The credit union said it attracts new members primarily from city and state employers. It offers mortgages/HELOCs, investment services, business banking, auto loans, checking and savings, EMV-chip credit cards and debit cards.

Hawaii State FCU said it's experienced better engagement with members through social media by mixing practical financial literacy tips, community benefit news and member events with product promotions. This approach, Rosen said, resulted in unprecedented interaction and reach within its community.

"In 2013, we started to pay more attention to social media as a main fixture of our marketing efforts and focused on developing and implementing our content strategy," Rosen said. "Since then, we've seen steady month-over-month growth."

What led the credit union to engage members via social media? "We value strong relationships with our members and strive to communicate with them effectively and authentically," Rosen said. "We are always looking for different ways to reach our members, understand their needs, hear their feedback, and provide them with valuable information."

Rosen said the credit union explored using social media as a way to reach members who preferred digital communications, seeing it as an opportunity to build its own online community and engage with members on a regular basis.

To make sure everyone operated from the same page, the credit union developed a social media policy and plan.

Hawaii State FCU trained its staff to be sensitive to members' privacy concerns, even when staffers used their personal social media accounts in the office. "We're a financial institution that deals with sensitive information, so we need to be careful that our employees are using social media appropriately in the office," Rosen explained. "Our official social media policy protects the credit union and its members, but more than that, we've established a culture that places member privacy above all else."

In addition, only a small group of employees on its digital communications team is able to post on behalf of Hawaii State FCU. This allows the organization to keep its brand voice consistent and guard against inappropriate content going public. That small group manages "everything from strategy to scheduling and writing our posts, and mapping out a healthy mix of educational, promotional, community, member-focused and multimedia content," Rosen said.

"In Hawaii, our culture is close-knit and community driven, so our team focuses on providing content that is relevant to our members and shows a sense of place," Rosen said. "We're not just about pushing products or services. Our content positions us not just as our members' financial institution, but as a part of their community."

For Hawaii State FCU, social media has primarily been an extension of its "Always right by you." slogan.

"Through Facebook, we're able to share news and information, provide personal finance education, talk with our members and build that financial partnership, right from their smartphone," Rosen pointed out.

The credit union also posts and promotes content that complements its current advertising strategy and promotions, which it believes extends its reach in a way that is more organic and engaging, not salesy or preachy.

Social media also helps credit unions market to thousands of people they could not reach otherwise, Rosen said.

Hawaii State FCU's social media strategy has two objectives: To engage and build a community for current members, and to increase brand awareness among potential members.

"Targeted ads and boosted posts have helped us reach audiences that may not have been as receptive to a direct mail piece or TV commercial," Rosen said.

As for its members, millennials in particular seem particularly drawn to content on online banking, mobile apps and other features that will help them manage their accounts securely and conveniently. "Their familiarity with digital platforms, and our ability to communicate with them in real time, provides many more opportunities to show how we can be the right financial partner for them throughout their various stages in life," Rosen explained.

The strategic use of social media with analytics can significantly help credit unions engage their member communities in a new way and influence how to market and sell products to them.

However, there is much more to effective social media marketing than simply setting up a Facebook page with the credit union's name slapped on it. That is why the credit union chose to place its greatest emphasis on Facebook because of the useful feedback it's gained through Facebook's Insights, an analytics app. This allowed the organization to engage members and observe member interaction more carefully than with traditional media.

"As a data-driven organization, we utilize digital analytics daily to sharpen and optimize our social media channels and shape our content strategy. Through Facebook Insights, we monitor engagement levels, measure the effectiveness of ads and boosted posts, and identify the types of content that make our members stop and take notice," Rosen said.

Rosen added that social media is the most flexible part of the credit union's marketing strategy, allowing it to adapt to the changing needs of its members quickly.

The credit union has seen positive analytical results, he reported, though even more important was the level of engagement the credit union saw from its members.

"We have a very active and passionate Facebook community that we engage with daily, responding to every question, comment and review," Rosen said.

He pointed out the credit union's members have a number of companies vying for their attention on social media, so Hawaii State FCU strives to provide valuable information that has a place in their lives, whether it's financial planning advice or a member event in their community.

"We see our relationship with our members as an ongoing dialogue, and social media is just one part of the conversation," Rosen said.