WINSTON-SALEM, N.C. - Some people may just titter and then toss aside the notion of Twitter, but a few credit unions are serious about the social networking site. (See related story, page 25.)
“Twitter has put me a click away from brilliant CU minds,” said Matt Davis, director, public relations at $200-million Members CU here, who “tweets” as “CUWarrior.”
Twitter is an online community that revolves around the question “What are you doing?” Users share everything from their business plans to their life dreams and morning routines with their fellow “tweeters,” or “followers.” The catch: all tweets must be 140 keyboard characters or fewer.
Though the Web is awash in nifty new social media, Twitter has found its niche, according to Matt Fagala, CRM director at $500-million Vantage CU in Bridgeton, Mo.
“Sites like Facebook, LinkedIn and MySpace take a little more time to maintain and update,” said Fagala. “Twitter works well with SMS text on most cell phones and doesn’t need a fancy interface to be successful. Portability is key.”
Davis credits Twitter with helping him launch Member CU’s “What Are You Saving For” program, which features a high-dividend, prize-based, social-media inspired savings account.
“My Twitter friends talked me though some of the most integral aspects of the program,” which includes a blog, branding, video, calculators and a badge for Facebook and MySpace users, Davis explained. “The whole project ended up being a collaborative effort–and frankly wouldn’t have come together without my Twitter contacts.”
UTFCU in Knoxville, Tenn., sees Twitter as a way to engage Gen Y, said Brandon Ballentine, interactive technology manager at the $157-million credit union.
“When used in conjunction with additional Web 2.0 technologies such as blogs, Flickr, Facebook, and other services, Twitter offers a free and easy way to build an online community around the credit union, which is important in attracting younger members,” said Ballentine. “Twitter also provides an easy outlet for disseminating information, tips and rate changes immediately to our members through their mobile phones or instant messaging applications.”
UTFCU has attracted 10 followers in the 5 months it has been a tweeter, he added. “We expect that number to grow dramatically now that we’ve linked to our Twitter page from the main UTFCU website. In addition, I created a simple You Tube video explaining how to create a Twitter account and follow the credit union.”
Ballentine sees a bright future for Twitter at UTFCU. “Within two years, the role Twitter plays in our credit union may be very important,” he said. “Twitter’s open format allows us to use Twitter’s distribution method within existing work-flows. For example, we have already implemented a plug-in that automatically tweets news items as they are posted on our website.”
Not everyone agrees. Twitter is going “nowhere” in the next couple years, according to Robbie Wright, tweeter and general manager, fi-linx, the CUSO of $280-million MaPS CU in Salem, Ore.
“It is a little too focused on niches in the industry and won’t fill that many needs of credit unions,” said Wright.
Of course, there’s the lighter side of Twitter. Fagala’s favorite tweet was when he announced his son’s birth: “New VCU baby. Riley Fagala, 8lbs, 22inches. Mom and baby are doing great.”
MORE
Read more about social media at cujournal.com and search the following bolded terms in the archive:
How CUs Will Have To Reinvent Themselves To Reach Gen Y
Web-Based Social Networking Sites: It’s Not Just For Teenagers Anymore
Six CUs Use Wiki Platform As Means Of Peer Collaboration
CU Challenges Community To ‘Change Everything’
