Sep. 23, 2009 at 3:38pm

National CU brand? Good luck!: Individual CUs must brand themselves differently–from banks and each other

Part 3

Posted by Kurt Jacobson in Strategic Communications
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In two recent posts I said a national credit union branding campaign would probably not work, and that national promotions might.

If credit unions want to increase the CU share of the market for consumer financial services, then each credit union must find and pound away at a unique and meaningful point of difference from banks.

Good customer service retains members. But serving members well doesn’t necessarily attract new members, limiting growth rates. To attract new members you must turn them on to a meaningful point of difference.

I have my doubts that a national CU brand will create much growth. Agreeing to a powerful common differentiator, and actually being different, is a challenge. A series of national promotions, such as the promise of dividends or more convenient hours, might work.

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