small is beautiful. your credit union can remain small and successful

CUES CANADA WEST AGM | OTTAWA, ON | MAY 4, 2008

Small isBEAUTIFUL.Your credit union

SMALLand successful.

can remain

Tim McAlpine

President & Chief Strategist

Currency Marketing

+ Credit union advocate

+ Creative leader

+ Marketer + Speaker + Blogger + Cheerleader

PRESENTATIONTwo slide

FGSJF(For Goodness Sakes, Just Focus)

NLGAD(Now, Let’s Get A Drink)

REALITIESSmall

One small U.S. credit union disappears everyday

The eternal lure of economies of scale

I will give you advice on branding and marketing. I am not an accountant.

OBSERVATIONSSmall

NEWS FLASH Your small credit

union is not differentiated

If your credit union looks like a bank, sounds like a bank and feels like a bank, it’s a bank.

Think of the big banksand the big credit unions as the major TV networks

By necessity, small niche stations are highly specialized and differentiated

In contrast, this is how the financial services industry looks

from the consumer’s point of view

Quality of quantity?

BIG BOX = BIG BANK

DOES YOUR SMALL CU = SPECIALTY SHOP?

BIG=SLOW

SMALL=NIMBLE

The financial landscape is rapidly changing

The dinosaurs didn’t have broadband, what’s your credit union’s excuse?

ADVICESmall

Tune out the noise

Lead, don’t follow

Think niche

Understand your members and your marketplace

Don’t define yourself by what

you’re not

Build upon what you know

CU

BRANDSSmall credit unions

with different and relevant

Your

is critical!

1Credit union branding is

about revealing and

promoting an easily

understood, authentic

difference over an

extended period of time

LESSON

2LESSON Your credit union

difference must be

extremely compelling to a

defined group of people

3LESSON A credit union must

create and promote

compelling products

and services to thrive

4LESSON

Better does not

make your credit

union different

5LESSON

The built-in credit union

difference is no longer

readily understood and

even when it is

understood it is not

compelling

6LESSON

A credit union must actually

decide on its difference,

make fundamental changes

to support that decision

and grow into its brand

over time

6possible differentiatedbrand positions

Wealth sharer (cash/dividends/rewards)

Price leader (savings/earnings)

Innovator (products and services)

Advocate (programs and mentorship)

Agent of change (a cause to champion)

Affinity (taylored to a specific niche)

Mount Lehman Credit UnionLocation: British Columbia

Members: 1,800Assets: $40 million

InnovatorPassionate, relevant and tech savvy

Gene BlishenGeneral Manager

FirstCredit Union

Location: Powell River, British Columbia

Members: 6,500Assets: $130 million

Wealth SharerInnovative rewards program doubles share of wallet

White River Credit Union

Location: Enunclaw, Washington

Members: 7,000Assets: $40 million

AdvocateNew branch design is an authentic community gathering place

BUDGETSmall credit unions

marketing with a modest

Consider pre-designed

materials

However, ensure that pre-designed doesn’t mean generic and bank-like

PSB The Marketing SuperSoucewww.psbonline.com

NationwideMarketing Solutionswww.NationwideMarketingSolutions.com

Cuckoo Campaignswww.CuckooCampaigns.com

SOCIALSmall credit unions mastering

media

THINK Small World Web,

NOTWorld Wide Web

Courtesy of Brent Dixon from Trabian

OLD

NEW

SOCIAL MEDIA

Take advantage of

FREE Web 2.0 services

UFirst FederalCredit Union

Location: Plattsburgh, New York

Members: 3,300Assets: $20 million

Ginny BradyBoard Member

MembersCredit Union

Location: Winstom-Salem, North Carolina

Members: 50,000Assets: $200 million

Matt DavisDirector of Public Relations

Members Credit Union Football Pick’em by Matt Davis

Common WealthCredit Union

Location: Lloydminster, Alberta

Members: 52,000Assets: 1.6 billion

Certainly not small, but a good example of the potential

The Difference Between Banks and Credit Unions Part 1 by Larissa

Y&F Road Trip by Larissa

SUMMARYSmall

Create and live a relevant brand

Connect with your members in new and exciting ways

BE DIFFERENTBE RELEVANT

currencymarketing.ca/blog

currencymarketing.ca/podcast

AQ&

Thank

YOU!

Tim McAlpinetmcalpine@currencymarketing.ca

currencymarketing.ca