Leveraging SEGs as a CU Marketing Arm

CHARLESTON, S.C. - According to NCUA data, CPM FCU has penetrated approximately 20% of its potential membership, despite the fact that FDIC data shows nearly 300 bank branches in its total market area.

Lockwood said one of the secrets for that penetration is working very closely with all member company SEGs to leverage their marketing capabilities to their own employees. In some cases this means working all three work shifts with larger SEGs during membership drives. It also means working with 100% of their SEGs, which he noticed is comprised of diverse group of companies, meaning the closure of any one would not create a crisis.

To support and service its SEGs, CPM hosts an Ambassador Club for member company HR representatives who are provided a special checking account and invited to "Lunch and Learns" throughout the year. Contests have proven effective, said Lockwood, who pointed to the use of gift card drawings for those HR Ambassadors, the hosting of member appreciation days at sponsor companies, and providing perks for every employee who also joins the credit union.

In addition, there is a separate log-in for Ambassadors on CPM FCU's website, where SEG HR representatives can obtain helpful marketing materials, forms and instructions for submission of payroll.

Lockwood stressed the CPM SEG strategy to leverage their member marketing is a critical driver of the CPM bottom line.