Credit Union Organizational Structure: Challenges Abound Within the Financial Services Industry As credit unions and community banks grow, staffing tends to expand along with the FI's total assets, and this can sometimes lead to a counter-intuitive segregation of duties. This is not a problem that is specific to only CUs, but one that is often faced as many kinds of businesses expand and add new staff. We’ve seen many medium to large FIs where digital responsibilities were grouped with mobile banking staff, programers or other IT personnel, outside of marketing or communications departments. We’ve also seen CUs with too many staff in the mix, leading to a lack of a clear chain-of-command and thus failing to adequately follow-up on what is or is NOT being accomplished.
Are you wondering how to help your financial institution better compete in the changing online banking landscape? Maybe you're concerned that the shift of consumers toward Fintech online-only banks might eventually drive your FI out of business? (If not, maybe you should be concerned.) Well here's a few tips for how to position your institution for Fintech [Olympic] success! 1. Training is Key In the regular Olympics it takes years of training for athletes to reach their peak performance level. But in today's consumer banking environment, most FIs don't have years to get their act together.
This e-Book will help you find the best ways to maximize your digital presence, reaching new potential members while increasing your share of wallet for existing members.
Case Study of FinancialEdge CU “Social Stairway was an absolute dream team to work with. Even though our Credit Union only did the 8 week program, I got so much out of it to continue what they helped us start. The incredible women that run this company are extremely knowledgeable and so thorough! Every step of the way is so well planned but also flexible if need be. I would definitely recommend them to anybody looking for a social media or content marketing overhaul.” - Alyssa S., Marketing Assistant, FinancialEdge Credit Union Dates of Service: September-November 2017
If your financial institution hasn’t implemented an inbound, content driven sales and/or marketing strategy, you’re not alone, but you are a little behind. No worries though, it’s the beginning of a New Year and there’s no better time to add an inbound strategy to your strategic initiatives. Inbound marketing (and sales), often referred to as ‘content marketing,’ consists of publishing content in the form of blog posts, e-books, templates, financial guides, infographics, video, and even podcasts so these content pieces are available in search results. Providing this content allows users the opportunity to engage with you, recognize that you’re available as a financial solutions provider, and generates “warm” leads for your sales team (read more about Content Marketing Services here).
Believe it or not, not all good marketing ideas for credit unions should come from other credit unions. Because Instagram is so new for CUs, I would venture to say that creating effective content ideas for this platform are even more challenging. At Social Stairway we follow MANY different IG accounts for inspiration… and we wanted to share a few with you! So, here are a few you might want to consider following for ideas to include in your next CU campaign. And believe it or not, NONE of these are other CUs!
Setting SMART Goals for Career Success Staffing firm Accountemps recently surveyed more than 1,000 workers across the country, and 93 percent said goal setting is important to their on-the-job performance. While more than half of professionals (51 percent) discuss goal progress with their manager at least monthly, 11 percent never broach the topic. Younger employees place more emphasis on work-related performance goals, the research found.