JERSEY CITY, N.J.-Sean McDonald, director of business development and marketing at the $54-million Liberty Savings FCU in Jersey City, N.J., believes that more credit unions will come to understand that they don't have to spend a "ton" of money to develop business.
"You can use your current membership to promote the credit union, and I think we will see much more of that." McDonald emphasized that a platform of superior customer service is the foundation for any effort that relies on members to advertise the CU.
Credit unions will also make better use of their websites. "It doesn't cost a lot to introduce a new product and simply promote it on your site. You don't have to do direct mail for every new offering," said McDonald, who also expects that more credit unions will be seeking to grow organically.
