Boost relationships and results by engaging members in credit union initiatives

by. Amber Scott

As credit union marketers and business development  leaders, we are tasked with knowing our products, selling our services, and  supporting our strategic initiatives. But how effectively are we engaging our  members in planning, executing, and evaluating these goals?

Extensive membership surveys, focus groups, web polls,  and other tools are effective in gathering member input. We use the results to  drive our plans and support our projects. Another research technique in  practice among many credit unions is member advisory groups. Working with  members inside a target market segment can reflect a credit union’s commitment  to that segment, build deeper relationships, and drive loyalty.

Consider how member input can impact decision making when  working through credit union initiatives.  As a strategic plan is  developed, management teams deliberate many topics, for example: do we want to  grow our investment services program, expand our youth initiatives, or build a  larger commercial loan portfolio. In each scenario, a credit union could build  a member advisory group tasked with engaging members in ongoing, meaningful  conversations about their financial perspectives and needs. Credit union  managers can gain insight and leverage relationships to drive growth.

If you think a member advisory group could enhance your  strategies, here are a few quick tips to get you started:

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