Growth strategies

When $984-million First Entertainment Credit Union was seeking to generate $5 million in auto loans and to raise its awareness among potential members within the local community, it decided to face the music.

Spire FCU has found a way to lift attendance at its annual meeting from 150 people to more than 1,000.

Diamond CU developed a “lending roadmap” that it credits for 9% loan growth the first half of the year–without any rate promotion.

An investment in marketing by Upper Cumberland CU has jolted lending and led to a tripling of ROA in one year.

Brewery CU has shifted its efforts from serving the Brewery Workers Union to finding creative ways to bring financial services to poor and underbanked communities, earning it a Best Practices award from Credit Union Journal.

Spotting a need in its market for a no closing cost mortgage, Associated CU here launched its own, netting nearly 300 loans, more than 85% of which were new to the CU.

GFA FCU has seen increased efficiencies and savings of more than $54,000 since shifting to a “Lean” culture.

CHICAGO – Alliant CU announced this morning it signed with LPL Financial to provide its members with third-party brokerage, wealth management and trust services.

NEW BERLIN, Wis. – Giant Landmark CU, the product of 10 mergers the last three years, has agreed to acquire Dodge Central CU, a healthy $52 million Beaver Dam credit union with branches in four Wisconsin communities.

WINSTON-SALEM, N.C. – A lucky member of Truliant FCU will get to skip mortgage payments for a year courtesy of their credit union.

The Kansas CU Association is preparing to embark on a lengthy branding campaign.

The challenge in recruiting young people in the coveted Generation X and Y were on full display during a live focus group here last.

WINSTON-SALEM, N.C. – Piedmont Advantage CU will enter nearby Wilmington with the acquisition of East Coast CU, a $9-million credit union with a single branch.

FAIRBORN, Ohio – Wright-Patt CU has launched the fifth year of its Savings Race, this time with a grand prize of $10,000 going to a college-bound student to help them pay tuition costs.

LIVONIA, Mich. -- The Michigan CU League is expanding its $100,000 Save to Win lottery this year by adding more $10,000 prizes and by offering the SaveUp Rewards program as an adjunct.

WASHINGTON – The end of the elections season and impending lame duck session of Congress have done little to lessen the bankers opposition to the member business loan bill, even as the credit union lobby tries one more time to get a “yes” vote in Congress on legislation to raise the MBL limit.

EL PASO, Texas -- GECU is looking for good-looking El Pasoans to participate in a photo shoot for new a new marketing campaign.

ALEXANDRIA, Va. – One lucky member of CommonWealth One FCU won a seven-night cruise for two to the Bahamas valued at up to $3,500.

COLUMBIA, S.C. – Lucky students at the University of South Carolina are looking for “The Garnet Ticket” in the daily campus newspaper, the Daily Gamecock, a 13-week promotion enabling winners to exchange the ticket for $100 in cash from Carolina Collegiate FCU.

NEW YORK – The vast majority of credit unions with a social media program, 94%, say they have a Facebook page, but a growing number are planning a Twitter campaign, according to a new study issued by Financial Brand, an online marketing publication for credit unions and banks.