Companies servicing the credit union industry understand the difficulties involved
in marketing to a finite, and often diminishing market. The ever-merging environment
of the credit union community contributes to the perpetually shrinking number
of credit unions. In the four years spanning from June 1997 to June 2001 the
total number of credit unions decreased 10.3%. However, while credit unions
continue to disappear, your focus group has probably expanded.
While the total number of credit unions has continually dropped, your target
credit union market is probably growing. Larger credit unions attract service
providers because of the extensive services larger credit unions must offer
to maintain growth and quality service for members. Over that same four-year
span, the number of credit unions over $50 million in assets has risen 23.7%.
The year-end 2001 numbers will be released by NCUA later this month, and you
can anticipate a similar rise in volume of these sought-after credit unions.
Keeping tabs on who's new in your market is a good first step, but it's also
important to remain a step ahead. Anticipate which credit unions are about to
join the ranks. Aim at the fast-growing credit unions that are just below the
$50 million mark. Look for credit unions whose trends mimic those of the larger
credit unions. Small credit unions, growing at similar, or even better rates,
than large credit unions, will soon be your target market. These "bubble" credit
unions are itching to reach the next plateau and want your help to get there.
For more information on how to pinpoint, "bubble" credit unions or marketing
services Callahan provides, contact us at 800-446-7453 or look at our credit
union analysis program, Peer-to-Peer, and
contact management software, E-CONNECT.