alternatives federal credit union founded 1979 $83 million assets 9,800 members
TRANSCRIPT
Alternatives Federal Credit Union
•Founded 1979•$83 million assets•9,800 members
A Comprehensive Approach
• Education and Community Service– Individual Development Accounts (IDAs)– VITA (Free Tax Preparation)– Business CENTS – Financial and Housing Counseling
• Loans– Mortgage / Consumer / Business
• Deposits– Eliminate barriers– Free Checking, No Minimum Balance
Growth in Total Assets
Year end 2008
2010 2013
$ 55.7 million $ 66.5 million $ 83.4 million
Why Members Choose Us?
- Genuine Brand- Welcoming Environment- Customized Products and Services- Cultural Diversity- A Member Experience Others in our market can’t
duplicate
Brand MapAlternatives
Positioning Statement:“Where Good Things Happen”
Archetype: Community Minded,Caregiver
Values:Innovative, Empathetic
Community-MindedEducation / Empowerment
Target Audiences:•Underserved in Region•Sympathetic to Mission
Category Descriptor:•Banking for You!•Personal Finance/Community Action
Hybrid
Hot Buttons:•Banks impersonal, disregard
outside target marketAlternatives is
Community Focused and Responsible
Purchase Factor #1:Specific products &
flexibility to move peopleof modest means along
Credit Path
Purchase Factor #2:Feel of community
ownership/integration
Purchase Factor #3:•No surprises, problems
resolved easily•Fast, efficient, accurate
service you can trust
Benefits
Tangible Intangible-Customized products, fair rates Trust, supported - Problems resolved easily Cared for- Personal Service and education In control- Locally focused, support neighbor Contributorby choosing us
- Integration w/community services Understood
• New technology supporting Alternatives programs– Convenient Electronic Access– Potential branching
• Staff training
Increasing Our Impact