Credit union and banking officials are combining digital forces this week at the #BankSocial Conference in Miami, Fla. The purpose, to create an organizational culture, innovation, engagement and strategies revolving around social media efforts in the highly-regulated financial landscape.
Breakout sessions on the first day included “Creating a Culture of Social Media and Innovation.” According to Katelin Swieka, AVP of social media and brand communications manager at Avidia Bank, financial institutions not fully invested in social media, are missing out on engaging with the public.
“If you're not letting your employees be part of your social media plan, you're missing out. Because social media is a great way to contact a consumer and make them your brand ambassador,” said Swieka.
The days are gone when organizations should focus on follower growth as a way to measure social media success. “Instead, focus on the valuable connections that you have,” said Swieka.
Royal Credit Union held a social media workshop session at the event, which focused on the engagement factor.
Andrea Finn, Digital Marketing Manager at Royal Credit Union said, “Members are reaching out to us. They want a response, fast. And social media can be their preferred method.” In fact, according to Finn, “Royal Credit Union treats social media as our front line – we treat social media like we treat our call center.”
Social media employee education holds a high place for Avidia Bank. CarrieAnne Cormier, vice-president of retail and digital strategy emphasized, “Don't post about rates or products or services – train your employees!” Regulations and disclosure rules are somewhat clear for the social media efforts of credit unions and banks. “But a real problem is having a compliance staff able to handle the new workload of social media compliance and risk,” said Swieka.
Cormier and others agreed that it's an impossible task to try and regulate what employees are doing on their personal social media pages. “Create a strong social media policy to take care of any questions employees have so the lines to not cross are clear,” said Cormier.
Experts at #BankSocial believe social media has grown past the importance of the brand you're trying to represent, and should be focused on the people you serve.
“If you know your audience, you are better able to connect with them,” said Megan Larson, Marketing Intern Team Lead at Royal Credit Union. Because your social media audience will come to rely on your credit union.
“Be consistent with your posts,” said Finn. “We post every single day since January of 2013, having that consistent message and voice behind it.”
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
