BankThink

WASHINGTON - When contemplating the maneuvering around the CU Regulatory Improvement Act (CURIA), especially the provisions regarding credit union conversions to banks, I was reminded of an old Jimi Hendrix sing called, "When 6 Turned Out to be 9."

I'd like to thank Credit Union Journal for your very insightful article on service to people of "modest means" (CUJ Feb.26). Quite honestly, I have gotten frustrated by the arguments offered by the leader of middle class organizations that are quite removed from large numbers of Americans that have traditionally been neglected by financial institutions. Perhaps it's time that we begin to consider other perspectives, including from those that are committed to serving the disenfranchised in our society.

In March I attended an invitee-only seminar on branding at George Washington University in Washington. The speaker was Dr. Kevin Lane Keller, the E.B. Osborn professor of Marketing at the Tuck School of Business at Dartmouth College. Dr. Keller is also a consultant on branding for many of the Fortune 500 and is author of the two best selling books on branding ever sold.

When the cliché "Beauty is in the eye of the beholder" comes to mind, it is inevitably used in the context of something visual: modern art (the collector vs. the Average Joe); a purple house (Prince vs. his neighbors), or Lyle Lovett (Julia Roberts vs. most of the rest of the world).

Are credit unions simply looking at the world through rose-colored glasses? In the first part of this two-part series (CU Journal, May 7), we agreed that two industry trends of great concern are lagging membership growth and deteriorating earnings. CU membership growth since 1996 has been a lackluster 2.5%, and only 1.5% since 2002. Factoring out temporary members from indirect lending, net growth has likely been flat, if not negative.

It isn't often a credit union CEO gets a call that "takes your breath away." Then again, it isn't every day you pick up the phone and hear, "This is the White House and we'd like for you to come and meet with the President."

Awareness surveys can be valuable tools in a credit union's marketing toolbox and can be customized for a wide variety of applications. One of the most popular uses is to ascertain non-member awareness of the credit union in conjunction with marketing outreach. These surveys show whether consumers are aware of their eligibility and of the institution's services, which is particularly critical when contemplating a community charter. For example, one institution's awareness survey showed that its marketing messages were not compelling. Potential members were either unaware they could join, or if aware, did not know what the credit union had to offer.

One if by land, two if...you're trying to sum up all the terrific advice, strategies and knowledge shared during the Credit Union Journal's recent Business Development & SEG Conference in Boston. In this, the second of two columns, I try to offer at least a few of the tidbits that were part of the two days of meetings.

Those of us who know Bob Walls well are stunned that the New Jersey Credit Union League Board of Directors released him as their league president.

Discussions with many credit union people confirm that two industry trends of great concern are lagging membership growth and deteriorating earnings. CU membership growth since 1996 has been a lackluster 2.5%, and only 1.5% since 2002. Factoring out temporary members from indirect lending, net growth has likely been flat, if not negative.