“How is a Credit Union Different from a Bank?”

With increased awareness of financial options, consumers are genuinely wanting to learn more about what makes credit unions special. A common marketing technique is differentiation:  comparing two similar products side-by-side, and showing how your offering is better. As the competition for your members’ share-of-wallet grows, it becomes increasingly important to truly differentiate. It is not enough to rely on low interest rates and no overdraft fees, because nearly every financial institution is saying the very same thing. Leveraging your unique value proposition as a credit union is the difference between surviving and thriving as a credit union movement.

Credit unions are mission-driven financial cooperatives that prioritize serving their whole community through initiatives and programs such as community giveback, personalized services, financial literacy programs, and unique member experiences to support financial wellness. This is a superpower! Quantifying and operationalizing your credit union's unique superpower to support credit union growth can be challenging… but it isn’t impossible. 

Learning to leverage your superpower - and the associated data & insights - allows your credit union to adapt and innovate. Connecting with your members, and leaning into your credit union unique value proposition with concrete data points helps to, not only provide a stellar member experience, but also reach potential new markets. Clear and compelling messaging around what makes your credit union different is key to growing and sustaining loyal members.

Resources to help discover your differentiating superpower can be hard to come by. NetGiver and THRIVE Strategic Services are providing FREE seminars to help you uncover, activate and deliver your CU Superpower.