PayThink

I was attending a local charity event last night. It was on the 24th floor of the SunTrust Bank Building with one of the most beautiful views of our beloved city.

Are you a gifted leader? Smarter than everyone else? Trusted like Lincoln? Or, would you just be happy to look like one?

The past 10 years have seen an unprecedented wave of branching by financial institutions. With several thousand branches being opened each year at an average cost of more than $2 million, the industry is collectively wagering billions of dollars on the likelihood that consumers will continue to visit physical branches to fulfill their financial needs. But are the investments delivering the returns necessary to justify their capital investments?

The average American will spend 9-11/42 hours in a 24-hour day with some form of media, according to a report in February by MediaPost. Are you penetrating print, online and/or television to reach your members? Did you know you already possess distinct advantages you can leverage to advertise effectively?

On a recent flight from San Diego to Phoenix we were approaching the city in the Valley of the Sun, where it rarely rains. So, naturally there were thunderstorms just northwest of Phoenix and with the ride starting to get rough the captain announced that he wanted all service suspended, flight attendants seated, and everyone buckled up. As we began descending we started bouncing around pretty good when I noticed one flight attendant unbuckling her seatbelt and trying to steady herself against the fuselage wall as she reached for the microphone. Like others, I dreaded the announcement that was surely coming: "Put your head between your knees." "Call your loved ones." "Smoke 'em if you got 'em."

I am writing in response to your Sept. 14 article, "Key Lawmaker Suggests Piecemeal Passage of CURIA." The article may have left readers with the false impression that Sen. Bernie Sanders (I-VT) has "backed off" in his support of the Credit Union Regulatory Improvements Act in the Senate. I can assure you, this is not the case. Sen. Sanders has been a staunch supporter of credit unions and is always willing to call bankers to task, as he did in his GAO request to study banks and thrifts last year.

The purpose of name and logo testing is NOT to learn whether people LIKE a new name or logo. Although appeal is not irrelevant, the primary purpose of the research is to identify the attributes and brand identity that a name or logo communicates, and the extent to which they are consistent with the desired message of the institution.

A few months ago I had the pleasure of visiting Boston for the first time. Not having ever been to Boston, I chose to hit the streets and begin my aimless pursuit of a mug of Boston's finest.

In recent months credit unions have found it difficult to improve their margin position - the difference between what is earned on loans and investments and what is paid on members' deposits.

Does your credit union have various programs in place to help members with the various "steps" in their lives? Chances are you do. But does your CU also let those same members do your marketing for you by offering in-branch testimonials on how the credit union has helped them move from one step to the next? It's just as likely you do not.