Simple and Effective Credit Union Marketing Ideas: Engage and Convert with Ease

Author Erin Petro
Read time 5 minutes read time

Maybe a potential member already knows who you are and just needs a nudge. Or it’s possible a potential member has never heard of you and needs an introduction. Regardless, developing tactics that motivate someone to push the button takes sound marketing ideas and strategies.

But there are so many options regarding strategies and tactics that it can be overwhelming when you sit down to plan. We’ve compiled a list of marketing ideas to help engage and convert new members.

Personalized Outreach for Credit Union Marketing

Effective outreach is increasingly vital to credit union marketing. Connecting one-on-one can do more for you than just focusing on digital and social media marketing.

Nickels has a plan to help you effectively connect with potential members in your community. Using CardFit, Nickels can help your community by giving cardholders more realistic credit card comparisons based on their payment behaviors, so they can waste less money on debt. 

Users are reached through selective targeting. This is done through:

  • paid per click (PPC)
  • digital display ads
  • Facebook ads

When a customer clicks on the ad, they land on the CardFit comparison page.

CardFit provides simple, unbiased credit card comparisons that include a local credit union option alongside the big bank cards. 

People in your greater community receive an instant comparison through this personalized digital outreach. They are then able to act immediately.  

Use Credit Union Marketing to Engage Community

Engaging the community is imperative when marketing a credit union. The public is fickle and has a short attention span. You must provide them with a reason and vehicle to engage with you. Technology offers both.

Digital Services are Crucial

Americans don’t want to have to actually visit the credit union. They want to engage through their computers and smartphones. Keep in mind that 90 percent of Americans own smartphones, and that’s their preference for interaction.

It’s imperative for a competitive credit union to have a quality digital app and/or web portal. Your app should be the focus of all marketing. Members and non-members should be informed of your digital assets.

This is particularly important to the millennial and Generation Z prospects. But remember, the technology you adopt must be high quality.

Chatbot as an Interactive FAQ

Chatbots can help with marketing strategies for credit unions. Think of the chatbot as an interactive FAQ.

Your members and potential members can find the answers to their questions quicker and at their convenience.

Engage the Potential School Age Members

Schools face the challenge of providing financial education to their students. Credit unions can help by educating students who will also be future members.

Become involved with local schools and develop programs where you go in front of students and explain financial services.

Credit card education is a vital part of that conversation. Give the graduating students an opportunity to create a financial system that will allow them to start building credit.

Engage Current Credit Union Members

Reach out to potential members for cross-selling opportunities. Nickels can help with that. They have their white paper three-pronged process of:

  • identify
  • reach
  • engage

Card Check is a great tool for cross-selling credit cards to existing members.

Using the information you have in your core, you identify heavy revolvers using competitor’s credit cards.

You then reach out to them with a customized email marketing campaign. Once the member receives the email, Card Check helps the identified member select a credit union card that fits their spending behaviors.

They are given a comparison. This engages them through education. If they currently have a competitor’s rewards card, Card Check lets them see what the card is truly costing them.

The credit union can then offer a low-interest alternative. Everyone wins, and you now have a more committed member to the relationship.

Local SEO Vital

Ensure your credit union is set up on Google Business Profile. It’s an easy and free tool that allows you to:

  • connect with potential and current members
  • post updates
  • share menus
  • maintain accurate information
  • tell Google hours, website, phone number and location
  • collect and respond to reviews
  • point potential members to the website

Google Business Profile is a powerful way of initiating local search engine optimization (SEO).

Establish a good foundation of links pointing to your website. One way to do this is through directory listings. Your linked website is part of the listing when you’re in a directory. When someone clicks on that link and goes to your website, Google sees that. And it helps your SEO.

When applying to directories, ensure they are legitimate. Spammy ones can hurt your SEO.

Credit Union Marketing Strategies

A member wants convenience. Through digital products, you can offer just that. But make sure they are quality digital products, or it could backfire on you.

Take every opportunity to go into the community. The schools are the best place to start. You’ll reach future members and their parents.

Don’t forget the big data you have in your core. Nickels’ Card Check can be used to identify members with the highest propensity to take action and cross-sell low-interest credit card products to help them get out of debt faster.

Contact Nickels and find out how Card Check and CardFit will work in your credit card marketing plan. Use their identity, reach, engage to promote local credit card conversions.

About Nickels

Nickels is a CUSO that helps credit unions cross sell credit cards, shift spend to their cards, and refinance members’ competitor card debt. Founded in Ann Arbor, MI, their mission is to improve members’ credit card health, in part by shifting members from high interest competitor cards to lower rate credit union products. For more information, please visit nickels.us.