Marketing and Telling the Story Making your REAL Solutions Count

Natalie Sherry

Wisconsin Credit Union League

Wisconsin in a Nutshell

• “Pilot” state

• 260 credit unions

• 10 over $500MM

• 1st state to surpass 100 RS credit unions

What We’ve Learned So Far

• REAL Solutions– Fulfills an inherent need in the community– We can serve our members better because

we know them better– Not charity, however what is most helpful not

always what is most profitable– Serves mainly low wealth and new Americans.– Wal-Mart is kicking our butts! Why?!?

Hispanic Marketing

• Translation vs. Transcreation

• Acculturation

• Assume nothing!

• Trust is substantial

Marketing message in both English and Spanish is a good start...

...but it doesn’t end there!

Founders Federal CU• Half the Battle:

Identify the Need• Understand the Market• Reach out with Focused Strategy:

– Local Hispanic community activities– Diversity training for staff– Spanish speaking staff– Spanish language marketing material– Personalized, one-on-one interactions

Getting the Message OutInside the Credit Union

• Employee Training on Hispanic Culture and Banking habits

• Compatibility within each branch and department

• Bilingual staff on frontline• Hispanic Focus Group• Hispanic Marketing Team

Outside the Credit Union• Hispanic Chamber of

Commerce• Local School Districts• Community Events• Advertising

Earlier This Week

• Selling Solutions, not Products

• Multi-Sensory Marketing

• Social Media

“Where might all of these concepts fit when promoting a REAL Solutions program?”

What Types of Programs Need Marketing Support?

• Payday loan alternatives

• Payroll cards

• Prepaid cards

• Used car loans

• Loan to savings

• Fin ed

Case Study #1

Prospera Credit Union’sGoodMoneySM

VideoGoodMoney Site

Take it to the People!

• Narrow focus is key• Go where the users

go• Connection between

CU and GoodWill• “These babies sell

themselves”– Affordable– Helpful– Convenient

• Getting the word out– Traditional advertising– Non-traditional

advertising – Website– In-store branding– Community

involvement

Pulling it all Together

• Co-brand it– GoodWill Northeastern

WI

• Buy-in from local organizations

• Grassroots effort• Focus on PR and

strategically placed advertising

• League involvement

Case Study #2

Ohio Credit Union League’s

WI’s StretchPay Campaign

• Newsletter article and artwork

• Web banner• Online brochure• Take-away brochure• Lobby/SEG Poster• Press release

More Suggestions

• Stop being so humble!

• Marketing plan w/traditional and non-traditional

• Pressure your League to commit to REAL Solutions

• Get your League to sing your praises

WI Tries to Make Sense of it AllREAL Stories video and CU Difference

Case Study #3: I Love My Hoopty

Filene is your Best Friend

• Why Choose a Credit Union? An Ethnographic Study of Member Behaviors

• Financial Services and Product Usage by Latinos in the United States

• Blueprints for Innovation• Who Uses Credit Unions?• Thriving Midsize and Small Credit Unions• 10 Research Findings with Strategic Implications

for Credit Unions

Plan Essentials

• Web, Web, Web!• Networking• Community

Involvement

• Publicity• The new rule?

– Go to them instead of them coming to you

Other Inspirational Resources

• Predatory Lending Association– "dedicated to extracting maximum profit from

the working poor." – Thank you, Front Seat Management

• Center for Responsible Lending

Create a Marketing Plan for this Scenario