Did you catch this infographic about smartphone app use on Mashable a couple of weeks ago? New research from Nielsen has revealed just how much app use has skyrocketed from 2011 to 2012. Among the findings:

• The average number of apps per smartphone has increased from 32 to 41.
• Time spent on apps vs. the Web has jumped from 73% to 81%.
• The number of Android and iOS users has taken a huge leap, from 38 million to 84 million.

How do these findings affect the credit union industry? Some CU-specific research provides more insight into the increase in smartphone app and mobile use and the implications this has for credit unions.

According to the “Measuring Social Media Success in Credit Unions” report from the Filene Research Institute:

• Overall, 15.5% of credit unions report that they have developed a smartphone app.
• About 21.3% of credit unions that use social media use smartphone apps.
• App use has increased throughout the year, with 13.9% of all credit unions developing apps.

And from CUNA’s 2012-2013 Credit Union Environmental Scan (E-Scan) Report:

• More consumers will use mobile devices to obtain loans, particularly younger members. The average age of a credit union member is 47, but the average age of users of CUNA Mutual’s Smartphone Loan technology is 29. In addition, completion rates for CUNA Mutual’s mobile loan application are more than 50%, compared to 40% to 50% for all Internet loan applications.
• In a survey of 450 credit union CEOs and senior executives, 48% listed mobile banking as one of their top tech projects for 2012. In addition, 39% prioritized mobile payments.
• While mobile payment transactions already total $240 billion annually, the market is expected to double or triple in the next five years, according to Juniper Research. By 2013, one in five cellphones worldwide will use near field communication (NFC) technology; by 2014, Google estimates that 50% of cellphones will use NFC technology.

It’s clear that mobile technology is booming, and an increasing number of credit unions are diving into the world of smartphone applications, mobile lending and mobile payments. Is your credit union developing new mobile technology or experiencing success with mobile tools? Let us know in the comments!

This post was originally published on CUinsight.com.

To pin or not to pin? As the popularity of Pinterest continues to grow, that is the question many credit union professionals are starting to ask.

If you’re not already familiar with the website, here’s a quick rundown: Pinterest is a social bookmarking website that allows you to collect—or “pin”—content from around the Web to personalized pinboards. The usefulness for credit unions might not be immediately apparent. After all, Pinterest is practically tailor-made for brands that specialize in fashion, cooking, housewares, and other visually oriented pursuits.

So do credit unions really have a place on Pinterest? I would argue that they do—if you give some deeper thought to your current and prospective members’ motivation before diving in.

But first, let’s talk about some statistics. In terms of numbers, it making more and more sense to have a presence on Pinterest because that’s where the Web users are. Check out these insights compiled by Monetate, a provider of digital marketing and optimization tools:

• Estimated unique visitors to Pinterest increased by 329% from September to December 2011.

• Pinterest is now driving more Web traffic than Google+.

• The top five tips for using Pinterest include promoting a lifestyle, using it as a focus group, crowdsourcing, running contests, and inspiring your team.

So what are some specific ways that credit unions can start pinning? The key is to tap into the goals of members, and show them how your credit union can play a vital role in helping them achieve those goals.

Think about it like this: Users typically use their boards as future inspiration. They might pin images of new cars, dream kitchens, vacation destinations, or splurge-worthy shoes. Do you notice a pattern here? Your credit union can help members work toward all of these goals. You just have to position yourself on Pinterest as their biggest financial adviser and cheerleader. Here are just a few ideas to get you started:

• Create a collaborative pinboard of potential savings goals, and invite other users to become contributors. Encourage them to pin content related to whatever they want to save money for, and offer advice and feedback through comments.

• Lots of pinners use Pinterest to find creative ideas for kids. Try creating a pinboard that focuses on projects or activities that teach children about money. Or, for something more lighthearted, create a pinboard dedicated to something quirky, like unique piggy banks. A quick Web search should reveal lots of fun images worth pinning.

• Use pins to direct members to specific areas of your website. But make sure you’re actually sharing content that will genuinely interest members. For instance, does your credit union maintain a blog or write articles for members? Pin attention-grabbing images or infographics that link back to your content.

As with any form of social media, getting started with Pinterest might be a trial-and-error process at first—and that’s perfectly okay. Don’t be afraid to try different approaches and strategies to find what works best for your followers.

Have you started using Pinterest for your credit union? Share your experience with a comment!

To us ‘credit union folk’, the value of membership is rooted in our core. We know that membership to a cooperative means ownership. It means we are a part of something greater, a community of shared interest, we’re among friends. To those who are new to cooperatives, or are just now discovering the value of membership and ask us to define it– we sometimes struggle to share the warm and fuzzy feeling that we get just thinking of words to describe it!

I’ve started reading the book “Tribes” by bestselling author (and also past CUNA’s ACUC speaker), Seth Godin.  On the book-flap, Godin describes a tribe as, “any group of people, large or small, who are connected to one another, a leader, and an idea.” The book’s concept is to focus on leadership with a different spin, tribe leadership.

Win this book by sharing your examples below

As I page through the book, I am flooded with the Credit Union and cooperative parallels to tribes.  I’m amazed at the interchangeability between ‘organization’ and ‘tribe’ and ‘membership’.  However, on page 30 it really started getting sticky. Godin defines the difference between crowds and tribes.

Crowds and Tribes, he outlines, are…

“Two different things:

• A crowd is a tribe without a leader.
• A crowd is a tribe without communication.

Most organizations spend their time marketing to the crowd. Smart organizations assemble the tribe.”

How are credit unions ‘assembling the tribe’ versus ‘managing a crowd’?  How are we showing potential tribe members we’re exactly what they’re looking for?  On paper, it’s apparent that credit union membership trumps taking your money to any other financial institution. The 7 cooperative principles alone should convince any person off the street to move their money to a CU on the spot. To find out how credit unions are assembling their tribes, I started my search with ‘credit union principles’.

To my delight, I found a variety of great examples of doing it right:

Be Engaging – My favorite example of ‘assembling the tribe’ is how the crew at Seattle Metropolitan Credit Union   uses the principles as the foundation for their credit union’s blog – http://www.7principles.coop/ . The blog seems to serve as a primary communication valet for the CU’s tribe. This crowd has turned tribe with a widespread communication hub (I can also see they’re ‘liked’ by 895 Facebook friends). Also, their new ‘tribe leader’ is also featured in a recent blog post! 

Be Entertaining – One of my favorite CU videos by gira{ph}. This video spells out our CU Principles clearly in black and white (with a little red, too).

Be Fun – A great way to bring together your CU staff ‘tribe’ is to create an enjoyable work environment.  Have you seen this debut video from The Summit FCU last week? It must be gratifying to work for CU that can crack a joke, make fun videos, and capitalize on the latest craze!  With nearly 4,000 views in less than a week, the fun is definitely far-reaching.  Another fine example of assembling the tribe.

What is your CU doing to change your membership from crowd to tribe? 2012 is the International Year of cooperatives, what better opportunity to shout from the rooftops the benefits of credit union membership. Is your credit union taking this unique opportunity to engage your membership? We would love to showcase how your credit union is assembling the tribe (of membership, of staff, of potential membership).  Please share your best practices below and be automatically entered to win a copy of “Tribes” by Seth Godin. 

CONTEST NOTES: Contest begins today and ends on Wed., Feb. 15th at 11:59PM (ct). Winners will be chosen by a random number generator. Make sure you leave an email address where you can be contacted.  The winner will be notified via e-mail and will also be announced on the blog.  The odds of winning depend on the number of entrants received.  No purchase necessary to win. Void where prohibited.      This competition is offered by Credit Union National Association (CUNA) and is open to anyone who comments on this post and is at least 18 years of age. Employees of CUNA and family members of such employees are not eligible to enter.   CUNA shall not have any liability for any malfunction of or damage to the prize. The award winner may be responsible for applicable state or federal taxes on the value of the contest prize

A friend was recently hired into the credit union industry. As she got up-to-speed with credit unions she wanted to get a better sense for how financial institutions use social media and asked if I would supply her with resources on the subject.

I said to myself after replying to her request: “Self… CUNAverse readers might find this information useful!” I agreed with myself, as I often do.

So, here is a small list of online resources I track with periodically or have found to be useful. It is by no means an exhaustive list—nor an endorsement—but rather a small sampling of what I use to stay current with the credit union space and better understand how financial institutions use social media. Perhaps you will find these helpful as well.

What resources and examples would you suggest? Please share them in the comments!

Examples of credit unions using social media:

• CUNA Marketing & Business Development Council’s 2011 Diamond Award winners for Social Media
• List of credit unions using Twitter (not an exhaustive list, but gives you an idea of who and how)
• Verity Credit Union’s blog
  
• Consumers Credit Union’s blog
• Hopewell Federal Credit Union’s blog
• Southern Illinois University Credit Union’s blog
• Hughes Federal Credit Union’s Facebook page
• Truliant Federal Credit Union’s Facebook page
• CommonWealth One Credit Union’s Facebook page
• Linn Area Credit Union’s Facebook page

Resources from the credit union industry:

• Credit Union Magazine
• CUinsight
• Coopera Consulting’s Hispanic Outreach Insights
• Filene Research Institute
• The Financial Brand
• CU Grow
• CU Water Cooler
• Crash Network
• CUES Skybox
• Credit Union Exchange (Credit Union Times opinion blog)

Articles on social media and financial institutions:

• The Top 35 Banks on Facebook
• Social Media Enhances Collections
• The State of Social Media for Credit Unions
• Presentation on how credit unions should use social media from TheFinancialBrand.com
• Does Credit Unions’ Gen Y Campaign Have Lessons for Banks?
• Most Credit Unions Behind Social Media Curve
• 5 Ways Banks are Using Social Media (a little old, but still relevant)
• Social media’s Role in Crisis Management

Your CUNAverse team is excited for the upcoming year and looking forward to several improvements that will make CUNAverse a better experience for you… beginning with this post.

Take a moment to view our slideshow for our top 10 New Years Resolutions for CUNAverse. We hope this level of transparency reinforces the genuine nature of this blog, our commitment to providing you with valuable insight on all things credit union, and sets the tone in your mind for what is already shaping up to be a fantastic year.

As always, we want to hear your feedback. What do you think? Let us know by leaving a comment below.

Michelle Dosher

From Michelle Dosher:

Traditional communication channels and marketing campaigns may no longer be enough to grab members’ attention. Facebook, Twitter, and LinkedIn—just a few of the social media tools available to your credit union—can help promote the online personal finance products your credit union offers. Posting a product link on your credit union’s home page is a great first step in driving member traffic back to your website. Using social media tools is a great next step in engaging members with your products.

Posting pulls in members

Hughes FCU in Tucson, Ariz., drives traffic to its website by posting article and blog links from onlineEDGE publications—Home & Family Finance Resource Center®, MoneyMix™, Googolplex®, Plan It™, Anytime Adviser®, and El Poder es Tuyo™—on its Facebook page (search “Hughes Credit Union”). These posts link directly to the articles within the onlineEDGE publication featured.

Hughes FCU draws members from Facebook to MoneyMix on its website.

“We post links to onlineEDGE articles on Facebook because it helps us with our lifestyle marketing,” says Kathy Hippensteel, marketing manager at Hughes FCU. “We use Facebook because it allows us to have interactive communication with our members.” The credit union receives quite a few comments and “likes” about the posted articles. Since Hippensteel’s social media coordinator posts articles from different CUNA consumer publications, there is information posted for each target market. “The best thing about the products and about posting information about the products on Facebook is that it ties in with our goal of making a positive difference in members’ financial lives,” Hippensteel says.

Educators CU promotes a Youth Week activity.

The credit union also posts links to onlineEDGE information on Twitter, such as posting a link to remind members that they can win Visa gift cards by participating in the Resource Center’s Financial Fitness Challenge.

Getting started in social media

When using social media, credit unions should do the following, according to CUNA’s 2011-2012 Credit Union Environmental Scan:

• Allocate proper time and resources
• Have a social media strategy
• Define goals and objectives
• Set proper expectations
• Set a realistic budget

Hippensteel concludes that, if possible, it’s important for credit unions to have someone on staff dedicated to working on social media marketing. “Social media is another way to keep members informed about what your credit union is offering,” she points out.

Michelle Dosher is a managing editor in CUNA’s Center for Personal Finance. This article originally appeared in CUNA’s Connection newsletter.

Whether you’re an old pro at the Facebook game or still learning the difference between a Page and a Place, a new resource from the social-media giant can help you step up your credit union’s Facebook marketing efforts.

At the end of April, Facebook released a free Best Practice Guide for Marketing on Facebook. The 14-page guide packs a powerful punch, with step-by-step instructions for using the site’s many tools to reach specific objectives. The guide also highlights successful strategies used by real companies, as well as a comprehensive glossary of Facebook resources that’s practically tailor-made to hang up in your office–it’s a great cheat sheet!

Facebook bases the strategies contained in this resource on five guiding principles:

1. Build a strategy that is social by design. Integrate Facebook into broader marketing efforts.
2. Create an authentic brand voice. Provide straightforward information about your business.
3. Make it interactive. Always engage in two-way conversations.
4. Nurture your relationships. Understand that building relationships requires a long-term investment.
5. Keep learning. Take advantage of the ability to get feedback from people in real time.

That’s a solid foundation for any social-media strategy.

For more great advice on Facebook marketing, download the Best Practice Guide. And if you’re tweeting for your credit union, check out our recent post on Five Twitter Accounts Your Credit Union Should Follow.

Yesterday marked the one-year anniversary for CUNAverse! It’s been a fantastic experience and we look forward to the year ahead.

We’re happy you—our readers—have come along for the ride since our official launch on May 3rd, 2010. The CUNAverse team can’t thank you enough for commenting on our posts, following our tweets and “falling in like” with us on Facebook.

Our gift to you on (the day after) CUNAverse’s birthday… is this excessively cute picture of a puppy and a cupcake.

Enjoy!

By now, you’ve probably heard about the importance of engaging credit union members through social-media platforms like Twitter. Hopefully you’re already putting that advice into practice!

Getting active on Twitter is a great way to spark conversation with members and potential members, but that’s not the only benefit. Just as you want members to find value in following your tweets, you can find value for your credit union by following other relevant users.

To get you started, here are five Twitter accounts your credit union should follow to keep up with current financial issues, find useful marketing and creative tips, and ramp up social media efforts:

1. @mashable

Follow Mashable for the latest news in social media and technology. The online resource puts the spotlight on new social-media tools, best practices for online and social-media marketing, and analysis of technology usage and trends. You’re sure to find a tip (or ten!) to help your credit union navigate the digital landscape.

2. @nytimeseconomix

Tweets from the popular New York Times economics blog cover big-picture financial issues, from college enrollment trends to unemployment statistics. Following this account is an easy way to stay on top of new facts and figures that could help direct your credit union’s product offerings and strategy.

3. @CFPB

The new Consumer Financial Protection Bureau uses Twitter to share updates on policy and consumer issues. Follow the CFPB’s tweets to learn more about the Bureau’s evolving role, new rules and regulations, and important consumer insights. The CFPB also tweets links to consumer research and surveys, which can help your credit union understand some of the financial challenges  members may be facing.

4. @copyblogger

Want to learn how to whip up engaging content for your credit union’s website or blog? Brian Clark, CEO of Copyblogger Media, tweets helpful copywriting strategies from Copyblogger.com and around the Web. You’re sure to find some interesting, fun-to-read suggestions for effectively reaching members online.

5. @TweetSmarter

Why not round out this list with an account that can actually help you better position your credit union on Twitter? TweetSmarter offers hints for getting started on Twitter, troubleshooting, using third-party apps, and much more. Another cool perk: TweetSmarter also responds to specific questions from users.

Finally, make sure you follow CUNAverse (@CUNAverse) on Twitter to keep up with new content and other fun things we have going on. And check out all of CUNA’s social-media pages to stay connected with what’s happening in the credit union world.

Happy tweeting!

A common question in the Credit Union industry is “how do we change credit unions from being ‘the best-kept secret in financial institutions’ to ‘It’s no secret: Credit unions are consumers best option for financial services.’”

Insiders may get it, but to everybody else – well, it’s still a secret.

A new website, going on-line Feb. 28, aims to start changing that.

ASmarterChoice.org will debut at CUNA’s Governmental Affairs Conference (GAC) on February 28. The site is aimed at telling the credit union story to consumers-at-large and the press. Above that purpose it will also work at convincing more of those potential members to consider and then join a credit union.

The new website is being developed through a partnership between CUNA and State Leagues- Its development costs were borne entirely by the state associations; the website’s services are free to all visitors.

A key component of aSmarterChoice.org is the first, consolidated and comprehensive “credit union locator” which will direct consumers to a CU they can join with minimal hassle and no confusion. The CU locator will include all credit unions – regardless of their charter, affiliation, size, or business models.

The website name, aSmarterChoice.org, emphasizes the exceptional value and service credit unions provide to more than 92 million consumers today.  As not-for-profit cooperatives, credit unions return earnings back to their members in the form of better rates and lower fees.  Independent surveys consistently rank credit unions above banks and thrifts as the institution consumers trust to look out for their best interests.

The stimulus for the project came from a task force assembled by the American Association of Credit Union Leagues (AACUL), made up of chief executives of several state associations. In their deliberations, the task force identified a key goal for the new web tool: Helping credit unions build membership.

In addition to the tools provided by aSmarterChoice.org the site will also spread the latest good word of credit unions appearing in the national, regional and local news media and much more.

aSmarterChoice.org has the potential of spreading the CU difference like never before, allowing us, passionate credit union professionals and enthusiasts to add another tool to our “share the CU spirit” arsenal. What ways do you think this can revolutionize our industry?  Post your ideas and comments below!