Tuesday, April 21, 2015

New Research Leads to "A-ha Moments" for Better Serving Credit Union Members

by Eric Hansing, VP, TruStage

Last month, I had the honor of presenting our What Matters Now™ research program findings to several hundred of the brightest credit union marketing minds in the movement at the CUNA Marketing and Business Development Council Conference.

What Matters Now is part of an annual insights program to learn from middle-income Americans and credit union members. Our goal is to continue learning from them, then partner with credit unions to serve their needs and help them build financial security. When you look at how they define success, family is more important than having a lot of money but they still experience angst when it comes to finances. In fact, 62% of middle-income Americans worry daily about financial stability.

It was a privilege to interact with so many attendees dedicated to serving their members. There was a lot of energy and enthusiasm around the idea of learning from members to think differently about how we can design an experience focused on their needs and preferences. 

Here are a few “a-ha moments” that credit union attendees shared with me at the conference:

  • “We knew families were important to our members, but didn't realize how much. We’ll look for ways to get more involved in community efforts focused on families.
  • “These insights have made me reconsider the photos we use in our advertising. Our loan promotions use photos of expensive new cars. I wonder how impactful that is to our members.”
  • “With members being more focused on remodeling, that should be a key message for our home equity loan promotions. Rather than promoting the loan, we will promote their new kitchen.
  • “Our credit union recently built member personas. This research will help us to strengthen these personas.
I encourage you to visit CUNAMutual.com/WhatMattersNow to view the full report that provides in-depth insights on how Millennials, Gen Xers and Boomers define success. 

Some of these findings may surprise you and help complement your member marketing strategy. 

About TruStage
Protecting more than 15 million members, TruStage insurance products and programs include, auto, home, life, accidental death and dismemberment and health insurance. They’re available to credit union members across the U.S. and offer compelling and successful ways to build financial security for their families. Credit union members seeking more information can contact TruStage at 888.888.0375.