SAN LUIS OBISPO, Calif.--Up the Pacific Coast Highway in San Luis Obispo, CEO Suzanne Leedale said $32.6-million SLO Credit Union, said it has found success by stressing differentiation.
"We run very efficiently, even compared to some of the larger financial institutions in the area, because we focus on what we do well," she said. "San Luis Obispo is a very service-oriented area with a lot of tourists, but is has a small town feel. We provide personal service and have a close relationship with our members."
Reminded all CUs say they give great member service, Leedale added the CU has learned to talk about itself. "When I came onboard [in January 2008] we were not marketing ourselves; people did not know we existed. There was no cohesive identity; there was no outreach because we thought we only needed a relationship with the HR manager at the places we served. That was the way things had always been done. We thought the HR manager would send people over to the credit union, but because of privacy concerns and people not wanting to recommend one financial institution over another that had gone away and had not been replaced by anything."
Leedale said SLO CU went through a branding and identity remodel. It was not a rebrand, she noted, because it did not have a brand before. It began marketing and advertising for the first time, and targeted its advertising specifically to its SEGs, which she said is more affordable than advertising to everyone.
"We actually put our name on our building," she recalled. "We did outreach to community groups. You can offer the best service in the world, but if people don't know about you, it doesn't matter. We let people know they can join the credit union. The 'O' in our logo is an open door, which signifies people are welcome."
