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5 Things You Should Know About Credit Union Marketing Budgets

Monday, April 22, 2013 - 7:21 AM
Credit unions were once seen as a quaint, sleepy little corner of the financial industry. Not anymore. The top 10 credit unions invest $155 million annually on marketing, and the top 100 credit unions spend a combined $400 million on advertising and related educational expenses.

5 Things You Should Know About Credit Union Marketing Budgets | The Financial Brand: Marketing Insights for Banks & Credit Unions
4
ShorebreakShorebreak2,608 posts since
Apr 6, 2010
Rep Points: 14,146
1. Monday, April 22, 2013 - 5:25 PM
Why don't they spend less money on marketing and give higher interest rates if they want more depositors?  Isn't that the idea behind "marketing"?  With the rest of the banks and CUs crashing rates, can you imagine what a flood of deposits a CU would have if they posted a 3% 5 year CD?
1
paoli2paoli21,370 posts since
Aug 10, 2011
Rep Points: 6,005
2. Monday, April 22, 2013 - 7:51 PM
Then that CU would have to try to figure out how to make money lending out money at 1.75% while paying 3% on certificates of deposit.
1
ShorebreakShorebreak2,608 posts since
Apr 6, 2010
Rep Points: 14,146
3. Monday, April 22, 2013 - 9:13 PM
Then, who are they spending all that money marketing for.  Borrowers or Depositors??  Oh, I forgot.  They want "us" to take .50% for CDs so they can make lots of money loaning it out at 1.75%.  How stupid of me to forget how the game is really played with savers as pawns.
1
paoli2paoli21,370 posts since
Aug 10, 2011
Rep Points: 6,005
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