Corporate governance

CHEEKTOWAGA, N.Y.-Andrew Godfrey has been managing Cheektowaga Community FCU for 16 years, and the family run operation is in good shape, with 14% loan growth last year, 19% deposit growth, and capital at 15.5%. Still, with the CU going to a community charter, it is looking for ways to capitalize on the opportunity, but admits it can be challenging for an $8.9-million CU to stand out. Godfrey spoke with Credit Union Journal about the challenges ahead.

TEMPE, Ariz.-During 2009, marketing budgets at credit unions declined by an estimated 13% across the country. Yet in 2010 CUNA's Marketing and Business Development Council will hand out more advertising awards than the association has in recent memory.

LONGVIEW, Wash.-Target. Target. Target. Credit union marketers can't say it enough. What's working best today-and is most cost effective, remind many, is using the MCIF to make sure promotions reach the right members.

Marketing executives discuss strategies that could do harm to your credit union's marketing efforts.

LONGVIEW, Wash.-When it comes to boosting the effectiveness of CU marketing, credit unions better get tracking.

FAIRFAX, Va.-Credit unions and their marketing firms are split on the effectiveness of social media, either jumping on the bandwagon or casting a cautious eye toward the trendy marketing that experts say that despite its perceived low costs requires a careful plan to execute and resources to back it up.

TEMPE, Ariz.-Credit unions are cutting back on one of the long-time staples of credit union marketing - but most are not cutting it out.

350 Awards Are on Tap; Marketing Progress? What About Marketshare; Problem? Lack of Authority

BIRMINGHAM, Ala.-America's First Credit Union has created a series of commercials in which bankers come clean about their sins, although they don't seek forgiveness.

RIVERDALE, Utah-America First Credit Union is a "strong relationship-based institution" with one of the lowest rates of single-service households and, in turn, a "very high rate of both services and accounts per member household of all participating financial institutions."

LAS VEGAS-During NAFCU's Strategic Growth Conference here, Credit Union Journal asked attendees what strategic growth initiatives are working for their CUs so far this year.

WASHINGTON-With public awareness of credit unions reaching a "tipping point," some are urging CUs to make greater use of their board members to represent them in their markets.

HONOLULU-The notion that membership in a credit union is restricted continues to haunt CUs well into an era of community charters and expanded FOMs - prompting one to take a direct approach to addressing the misconception.

ATHENS, Ohio-Ohio University CU has launched a new Select Employee Group Ambassador Web Portal it expects will help the CU gain a stronger foothold within the community.

MADISON, Wis.-Credit unions far outpace community and national banks in consumer perception and satisfaction, but that doesn't necessarily bring growth or market share according to a new report.

WASHINGTON-What started out as a New Year's resolution by a popular, liberal blogger has turned into a national phenomenon that is bringing deposits to credit unions.

Industry wide, credit unions last year enjoyed over a 35% increase in annual membership growth over 2008, according to data from CUNA. For the short-term at least, that should be good news. But what are the prospects for turning those "refugees" into full-fledged credit union citizens?

OSHTEMO, Mich.-Consumers CU is focusing on ways to retain members long-term, and has started to survey inactive account-holders as part of that strategy.

LAKE BLUFF, Ill.-Before rushing to sign up more members and then working to retain them, credit unions should first make sure costs are in line, recommends one industry analyst.

CORPUS CHRISTI, Texas-Wayne Vann says it's doesn't require rocket science to figure out how a credit union can effectively retain members - great service.