Inside Marketing: Help Members Improve Financial Health Through Digital Engagement

young businessman works on tablet while laptop on desk displays message "We Can Help You"
By Amber Bush

3 minutes

Your credit union has the education and management tools members need—make sure they know about them by leveraging blogs and social media.

Financial wellness continues to be top of mind for consumers today as many feel lingering impacts of rising interest rates and inflation on everyday necessities. But with the growing number of different financial education and wealth management tools and (often conflicting) advice available, it’s common for people to become overwhelmed when trying to manage their finances and improve their financial health.

That’s where their trusted credit union should come in: Most credit unions have plenty of tools and an abundance of guidance to share when it comes to financial wellness. However, members aren’t always aware that these resources exist or how to access them. Credit unions have an opportunity to leverage digital communication channels to reach their members and support them with pertinent resources and advice. Such efforts can also result in boosted member engagement and loyalty.

Bet on the Blog

A blog is a great place to house resources that delve into a wide variety of financial topics in a succinct, easily digestible way. Such valuable topics as what rising interest rates mean to members, comparisons of different types of savings accounts and tips for getting out of debt more quickly can all be explored effectively in a blog format. Plus, this is a great avenue for credit unions to place relevant call to actions, sharing available tools or highlighting who at the credit union to contact for more information.

Of course, much like the financial tools, a credit union’s blog can only be beneficial if members are aware it exists. Sharing the blog via email blasts, social media posts and even signage in-branch can help spread awareness and drive engagement.

Leverage the Power of Social Media

While members of all ages have a need for deeper support around financial wellness right now, younger demographics such as millennials and Gen Z tend to have an especially critical need. Many are facing important financial milestones—opening a first credit card, navigating student loans, applying for a first car loan or mortgage, planning and saving to send kids to college, etc. To effectively engage with this audience, credit unions must meet them where they are. For the majority of this cohort, that means on social media.

Facebook, Instagram and even TikTok can be powerful vehicles to share important financial tips and how-to’s, such as quick explainer videos and details about what programs or resources a credit union offers. Chances are, younger generations that are actively seeking financial advice have already turned to their social network or influencers. By establishing a social presence for your credit union, you can help ensure members have a reliable source for financial advice—in their preferred format.

Share Success Stories

Members want to hear and learn from their peers. Highlighting the success stories of members who have effectively leveraged a credit union’s advice or financial wellness tools to improve their finances or achieve a goal like homeownership is likely to have a more significant impact than any other type of outreach. Sharing these stories is a way to recognize members and inspire others, building comradery and creating a greater dialogue around financial health and wellness. Both a blog and social media channels are strong methods to share these stories (with permission, of course!)

“People helping people” isn’t just a string of words—this philosophy is a way of life for credit unions. In this uncertain economic climate, members need support and wider access to financial resources. Leveraging the power of digital communication channels to share relevant information and success stories can go a long way in helping members improve their financial fitness while also building lasting member loyalty.

Amber Bush is a group director at William Mills Agency, the nation’s largest independent public relations firm focusing exclusively on the financial services and technology industries. The agency can be followed on Twitter, Facebook, LinkedIn or its blog.

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