In today's business environment, questions about framing and branding are neither rhetorical nor merely academic. Credit unions must now consider how well they are placing members at the center of their brand. A good example of this, Spire Credit Union's "Driven by Midwest Values" campaign, stars animated president/CEO Dan Stoltz and Archie, the credit union's 1952 Ford pickup, meeting Minnesotans.
Read: It's Time To Make Your Credit Union A Lifestyle Brand
One of Callahan's interns was 19 and confused. His bank had charged him $35 for having negative $2 to his name. Exhausted and broke, he did what any self-respecting teen would do: went online and found Simple Bank — a fee-less, punishment-less, technology-driven checking experience. Fast forward two years, and he's still there, loving his bank.
Read: Why I Only Bank Online
Credit card lending continued its rise across the credit union industry in the first quarter of 2018. Total balances topped $57.2 billion as of March 31, that’s a year-over-year increase of 9.8%. Credit unions also reported a bump in the average credit card balance. That has increased $125 in the past 12 months to reach $2,895. Credit card usage increased 9 basis points annually to 31.1%.
Read: Credit Cards By The Numbers
Different generations require different conversations. Learn how credit unions can serve all ages in Callahan's recurring graphic series, including Generation Y — those 22-37 year-olds born between 1981 and 1996.
Read: The Credit Union Guide To Generation Y