Taking the leap and making the big decision to buy a new home is scary, especially if this means becoming a FIRST-time homeowner. There are so many big decisions and choices to make, as well as small ones that may be overlooked but are equally important.
That’s where YOU come in credit unions! You want to make sure your credit union stands out from the rest, and you want to ensure your members are getting the best rates and deals while also making sure they know you are on their team throughout the entire process... but HOW?!
As a credit union, you want to make sure your members know that your team cares and that you will be there for them every step of the way. Outlining some of the ways your credit union can help them would be a great first step.
Realtor Magazine finds that social media plays a significant role in the purchasing habits of Millennials. Many first-time buyers find what they are looking for via social media sites and reviews. Having a strong online social media presence is more important than ever, especially when it comes to targeting the correct audience, which in this case is first-time homebuyers. If your credit union is passing up the opportunity to enhance your website, social media accounts and the ability to be majorly tech-savvy — or at least the opportunity to invest in a company who can help you reach those goals — you’re going to miss out on the opportunity to properly market your credit union.
Your credit union needs to make sure they are ENGAGING on social media channels since this demographic relies heavily on social media for just about anything and everything. Your credit union MUST have a user-friendly and ADA compliant website; one that is easy to navigate provides a seamless experience. Your team must also be creating QUALITY content for all of your credit union’s channels. You want to ensure you are not missing a beat and can disseminate your content through all platforms, to reach even the unreachable!
As mentioned, a huge factor that could set your CU apart, especially to a first-time homebuyer, is your ability to be tech-savvy. Ensuring that your CU is up to date on the latest trends and technological advancements will truly help you stand out from others, as well as help you market to your members on multiple platforms. Your members want to be able to have a quick and seamless process whether that goes hand in hand with payments, being able to track their loan progress, or just to take a look around at other things your CU can offer them.
Having a great marketing team on your side can ensure that all of your accounts are up to date and your CU is behind the latest trends. 99% of millennial homebuyers search online websites during the home-buying process according to a 2018 NAR report, and most used a mobile device to search. This also means it is not only important to have a website that is easy to navigate but making sure that the website is mobile-friendly will be of the utmost importance.
There are more than a few perks for going through a credit union to buy a home. Your members will all have access to a home equity loan or a home equity line of credit (it is shown that your members may choose one of these options with your CU as part of a down payment since private mortgage insurance is known to be pricey); credit unions always ensure the best customer service around (after all, that is what CUs are built on); and having a preexisting relationship with the CU can lead to possible better rates. In addition, your members have access to any and all other financial services your CU offers. MARKET THESE AMAZING STRATEGIES! Make known what you have to offer!
You develop relationships with your members, and that is what matters most when trying to get your branding message out there. Cutting out the “middle-man” and your members knowing all of their money is safe and sound in one location just might be enough to sway someone in your community to join your CU!
Oak Tree is here to help market your credit union and get results! Our team of talented marketing specialists are standing by and ready to assist through this entire process! Read more about techniques to engage current and potential members here.
Visit our website to learn more about marketing services from Oak Tree Business Systems, Inc.