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Even as a digital marketing agency, we know there are benefits credit unions realize through direct mail campaigns to reach members and potential members. The keys to doing that well are using an integrated CRM that can provide information and working with a vendor such as Conquest Graphics to convert that data into advertising, tailored to a member, or potential member’s, current needs. Now that the volume of direct mail has tapered off in most households, it is easier to get attention than in previous years.

According to the World Council of Credit Unions, the average age of credit union members in North America is 53. Since the overall median age of people in the U.S. is 38.5, credit union members are squarely on the older side of the population. To build a member base that will grow over the next several years and decades, attracting members under age 45 is the goal for most credit union marketers.

It’s no surprise to those in the financial industry that credit unions and traditional banks are facing tough competition from digital-only banks and fintech. In our recent survey of 1,000 banking consumers and subsequent Consumer Banking Preferences & Behavior Report, we learned the value drivers for consumers under age 45. Number three in the primary factors list that people under 45 value in a financial institution are mobile app capabilities. Online (non-mobile) capabilities ranked in the secondary factors. Clearly, the online experience is important to the younger demographic, and fintech by nature delivers exceptional digital experiences. But what makes a fintech app better than credit unions’ websites and apps?

While credit unions have long been known for their low rates and trust-worthy business practices, younger consumers in this digital-first era have different priorities. In our exclusive, Consumer Banking Preferences & Behavior Report, based on a survey of 1,000 banking consumers, we learned that there is a wide gap between what consumers under 45 value and those that are 45-plus value in a financial institution. It is up to marketers to resonate with consumers on things that matter most to them which may require changing up the message as well as the channels in order to reach a younger audience.

As a credit union marketer, knowing what the target audience cares about most is essential to crafting a message that resonates. Do you know what banking consumers under age 45 prioritize in their financial institution? Are you promoting the features that matter to them as competition increases against national banks and online-only banks for share-of-wallet?

Credit unions have long been talking about fintechs and their implications for the financial industry. WebStrategies has been deeply curious about this as well so we hired an outside research firm to dive deep into the public's perception of credit unions and online-only banks, among other things.

Is your credit union advertising meeting organizational goals?

Credit union marketers can face resistance within their organizations regarding the use of digital tactics to acquire new members and increase share of wallet. Whether it is coming from the board or the C-suite, credit union marketers often have to convince others within the organization that their digital marketing efforts help the credit union meet its goals. How should marketers respond to skeptics within their organizations and convince the doubters that digital should actually be expanded? WebStrategies Director of Business Development Kristin Harrison recently appeared on the CU 2.0 Podcast to answer this question. The conversation alongside 1st Advantage FCU VP of Marketing Amber Callahan and host Robert McGarvey revolved around how to develop a comprehensive and strategic digital marketing plan and obstacles that can get in the way, but ultimately why digital marketing has untapped potential for credit unions. Here are the highlights from the podcast:

WebStrategies recently appeared on credit union talk show CUbroadcast. The show featured CEO Chris Leone and Head of Digital Advertising Emily Niedermaier discussing digital advertising pitfalls that credit unions should avoid.

We've talked about what factors cause credit union marketing budgets to be higher or lower. But once that budget is in place, how should it be allocated?