For credit unions, it takes a concerted effort to use social media effectively and get results. It requires integrating new channels with traditional marketing and communications and with branding strategy. Many of the challenges associated with launching an effective social media initiative are addressed in Filene's free report, available on cutimes.com.

Using surveys and online content analysis of 157 credit unions, and qualitative interviews with leaders from many of them, the report describes how credit unions can integrate legacy member service relationships with social media. Moreover, identifying the appropriate measurements of success is equally important.

Facebook is used by credit unions and is seen as the most effective social media channel. Merging a richer, more static Facebook presence with more staccato-like updates will help keep your members grounded in your main page. Your credit union's Facebook page will become the nexus connecting your members to your other channels and, more importantly, to your own website.

One of the underlying social media challenges for credit unions is that of demographics. Credit unions report that their social media efforts are aimed at young adults but that most of their interactions are coming from older existing members.

Social media is no different from regular media. It will not bring in prospects by itself; it requires effective targeting and a relevant message.

To read more about how credit unions can enhance their presence on social media, download the Filene report, From Presence to Purpose: Developing Social Media Strategies and Metrics for Credit Unions. Simply click on "download" to access your copy of the report.

The report can be found at CUTimes.com/Filene.

Manpreet Nat is a research associate at the Filene Research Institute. He can be reached at 608-661-3752 or [email protected].