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What Consumers Really Think About Credit Unions

Mon, May 15, 2017

The DC Chapter of MD|DC CUA held its Annual Meeting last week. John Bratsakis serves on the Advisory Committee for CUNA’s Credit Union Awareness Initiative and provided members with an update on the effort.

Bratsakis gave an in-depth overview of the planning process, market research, initial results, and preliminary planning for the awareness initiative. He emphasized that the initiative is committed to creating a brand platform for credit unions to promote awareness, rather than a marketing campaign with a shorter life cycle and less impact.

Bratsakis outlined results from member-and non-member market research that identified strengths of credit unions as friendly, trusted, on the side of consumer, and a provider of good interest and loan rates. Bratsakis also shared 4 myths that are obstacles for mainstream consumers, including the belief that most consumers cannot join credit unions, credit unions exist for those in need, access to money in credit unions is difficult, and credit unions are too small to benefit most consumers.

For more information on the Credit Union Awareness Initiative, please visit: https://www.cuna.org/awareness/