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!