Facebook & Financial Institutions

8/7/2019 Facebook & Financial Institutions

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St. Marys Credit Union


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About Us

We are a credit union NOT a bank (yes,theres a difference!)

Founded in 1913

Based in Marlborough, MA

Five branch locations in three towns:Marlborough, Hudson and Northborough


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Our Branches


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Our Website


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Some ofOur Competitors

Digital Federal Credit Union (DCU)

Marlborough Savings Bank

Avidia Bank

Central One Federal Credit Union Middlesex Savings Bank


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SMCU versus DCU


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The two sided debate of

Banking & Facebook

Our credit unions

have a problem. Theaverage age of theircustomer is now 47

years old and rising. Ifthey want to attractthese Generation Y

consumers, they haveto go where they are,

and Facebook is aclear place to find

them.

"Banks need tostart with their

strategic direction,not the channel.

Banks do not needa social mediastrategy, they

need a businessstrategy."

-Ron Shevlin, a senior analystat Aite research firm

-Richard Jones, Fiservs

Executive VP and CIO


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Which Side Should WeTake?

Credit unions struggle, however, to attractyounger members those age 18 to 24. Thosenumbers are actually decliningfrom 6% in 2006

to only 4% in 2008.

As such, they represent a large, attractive marketfor credit unions membership growth strategies.

-Credit Union National Association (CUNA)


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Why a Facebook Page?

Community Building

Product Research

Customer Service

Marketing & Promotion

Transparency

A great way to reach our members!


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Community Building

Foster community

Adopting

personality ofmembers

Part of a group


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Product Research

What do our customers think?

Enlist customers for product development


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Customer Service

Address customer questions and concerns


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Marketing & Promotion

Integrate socialmedia into currentcampaigns

Create newcampaigns in

spirit ofcommunity


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Transparency

Join theconversation!

Build trust

Be transparent


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So if theyre doing it


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we can too!


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Wait, we already have a social

media presence?


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Well, Lets Make it Better!

Create a Facebook Engagement & feedback from members

Mobile banking

Joe Delano Financial Advisor

Employment Opportunities

Community participation

Celebrations, news & updates

More videos on that YouTube page!


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Just be careful with...

Privacy & Security

Confidentiality

Responsiveness

Compliance

Handling negative feedback


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And remember to...

Be collaborative

Be humble

Be patient

Be opportunistic

Be flexible

Dont forget social media is all about person-to-person activity

Were just trying to be part of it!

LISTEN!


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...Questions?

Delicious.com/senoritaz88/socialmediafinal

@czeh88

Facebook & Financial Institutions

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