How do credit union members respond to advocacy-related communications from their credit union? Does talking about advocacy efforts improve - or hurt - members' relationship with their credit union? Groundbreaking research by the Credit Union National Association (CUNA), in collaboration with CommunityAmerica Credit Union (Kansas City) and University Federal Credit Union (Austin, Texas) is providing some answers - and the results might be surprising.
CommunityAmerica Credit Union and University Federal Credit Union reached out to nearly 70,000 credit union members during the extensive research study.
CommunityAmerica CEO Dennis Pierce presented findings of the research during a briefing at the CUNA Governmental Affairs Conference (GAC). Credit union CEOs attending the GAC were encouraged to participate in the CEO-only briefing on the Member Activation Program (MAP).
“For a long time, we’ve heard credit union leaders say it’s a bad idea to communicate ‘too much’ with members, and that talking about advocacy issues just makes members angry,” says Pierce. “This study actually shows how members react to advocacy outreach and the impact on their business relationship with their credit union. This will help credit unions move forward as an industry to address any concerns and be more proactive in advocacy efforts.”
Following the GAC, the Missouri Credit Union Association (MCUA) intends to share the information provided at the GAC MAP presentation with member credit unions, and help provide ways for credit unions to incorporate the lessons learned during this study.