Corporate governance

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.

PEORIA, Ill.-A $7-million bonus dividend can go a long way toward retaining members, attests CEFCU, which plans to emphasize its year-end payout in promotions to potential and existing members.

GAINESVILLE, Fla.-In a sand state economy, cross selling services to drive deeper relationships takes on a much different flavor, according to Florida Credit Union.

BATTLE CREEK, Mich.-Kellogg Community FCU plans to work even harder to maintain its image of a financial partner that delivers fast decisions and helps members make the right choices with their money.

WYOMISSING, Penn.-Discovery FCU has experience handling new members who simply park hot money, having run a 10% six-month CD a few years ago that still has the credit union weeding out dormant accounts today.

CINCINNATI-A new, high-rate checking account is helping Kemba CU sign up new members and retain them.

MASSILLON, Ohio-Massillon Area CU is keeping its foot on the gas, tripling its marketing budget, to retain members after a year in which the credit union grew net new members by 28%.

END, Ore.-Include MidOregon CU among those that believe 2010 is the year to add services to keep members.