People historically consider credit unions trustworthy over large corporate banks because of their union-like structure that prioritizes collective financial success.
Given today’s economic uncertainty, reinforcing trustworthiness is more important now than ever. Marketing leaders within credit unions should be amplifying their trust and loyalty messaging to ease members’ financial concerns.
Marketing Themes to Build Trust in Your Credit Union
Your marketing materials should deliver an overarching message of confidence for your members — so they never have to ask: “Are credit unions trustworthy?” The following four tactics are the best way to build confidence throughout your marketing materials.
1. Encourage financial literacy
Since millions of people struggle with a lack of financial literacy, they rely on credit unions, conglomerate banks, or other financial institutions to act in their best interest.
Credit unions can use this opportunity to stand out compared to alternatives by providing resources for customers that helps them understand where their money is going. By looking out for them, your union members will feel more loyal toward your brand, and you’ll also help them be more tactful with their spending.
As you create educational marketing content, focus on providing information about building credit scores, saving for milestone purchases, and other essential life events that make everyday consumers feel like you are on their team.
2. Highlight ease of access to your services
People want to feel confident in their institution every time they make a deposit or withdrawal. Being transparent about the access and availability of your various financial services can ease members’ minds.
Be clear in your marketing about how your financial services work, and the ways in which your customers can utilize a credit union to their advantage. By understanding the scope of your capabilities, future and current members will see they’re in the hands of a sophisticated organization.
3. Be honest about the economic situation
Positivity can be a strong branding sentiment, but blind optimism doesn’t help anybody. The average consumer is dealing with skyrocketing inflation, unreachable living expenses, and dwindling government support. The public doesn’t want their financial partners to gloss over the situation — rather, they want to see you address it head-on.
Providing that level of honesty doesn’t mean you’re a doom-and-gloom brand. Rather, you can identify the most common concerns brought on by uncertainty — inflation, saving for big purchases, etc. — and provide solutions to each common consumer issue. Doing so makes you more approachable as a brand, highlighting your honesty during pressing economic times.
4. Emphasize financial security and business longevity
Financial institution failure is always in the back of members’ minds, although they hope it’s something they never have to think about seriously. But if you can confidently reassure them that your business — and by proxy, your members’ money — is safe, you’ll never have to face losing their business.
How Power Marketing Helps Credit Unions Build Trust
Power Market has over 25 years of experience serving brands with superior marketing that keeps our clients head and shoulders above their competitors. If your credit union needs help creating strong messaging that establishes trustworthiness during economic uncertainty, reach out to us today.
