction processing, and integration with modern banking tools, including applying for loans and services online – a new feature for the credit union. “One of the biggest things for us is financial education,” said Mayra Avila, Vicinity’s marketing and social impact manager. “You can take a quick survey on the website regarding your current situation and receive targeted resources that can improve your finances.” According to Reh Harvey, YMC’s vice president of digital strategy, the primary focus of the new website was functionality and capabilities to provide members with the quickest and most efficient access to service. “Our mission was to create more than just a website,” Harvey said. “We wanted to craft an engaging digital experience that truly serves the neighborhoods in the greater Chicago area.” The engaging interface speaks directly to the community, reflecting the credit union’s commitment to being an engaged, resourceful, and tenacious partner. A key component to that was making the digital experience smoother, smarter and more user-friendly, said Alex VanHaasteren, senior web developer at YMC. “The new site is not just an online portal, but a dynamic space that invites users to interact in ways that are meaningful and relevant to their financial journeys,” VanHaasteren added.

Why Asking the Right Questions is Key to a Successful Credit Union Marketing Strategy

In the world of marketing, diving straight into creating strategies and campaigns without fully understanding the financials of the credit union is like setting sail without a map. For any marketing initiative to succeed, you need to know more than just your target audience and brand image—you also need a strong grasp of the credit union’s financial situation and goals. Asking the right questions from the get-go is crucial to developing a well-rounded, strategic marketing plan. Let’s break down why this is so important. 1. Aligning Marketing Goals with Financial Health Before you even think about crafting marketing tactics, it’s important to understand the financial goals and health of the credit union. Ask questions like: These questions allow you to align your marketing objectives with the broader financial goals of the credit union. For example, if the goal is to increase loan applications, understanding the current loan-to-deposit ratio will guide your messaging and targeting strategies. 2. Budgeting Smartly Knowing the credit union’s financials is crucial to setting a realistic marketing budget. Asking questions about the available marketing spend, and understanding where funds might be better allocated, helps avoid wasted resources. It also ensures that your strategy can deliver a return on investment. Consider asking: These insights guide your decisions on ad spend, digital campaigns, and community outreach programs. 3. Understanding Member Behavior and Financial Needs Credit unions are mission driven to serve their members in ways that go beyond traditional banking. Understanding the financial needs and behaviors of your members is key to positioning products and services effectively. Some effective questions are: These answers will help tailor marketing messages and product offerings that meet specific member needs, driving both engagement and loyalty. 4. Identifying Growth Opportunities Marketing isn’t just about the short term—it’s about positioning the credit union for sustainable growth. By asking questions that help you understand the broader financial landscape of the credit union, you can spot opportunities for growth. You’ll want to ask: For example, if the credit union has a strong but under-marketed auto loan product, focusing efforts on promoting that could yield significant growth. 5. Building Trust with Leadership When you approach marketing with a strong understanding of the credit union’s financials, you gain credibility with leadership and other stakeholders. It shows that your marketing plan isn’t based on guesswork, but on real data and financial insight. This trust can lead to greater buy-in for your ideas and more collaboration across departments. In the end, a successful marketing strategy for a credit union starts with asking the right questions about its financials. Aligning your tactics with financial goals, budgeting wisely, understanding member needs, identifying growth opportunities, and building trust with leadership will help ensure your marketing efforts are not just creative but effective also. So, before you dive into your next campaign, take the time to understand the bigger financial picture—it’s the foundation of a truly strategic marketing plan. Need help developing a strategic and ultimately effective marketing plan? For over 15 years, the YMC team has helped dozens of credit unions effectively engage members through strategic marketing, and we can help yours too.

What makes a great credit union marketing partner so valuable?

The YMC team truly are credit union marketing experts, and we have been for almost 20 years. But one of the biggest misconceptions about a marketing expert is that they have all of the answers. If a potential marketing partner begins to woo you with ideas and answers before they’ve asked a lot of questions… run. Run fast and don’t look back. Expertise does indeed involve supplying a few answers, but expertise is mainly about asking the right questions. The answers should be few, and only come after the truth surfaces through the honest answers to those questions. An example I always use – because it is burned into my mind – as the most important reason credit union marketing experts should ask many questions before answers was a goal setting meeting I had with a new client. “Ten percent loan growth is our goal” they excitedly exclaimed! “Cool, let’s make it happen, but first I want to know why you’re not achieving that now.” That was my question. The answer was as I expected. “We need better marketing!” Of course, that’s why they hired YMC. But I knew better. I pressed in with more questions to gain perspective. What we found were an average of 180 approved loans per month over the last six months. What we also found were on average only 80 of those loans were funded. “What happened to those other 100 loans? That would equal out to more than 10% loan growth!” A timid employee raised his hand. “It’s taking us 4-5 days to get an answer back on those loans, and typically those members have already applied for a loan and gotten in somewhere else before we get back to them.” A-HA! There it is! They, in fact, didn’t have a marketing problem. But asking the right questions as a credit union marketing expert, we uncovered the true problem. And, even more important, if we had launched a freakin’ cool loan promotion to drive more volume, it would have increased their problems, not solved them. More loan applications they would not have replied to in time, further decreasing the trust of their brand within the community, and a lot of good money spent on the wrong solution. Expertise is about curiosity. Curiosity requires that you ask many questions. More importantly, expertise requires knowing what questions to ask to get the answers needed to bring the right solutions, and by extension results, to the table. There are so, so many marketing tools in the marketer’s toolbox available to any competent firm. Asking the right questions, listening to honest answers, and then knowing selectively which tools to pull from the box to provide the right solutions is the job of a true credit union marketing expert. For almost 20 years, the credit union marketing experts on my team at YMC have been doing just this. We’ve crafted a time-tested process that allows us to gain perspective, understand the problems, and then creatively solve those problems that lead the credit union to growth. As we head into the new year, are you sure your marketing partner truly knows what tools to use? Have they asked the right questions to gain the perspective they need to know what problem to solve? We can help.