Relaunched CU Marketing Program Shows Signs of Success
Officials report an increase in membership in states where the Credit Union Awareness program has launched.
Five months into the relaunch of the YourMoneyFurther.com campaign by CU Awareness LLC, officials reported Monday that they have found an increase in credit union membership in states where the marketing program has launched.
CU Awareness LLC, a wholly-owned subsidiary of CUNA, initially activated the awareness campaign in early 2019.
According to Monday’s update from CU Awareness LLC Executive Director Chris Lorence, in states that have executed the awareness campaign, credit unions have experienced 20% more memberships each year “and acquired 1.2 million more members in aggregate than non-participating states over the same period. Analysis of membership data since the launch also indicated that nearly 60% of participating states experienced a growth rate of 10% or higher.”
Lorence said, “In just a few short years, participating states have seen significant membership growth. We are excited to see these results and look forward to continuing to grow the program and connect even more qualified consumers directly to credit unions.”
According to Lorence, more than 1,000 credit unions in 34 states have participated in the awareness campaign since 2019.
“When the program first launched, there was an expectation that ‘a rising tide lifts all ships,’ and now the growth in membership in participating states proves this point,” Ron Smith, president/CEO and chief security officer of the Nashville, Tenn.-based Enbright Credit Union, said. “This program helps our industry attract the next generation of credit union members – millennials and Gen Z.”
Lorence stated that more than 14 million consumers have used YourMoneyFurther.com to research the benefits of credit unions in 2022.
During the early days of the pandemic, officials paused the awareness campaign to readjust the messaging to consumers as lockdowns and work-from-home behaviors changed everyday life.