Callahan & Associates is conducting an in-depth profile on the branding and differentiation efforts of Wright-Patt Credit Union. Yearly data shows what the credit union's strategy means to its bottom line.
Earlier this week my colleagues announced that Callahan & Associates had chosen Wright-Patt Credit Union for an in-depth profile in the upcoming edition of Credit Union Strategy & Performance.
According to Alix Patterson, Callahan's chief operating officer,
“We've been watching Wright-Patt for some time. They have phenomenal programs that really help their members in Dayton, OH as well as across the US through their participation in multiple CUSOs. We want to bring that story to the industry so that other credit unions can learn from the best practices that Doug Fecher and his team employ.”
What became clear to me when looking for a credit union to profile is although we’re focusing on a perceived soft topic, that of branding and differentiation, Wright-Patt has effectively used this strategy to propel its bottom line results. Look at this chart depicting ten year average annual growth rates for a few key peer groups.
The credit union is the only entity that has maintained equal operating expense and income growth. It has the highest average annual growth rates for both loans and shares. Finally, it is successful at getting members to join the credit union and stay with the credit union.