The Credit Union National Association produces a number of excellent credit union-focused news and research via Credit Union Magazine, E-Scan, and CUNA News Now. Here are ten must-read articles from these publications for the month of January, 2011.

Marketing to Hispanics? Find the Right Translator

Make marketing messages understandable and culturally relevant.

Collection Strategies Adjust to Economy

A kinder, gentler approach is more likely to succeed.

‘NCUA-safe’, Suze Orman Attract Millions in Donated Ad Space

The “NCUA-safe” ad campaign featuring personal finance expert Suze Orman touting the virtue of federal credit union insurance has tallied more than $2.6 million in free advertising for the National Credit Union Administration (NCUA).

Ten Credit Card Predictions for 2011

Expect APR increases and lower delinquencies.

Gift Cards as a Meeting Incentive?

Can a federal credit union increase participation at its annual meeting by giving $25 gift cards to members in attendance?

There’s ‘No Such Thing’ as an Easy Core Conversion

If you let things slide, you risk ‘having a wave come over your head.’

Ill. League Obtains $1.4M Reg. Fee Holiday for Credit Unions

Why are all 290 Illinois state-chartered credit unions are seeing a boost to their bottom lines in 2011?

Credit Unions On Top in Customer Satisfaction

CUs and small banks lead their larger rivals in customer satisfaction and loyalty, reports the Prime Performance 2010 Bank and CU Satisfaction Survey.

Fed Action May Affect Benefit Costs

Additional defined benefit plan funding may be warranted if corporate bond yields drop.

Fed Offers Two Plans for Interchange Fees

The Federal Reserve issued for public comment its proposed rules addressing interchange fees.

Some of the funniest commercials have aired during back-to-school season, like this one from Office Max (my favorite part is the lollipop switched for a magnifying glass).

But while many students roll their eyes at these commercials, others are scratching their heads wondering how the final set of CARD Act rules–which went into effect on August 22nd–will affect their credit accounts.

It’s my opinion that this is a perfect opportunity for credit unions to reach young adults and help them with financial education.  Why?

1. The CARD Act is arguably the most important financial change to impact this demographic.
2. Young adults WANT to learn how to better manage their money. According to a recent study by Sallie Mae, 84% of undergraduates said they needed more financial education.
3. Credit unions that use financial education to guide young adults through these confusing times will gain their loyalty in return.

It’s that second point that’s most interesting… the average undergraduate senior leaves college with $4,100 in credit card debt AND wishes they had known more about managing credit and their finances. That’s where credit unions can make an impact with this demographic; by providing the desired financial education using relevant communication channels.

This is the main reason I’m psyched about my role here at CUNA. I get to help credit unions provide valuable financial information to my demographic using relevant methods such as the Web and in-person seminars.

We all know using a credit card isn’t difficult. It’s HOW to use a credit card that gets tricky. And that’s what I wanted to convey to folks my age with the video I produced for our new Seminar In A Box aimed at those starting out in life.  (Credit 101: Do You Pass the Test will be released this fall.)

Jeremy was awesome, and very candid. I wanted him to tell his story and offer advice based on his experience with credit. Hearing that message and discussing the situation with peers goes a long way and I think it amplifies the rest of the information presented throughout the seminar.

Check out this shortened version of the video…

Jeremy shares more compelling stories in the longer version that’s sure to resonate with the intended audience… like the story about his roommate’s use of credit, his episode with collections, how his credit problems affected his college career, and some advice based on his experiences.

Now it’s your turn… am I off base? Do you think young adults are a lost cause for credit unions? Are there better ways to reach them and gain their loyalty? I have lots to say about this subject–too much for one post–so let’s keep this conversation going!

>I was really irked by an ad I saw in a magazine this week for Citi Card. It’s part of Citi Card’s larger ad campaign – The “Tell Your Story” series. “It’s a creative platform showing how Citi cards can help users facilitate their life stories,” notes Lisa Caputo, CMO at Citi. Here is a taste:

The print ad I saw went like this:

A 20-something fashion-savvy black woman whose ad is headlined: “I don’t cook. So I made my eat-in kitchen a fabulous walk-in closet.” The photograph shows her in the kitchen, with the cabinets open to showcase her handbags, shoes and sweaters. “My name is Grace and I live in a small apartment in a big city. And since I enjoy a day of shopping far more than, say, cooking, I decided to do a bit of home remodeling. So with my Citi card in hand, I set out to get some closet organizers. I bought a shoe rack for the oven, sweater boxes for the lower cupboards and some 12-inch baskets for handbags up above. I saved room for plates, glasses and silverware. And one large drawer stuffed with take-out menus.” More from the ABA here on the series. More on this ad specifically here.

The tagline is then – “Whatever your story is, your Citi card can help you write it.” Yeah, they are cute too. Here is a TV Spot:

In the ABA piece, Caputo says, “We want people to select the Citi card because, in so doing, we can help them live a piece of their dream.”

What dream is that exactly? It’s a credit card. The print ad irked me because it shows this woman with kitchen cabinets overload with…stuff. Non-kitchen stuff at that. The card is basically aiding her addiction to shopping.

Now we all have our own dreams. I know I do. I’d love to be able to read the Sunday New York Times front to back…just once. I also want to be a superhero. And if your dream happens to be shopping for more and more stuff, so be it. But still.

To me, the ad emits an empty and exploitative attempt at the emotions of people who want what they can’t afford. “Hey, use this card to live your dreams. All it takes is one swipe.”

It’s a dangerous game. The number of 18 to 24-year-olds declaring bankruptcy has increased 96% in 10 years. In 2007, a Charles Schwab survey on teens and money reported that only 45% of teens know how to use a credit card, while just 26% understood credit-card interest and fees.

What does your credit union’s credit card ads look like? What kind of message are you sending?

At any rate, I think you can look at Citi Cards’ ads as what NOT to do.