The Credit Union Connection’s Post

Credit Union Chat with Nick Wodogaza, CUDE, and Chris. Our topic of conversation today is all about credit union growth, market share, and marketing. "Credit union market share is slowly growing, but it still represents less than 9% of the financial services market in the US. Every credit union seems to be focused on gaining new members and market share and offering more and better services. As you engage with credit unions, what are you hearing that's causing you concern, and what excites you about what you're hearing? What insights are you sharing with credit unions seeking to grow?" #nickandchrischat #creditUnions #marketshare #growth #memberships #financialServices #insights

Unpacking CFPB’s Rule 1033 🔻Learn more about it🔻

"As we navigate through an era of rapid change and economic uncertainty, credit unions stand at a critical juncture. The future beckons with both challenges and unprecedented opportunities, but by embracing innovation and focusing on member-focused services, credit unions can remain relevant and impactful in a space where consumers are quick to embrace brands with the most marketing dollars." #ownersrepresentative #financialinstitution #creditunion #credituniondesign #bank #bankdesign #structurefirst

I know you're wondering... - What's the difference between a credit union and a big bank? - And so what? Here's a strangers-at-cafe-with-croissants version... Hey, that croissant thing looks dangerous. [silly chat, asks me]. Yea... - We're building so people can dream again and see what's possible. - We partner with credit unions cuz they've got great products and care. [curious look, asks me] Summary: - At credit unions, customers are members. - Deposit money, you become part owner, so they really want to hear you. - National banks answer to shareholders, yea they're everywhere, but yea, shareholders. - So, CUs care about their community, be that by town, profession, faith, school, values. - They often have higher interest rates on savings accounts and lower interest on loans. Community? - CUs are involved in local events, educational things, sports games. - So they often have better deals for local businesses. - Going into one, it doesn't have to be about a transaction. - It can be hey, this is what's going on in my life, what do i need to know? #croissants #creditunions #banking #fintech #community #society

Despite growing popularity, there remains limited awareness and many misconceptions about what #creditunions are. 🤔 Here are a few. 👉 The most common misconception might be that they are the ‘poor man’s bank’. However, credit unions are much more than that. They offer a community-focused, ethical alternative to traditional lenders and provide a wide range of services tailored to meet the needs of all individuals. 🙌 🔍 Discover more and visit our dedicated credit union platform: https://lnkd.in/eDsxp6qz #creditunion #ethicallending #financialinclusion #mythbuster

The number one British taboo: speaking about our money 💸 Are you struggling to talk about money? You're not alone. We caught up with @thisgirltalksmoney to talk about the benefits of speaking more openly about our finances. Starting these conversations about money can be uncomfortable at first, but by doing so we can begin to break down the stigma. So, what do you think? Would you start a conversation about money with your loved ones? Let us know in the comments below! Let's get the conversation started! 🙌 #finances #savings #moneytalks #FordMoney

At Momentum 2024, thirdstream joined credit union leaders to discuss a pressing question: How can credit unions preserve their mission-driven values while adapting to the digital-first expectations of today’s members? The answer lies in collaborative fintech solutions. By integrating user-friendly, adaptable technologies, credit unions can streamline operations, improve service delivery, and reinforce their unique community-focused advantages—all while staying true to their purpose. Our latest white paper, "Staying True to Purpose: Credit Unions in a Changing Financial World," dives deeper into these insights. It explores how credit unions can embrace innovation without losing their core mission of empowering communities through integrity, transparency, and accessibility. Access the white paper here: https://lnkd.in/guVZJD48 #CreditUnions #Fintech #DigitalTransformation #Momentum2024 #CommunityFinance https://lnkd.in/guVZJD48

Love it or hate it, legislation is part of life for credit unions–but any new regulation is typically pretty black and white. Not so for the CFPB’s Rule 1033. How is your credit union preparing for it? Listen to our recent episode with John McKechnie to hear more: 🔗LendKey: https://bit.ly/3OYozfC 🔗Apple: https://apple.co/3BzgLho 🔗Spotify: https://spoti.fi/41HG2AN 🔗YouTube: https://bit.ly/4gA7PHo #22MinutesInLending #creditunions #fintech #lending 

Remember when GIFs were cool? 😄 Yeah, that's how some credit unions' marketing feels to younger folk. 🕰️ Take my oldest daughter, for example. She recently saw a credit union ad plastered with generic stock photos and a message about "growing your future." 📸🌱 Her reaction? An unimpressed eye-roll. 🙄 This disconnect between reality and perception is a major hurdle for credit unions trying to attract young members. 🚧 The truth is, credit unions are NOT relics of the past. 🏛️ Many offer the same cutting-edge features as online banks – mobile banking, digital wallets, budgeting tools – but their marketing narrative hasn't caught up. 📲💳📊 That's where Strum comes in. 🎯 We help credit unions craft a compelling message that aligns with the desired audience. ✨ Ditch the generic marketing and craft stories that resonate with young people, showcasing your modern features. 📖👩💻 There is no ‘one-size-fits-all’ marketing. Ready to change the game? 🏆 Let's talk about how Strum Platform can help develop strategies that transform your credit union's marketing. 🤝 #TargetedMarketing #FinTechSavvy #CreditUnionMarketing #Strum #DigitalBanking #ModernFinance #YouthEngagement #MarketingStrategy

In times of rapid change and economic uncertainty, #CreditUnions face many challenges and opportunities. By embracing innovation and prioritizing member-focused services, they can stay relevant, even in a competitive market. It's essential for the industry to understand current members' needs, anticipate future demands, and attract a new generation. Read the full article from Credit Union Times to learn more about navigating these changes and securing a bright future for credit unions: https://ow.ly/nfQV50Sa0kJ