Fostering Credit Union Growth

 

The Minnesota Credit Union Network (MnCUN) selected Haberman, in partnership with NewPublica, to advance its advocacy, marketing/communications and public relations efforts. MnCUN is the single greatest champion for Minnesota credit unions and committed to dynamic, bold advocacy; inclusive collaboration; and innovative solutions that help accelerate the growth of credit unions.

 

With this new partnership, Haberman builds on a years-long partnership with Affinity Plus Credit Union as its Agency of Record. Haberman has helped craft a comprehensive integrated strategy, inclusive of planning and buying and creative development for Affinity, aimed at growing the credit union’s member base. “Life Math,” a campaign Haberman developed targeting Millennials and Gen-Z tackled two main challenges: lack of credit union awareness and and attracting a younger membership base. As a result, in the year that Life Math launched, Affinity Plus grew more than in any of the previous 10 years, with its priority markets reporting up to 75% higher penetration rates.

 

Here are a few insights into how we’ve done it: 

  • Growing with younger generations requires more focus on the bigger “Credit Union category” differentiators. When it comes to differentiating from traditional banks, nothing is more powerful in appealing to younger generations than CU’s member-owned, not-for-profit, socially responsible business model.
  • Make limited marketing budgets work harder. Zero-basing budgets based on new member growth priorities, instead of increases or decreases from the prior year, ensures there will be sufficient media in the right local markets, in channels such as outdoor and video, to make a real impact.
  • Modern branding and visual identity play a huge role in overcoming the perception that credit unions aren’t as sophisticated as big banks. Investing in a unique and ownable brand name, logo, and foundational brand elements like color, font, graphics, verbal and visual signatures, helps a credit union stand out from the sea of financial institutions in the hearts and minds of prospective members.