Value-added services aren’t just bait on the hook. For credit unions, they're a long-term business model.
Let the controversy begin! D.C. was recently named the nation’s best place to raise a family, and while we’re far from perfect, the wealth of free community and educational resources here demonstrates a heavy investment in future generations.
Most taxpayers understand we must pay a price to help support our future, and for now at least, even corporate generosity has been boosted by economic stabilization as business donations grew by 11% last year.
However, some doubt corporate America can be counted on to devote a substantial share of money and resources to support local education in the long-term, says the New York Times, despite evidence that every dollar spent yields more than a tenfold return in the economy. Their lack of foresight is a serious opportunity for credit unions to better meet this need.
In the era of cutbacks and efficiency, too many have forgotten the impact even small investments and actions can have on their present and future business base, to their own detriment. Credit unions are different in that we’re not investing for future dollars, we’re investing for future members, and as such need a more long-term approach in how we support the education system.
Making a difference in children's lives requires more than just a big checkbook. It requires supplies, teacher support and education opportunities, and volunteer boots on the ground in classrooms and places of learning around the nation.
Become a resource to those with a need but nothing to reciprocate (at first), and stick with them. You’ll create a brand that grows with a person throughout their life, from their elementary school to their first auto loan, student loan, mortgage, and IRA.
Sometimes, it’s not what you can give, but what you can keep that makes the difference over the years. Many automobiles don’t even come stocked with spare tires anymore, says the Los Angeles Times, as consumers become accustomed to expecting less. As today's younger members grow up, services like free checking, financial consulting, and even capable, reliable customer service will become increasingly rare. Considered the protection of these services as an additional investment in their future and your own, even if they require going the extra mile physically or financially to make it happen.