Top Five Interactive Marketing Mistakes Credit Unions Make

March 19, 2013

Credit union marketing has become a challenging discipline, with updates in technology, compliance requirements, security, and consumer preferences regularly changing the playing field. The ability to manage all channels—email, mobile, social media, outbound calling, and print—is often hindered by a lack of technology and/or expertise. Many marketers find themselves generating the same static, one-way communication campaigns, despite the wealth of member data they have. The answer? Interactive marketing, representing 1:1 relevant and contextual messaging.

The practice of interactive marketing is constantly evolving, producing a mix of best and not-so-best practices. In this podcast, you will learn about the top five interactive marketing mistakes credit unions make and how to avoid them.

1. Lack of Management Vision and Commitment

2. Inadequate Planning

3. Failure to Execute

4. Doing It the Old-Fashioned Way

5. Not Personalizing Marketing

Mark Haugejorde, Founder of Member Assist, explains how interactive marketing can improve a marketers’ effectiveness and optimize results. For nearly 20 years, Haugejorde has developed businesses that combine advanced marketing technologies with highly-defined affinity groups.

Member Assist’s iSolutions Marketing Automation Platform is the NAFCU Services Preferred Partner solution for interactive marketing platforms.

Increasing Collections Efficiency as a Source of Income

March 1, 2013

Debt collection is a sensitive topic for credit unions. It’s not unusual for “good” members to have occasional past due accounts. In fact, those slow pays can generate additional income from interest and late payment fees. The challenge is in finding and maintaining a balance between good member service and minimizing risk.

With the current economic situation, there is a greater need for credit unions to improve the collections process while retaining a positive relationship with their members. In order for credit unions to be successful in managing their collections and recoveries, they need to implement a formal and focused plan. This includes determining which department is responsible for the collection strategy, if an outsourced solution (either full or partial) is appropriate, how to handle recoveries, and more.

In this podcast, Marney MacFadyen, Vice President of Sales for Credit Control, discusses how you can improve your credit union’s collections process and what to look for in a partner. Marney has more than 10 years of sales and operational experience. She works closely with credit unions all of asset and portfolio sizes.

Credit Control is the NAFCU Services Preferred Partner for Consumer and Commercial Loan Recovery Services.

Contact: Marney MacFadyen, Credit Control; Email: mmacfadyen@credit-control.com;

Phone: 603-785-9134; Website: www.credit-control.com

Interviewer: David C. Frankil, President, NAFCU Services Corporation; Email: dfrankil@nafcu.org; Phone: 703-842-2226; Website: www.nafcu.org/nafcuservices;