The credit union difference is going to resonant with some – for some people it IS the deal. They want to be part of something different than a bank.

But far more people are going to come in because of the “coupon,” i.e., better rates.

IMHO the place to hit the difference hard is with people with one foot in the door – indirect lending members. They already have a relationship, but it’s very underdeveloped.

Frankly I think the national branding effort can’t work – we’ll never have the $$. You need the power of editorial (news, bloggers, reporters) to convey the difference to chip away at it, then encourage CUs to use follow up ads to connect the dots. Earned media has done more to position the CU brand in the last two years than any branding campaign could hope to do.

Now what can we do to continue, magnify, and exploit that conversation?

A couple of additional thoughts for the discussion…

1. There are multiple groups of consumers to whom CUs appeal and one of them is the group who sees the principles of the business as important. It might not be the most profitable segment in the eyes of some, but it is one of the most powerful and important…these are the folks who step up as volunteer leaders, who become ambassadors for the CUs to which they belong, and generally help the entire credit union industry as they talk about their experiences and share their stories.

2. There is also a strong and large segment that cares primarily about convenience and the things Kerri suggests. They also tend to listen to the recommendations of others and check the ratings that people give businesses when they make their buying decisions. They need to hear the stories of how CUs have changed people’s lives…the real world stories about single mothers who kept their homes because CUs helped them, about people with poor credit who turned to a CU that helped them reshape their futures, and about the special moments that CUs create by delivering excellent member service experiences.

3. Underlying it all is the need for a better understanding of what a CU really is, what it stands for, and why it matters. A national branding campaign may or may not be able to achieve this, but that doesn’t mean that individual CUs can’t tell the story using Josh’s suggested approaches.

The bottom line is that is not about whether CUs are better than banks, it is not about whether the rates are better, and it is not about whether people believe in the underlying foundations. It is about the way that CUs commitment to serve is understood, demonstrated, and communicated every day to every person whom the individual or global CU brand touches; and it is about creating people who are committed to helping the CU grow by not just saying nice things, but by actively encouraging others who can benefit to take action and join a CU.