Watch the full recorded webinar here:
When a national survey was done of credit union marketing teams on their top goals and challenges for 2025, these 5 key takeaways presented themselves:
Most Credit Unions are trying to grow memberships among younger demographics like Millennials and Gen-Z. For many CUs, their bread and butter is aging out and replacing those people with young, up-and-coming professionals is going to be key.
An overall priority of driving Loans and Credit Applications has been identified as a key in providing security in an uncertain future
Enhancing relationships with current members and growing service lines among single-service or loan members was also echoed as a key opportunity for growth
The above initiatives were also met with challenges, chiefly having flat or even reduced marketing budgets to complete these initiatives with. And at times even downsized or smaller teams that have less time to spread around
Therefore, it’s also been highlighted that making sure marketing resources are being efficiently utilized has also been identified as paramount.
Wheeler Digital is, of course, happy to help your credit union with any of the above challenges and anything else that you might need in the marketing realm. But for now, let’s look at some data to determine the behaviors and the most valuable platforms to reach both current credit union members and people considering switching!
Looking at the below advertising response survey for Credit Union Members in Virginia, it’s clear that things like E-Blasts, Google AdWords, Social Media ads, Banner Ads, Natives and Online Audio ads in podcasts are key ways to communicate with that audience. They are much more likely to respond to those advertising types than traditional audiences in the state.
Here are some other key stats to know about current Credit Union Members in VA, specifically what they did AFTER seeing a digital ad:
40.5% Clicked on an online ad
54.7% Did an internet search
42.6% Visited the credit union’s website
16.6% Called or visited a branch
30.9% Checked reviews of the credit union
29.8% Bought the product or service being advertised
And if your credit union is on the fence about incorporating OTT and streaming TV ads into your marketing mix, consider these stats! Credit Union Members in Va are:
21% more likely to watch an online-streamed video in the past 30 days
34% more likely to purchase a product after seeing an OTT ad
47% more likely to watch a free streaming ap with paid commercials rather than a paid subscription with no commercials
Besides the best ways to reach current credit union members, we also have some valuable insights into people that are likely to switch their financial institution next year. For example, when people who identified themselves as likely to switch were asked the primary reasons they would consider choosing a credit union, they said:
Transparency/No hidden fees
Customer/Personal service
Mobile Application capabilities
Easy access to account info
Local branches near home/work
If these are the key difference makers for Bank Switchers in VA, maybe you should be playing up these advantages in your digital ad creative! And as for the advertising forms that these Bank Switchers prefer, the order may be different, but the platforms determined as most effective are the same as before:
If this information was helpful, we hope that you’ll watch the full recorded webinar that you can access below. And we also hope that you’ll contact Wheeler Digital to let us take a look at your specific credit union and come up with a customized plan to fit your goals, challenges and budget. No matter your situation, know that Wheeler is here to help!
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