But they weren't brochures about the credit union's checking account or the credit union's mortgage program. "I walked into one credit union, and they had a beautiful display of brochures. "This shouldn't be about sales," he added. "Education is what we're here to do."Ĭredit unions, then, must take every opportunity to teach and inform their members, because it is the right thing to do, he suggested.īut it also just so happens that making the most of every opportunity to teach and inform also creates greater visibility for the credit union, and that helps develop the partnership between credit union and SEG and credit union and member. "We have a fiduciary duty to teach financial literacy," Bator said. But Bob Columbo, the CEO of my credit union, will come on out to say hello." "One of the great things about credit unions is that the CEO really is right there and is ready and willing to meet a person. "Have CEO breakfasts and luncheons," Bator recommended.
Not only does this help develop the relationship between CU and SEG, but it also gives the CU a chance to live up to and demonstrate the people-helping-people philosophy that sets credit unions apart from banks.īator also suggested creating a local rewards program using local restaurants or entertainment venues.Īnd never underestimate the power of the credit union's CEO. Instead of using marketing dollars to put logos on stress balls and letter openers, consider donating that money to the SEG's favorite charity-and of course, be sure to tell them about it. "Tie in to their charities," Bator suggested. The credit union formerly known as NWA FCU, for example, was actually sued by its original sponsor, Northwest Airlines, for using the NWA name and logo, he noted.
Of course, a credit union needs to make sure its SEGs want that kind of tie-in. "Link your brand to the SEG," he suggested, noting that Baxter CU has actually created branded websites for some of its SEGs, making it appear as if the credit union has created a completely new credit union just to serve that SEG. "If the person you originally worked with leaves, you've still got a footprint."īut it's not simply about getting the SEG to commit to the credit union-it's also about demonstrating the credit union's commitment to the SEG. "It's critical to get commitment in writing," Bator advised. "If every member of the chamber is a life insurance salesman, then you're just not going to find a whole lot of leads there," he noted. Other groups credit unions should consider having their business development officers join would include area chambers of commerce, Business Networking International (and Sales & Marketing Executives International (But Bator cautioned that certain chambers and groups aren't has helpful as others, so it's worth the credit union's time to evaluate the groups before choosing which ones to join.
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Joining groups like the Society for Human Resources Management and other such HR groups is not only a good way to find out about potential new SEGs, but it will help the credit union understand what HR people want, and that will help the CU know how to appeal to these people. "We need to understand the HR people's pain," Bator noted. Since most SEG recruitment calls go to an HR person, understanding what that person wants and needs is just as important as understanding the business itself. In addition to the corporation's website, other sources of information include human resources publications, local publications, the company's annual report and the chamber of commerce. Instead, check out the potential SEG's website, read up on any news articles that have been written about the company and learn as much as possible about the business.Īt the very least, this will keep the credit union representative from looking ignorant, and at the very best, it helps develop rapport and potentially wins over a new SEG. "Never ask a question that you can get the answer to beforehand." "There is no excuse to go into a call unprepared," Bator suggested.
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