Posted by Lisa Hochgraf
I've been hearing rumblings that the current economy, complete with expensive eggs and way expensive gasoline, may actually be pushing people to SAVE again.
Wow! That's great news, isn't it! Credit unions are all about thrift, right? (Denise, that one was for you.)
At the same time, having people save more might be tricky for credit unions because, like it or not, they don't make money on share deposits. They make money when people take out loans.
So, experts out there in CU marketing, what do you think? Are the strategies for selling loans in a down market any different? What tactics work well? Do you promote different types of loans when the economy is down than when it is booming? Is anyone bundling savings products with loan products at this juncture?
Thanks in advance for sharing your thoughts and approaches.
