WEST PALM BEACH, Fla.-The next 12 months will continue to challenge credit unions to devise business development strategies on a shoestring, and look for cost-effective ways to reach out to current and prospective members.

CU Journal asked four members of CUNA's Marketing and Business Development Council, and all agreed that bottom-line pressures have changed-and will continue to alter-business development strategies. A much greater emphasis will be placed this year on social media-and members themselves-to spread the word about credit unions, and CUs will be tasked to closely measure what they do.

The CUNA Council team agreed that business development strategies will also focus on retaining members that have joined the credit union due to their dissatisfaction with banks.

"Credit unions need to work hard to keep those members from going back once the banks straighten themselves out," said Sean McDonald, director of business development and marketing at Liberty Savings FCU in Jersey City, N.J. "It's all about adding value. You have to give members a reason to stay, and that starts with service."