Lessons In Brands, SEC & Misunderstood Competitor
Credit unions attending NACUSO's annual meeting here got lessons in branding, were told by a check-casher he's
What Folks Don't Want
In a keynote address, Duane Knapp, president of Brand Strategy, Inc., and author of "The Brand Mindset," told attendees that
What credit unions and CUSOs don't want, said Knapp, is to be a brand name that lacks the distinctive characteristics of a true
* An obsession with making members "delighted" rather than "satisfied."
* A focus on being distinctive.
* Delivery of the functional and emotional benefits of the promise.
Rather than following the traditional old business school acronym of FRED, which stands for Familiarity, Relevance, Esteem, and
"Until your members insist on doing business with you, you haven't developed a true brand," Knapp said. And doing that requires
You're (Thankfully) Misinformed
Brian Boston, president/CEO of Industry Pages, Inc., and co-founder of the Payday Loan Corp., smashed commonly held
The average customers of check-cashers aren't "lower class," nor those flying below the usual radar, nor disreputable folk and
"People at check-cashers love that everybody thinks that check-casher users are seedy, because it allows them to dominate the
People use check-cashers because they are fast and offer immediate access to money. The service is simple, the hours are better
Boston challenged credit unions to ask themselves if they are ready to meet the challenge of check cashers. "Are you really
MCUL Supports Financial Literac
NACUSO General Counsel Guy Messick moderated a panel discussion and question and answer session on what might be
CUNA Mutual VP Kevin Thompson expressed the anticipation best when he said, "People want to know when? Well, the SEC
Tom Taylor of Financial Network Investment Corp., said that many of his client CUs are already moving reps inside the credit
Mark Allen president/CEO of VCU Capital, said that he had just had a SEC audit and reported that the regulator was asking a lot
One question from the audience cut to the quick: "What can I tell my boss, who said that years ago a team of lawyers came into
In a half-joking answer, Messick answered: "Tell him that now that they have all this experience, it's safe to bring it into the credit
The real answer is that it is a necessity due to a regulatory change, said Messick.