Payment Industry Insider

As marketers of the credit union movement, we always tell CUs that they need to differentiate themselves from banks. This differentiation will help illustrate to potential members why CUs are a better choice than banks.

But what does it really mean to be "differentiated?" Take a look at this post by Kevin Freitas describing a side-by-side comparison of performing similar tasks at both a bank and a CU.

In this situation, with accounts at two different financial institutions, it is easy to see the differences. But what about the average person who doesn’t have the time or resources to "try out" a FI? Most people are not going to make a comparison when choosing their FI. They will most likely pick a FI they are familiar with or is near where they live. Either of those criteria should be easy for a CU to fulfill (heck, these days most FOMs are based on where you live), so why are people still choosing banks?

The problem is awareness. So get your CU’s name out there and make your community familiar with who you are. Once someone experiences the credit union difference, it’s easy for them to realize how great CUs are. The key is making people aware and getting them to go through that experience.

Kudos to Sound CU for taking care of their members.