Welcome to this episode of Credit Union Conversations with Mark Ritter, where we delve into the strategies that set credit unions apart in a competitive financial landscape. Today, Mark is joined by Bill McKenna from McKenna Marketing, who brings a wealth of experience from the advertising industry to the credit union space. Together, they explore the critical importance of building strong, core relationships with members, ensuring they feel valued and connected to their credit union. This connection is essential to prevent members from seeking alternatives and to maintain their loyalty. Bill shares actionable insights on branding, the challenges credit unions face in attracting and retaining members, and the evolving needs of the credit union community. Tune in as they discuss how a well-executed vision and a focus on member relationships can propel credit unions to the forefront of the industry.
IN THIS EPISODE:
- [0:24] Mark invites the listener to check out MBFS, which is an a la carte service provider
- [1:22] Mark introduces Bill, and he shares his journey from the advertising business to the credit union space
- [6:22] Bill describes what McKenna Marketing does, and Mark and Bill discuss the evolving credit union from days gone by
- [10:29] Bill discusses four topics that will remove obstacles and make way for the growth of your credit union, and they discuss which credit unions need deposits and not loans
- [15:37] Bill outlines the problems credit unions are having in attracting new members and keeping the members they currently have
- [19:20] Discussion surrounding competition and rising to the top of the competition
- [25:04 Discussion surrounding the sales and service culture and the benefit of face-to-face consultations
KEY TAKEAWAYS:
- The branding of your credit union is critical for recognition to your community
- A credit union must have a vision of where they are going, understand what opportunity looks like, and determine whether it can be a reality. Then, you must execute those ideas
- Building a relationship with members is the most essential thing a credit union can do. People want to know that you care about what’s important to them, so create value in your marketing message
RESOURCE LINKS
BIOGRAPHY:
My passion is to learn more about you and your companies' goals. I'm passionate about building relationships, starting conversations, sharing ideas, and adding value to your organization. I've learned first-hand that no one person has all the answers. I'll learn from you first then we will combine our knowledge, experiences and expertise with the right partners to magnify opportunities, empower growth, and achieve results.
I've had the privilege of working with more than 500 credit unions and community banks nationwide on marketing and growth strategies. I don't know everything, but I've seen first-hand what works, and what does not. Every partner I've chosen to be part of McKenna Marketing Network brings a wealth of expertise, experience, vision and insights. It's not one size fits all - It's about identifying what works for you.
My roles have including Art Director, Creative Director, and Vice President of Marketing and New Business Development for several marketing and advertising agencies located in New York, New Jersey, and Pennsylvania.
I'm the former President
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