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Articles by Frank Allgood
Better Sales Conversions for Credit Unions
We’ve all been there. Someone dismisses something you love – be it a TV show, a product, or an idea, and your first instinct is to defend it passionately. Take LOST, for instance. If someone tells me they didn’t like it or “they were always dead,” my gut reaction is to dive into a 30-minute dissertation on why it’s one of the greatest shows ever made. But here’s the catch: When you launch into defense mode, you’re essentially saying, “I’m right, and you’re wrong.” The result?
Rebranding credit unions for 2025 - CUInsight
As we move into 2025, rebranding will be more critical than ever for credit unions seeking to shed outdated perceptions, differentiate themselves from competitors, and resonate with a more digitally savvy, purpose-driven audience. How do you evolve in a rapidly changing world while preserving the essence of what makes you special? You’re about to find out.
The danger of “authenticity” in branding
Authenticity is often hailed as the holy grail. Every conversation about building a successful brand strategy begins with the mantra: “Authenticity is key.” But in our quest to be “authentic,” are we actually hurting our brands? Could it be that this obsession with being genuine, without a clear understanding of our market, makes us blend into the crowd rather than stand out?
Beyond nice: The misunderstood side of authenticity
There’s a pervasive misunderstanding that being authentic equates to being nice. This misconception has led many credit unions to dilute their unique voices in an effort to appear caring, polite, and universally appealing. Take brands like Liquid Death and Mountain Dew. These brands are anything but quiet and reserved, yet they are paragons of authenticity.
A credit union leader’s guide to managing disappointment
Expectations can lead to disappointment… But that’s no excuse to avoid them! Ducking out of setting expectations because you fear being seen as a tyrant or dread disappointment is a cop-out. And if you have the viewpoint that “no one cares about expectations anymore,” then you need to do some serious soul searching. If you’re serious about leading your credit union to success, you must set expectations. It is non-negotiable. Expectations drive performance and establish clear standards.
What trumps culture? Understanding the impact of team dynamic
You’ve heard the Peter Drucker quote, “Culture eats strategy for breakfast.” It’s a simple way to say the overall vibe and values within a credit union have a stronger impact on success than the best-laid plans or tactics. But is there something that eats culture? The most brilliant strategy at a credit union doesn’t stand a chance with a culture that is negative or misaligned.
Navigating the challenges of authentic leadership
Have you ever heard that authenticity is everything? As credit union leaders, we are called to be principled, transparent, and tackle issues head-on with high levels of integrity. Yet there are societal expectations, personal barriers, and organizational dynamics that often challenge our authenticity. In most credit union cultures, there is an unspoken emphasis on uniformity rather than individuality. A leader who dares to veer too far from the norm is often treated with suspicion.
Don’t you dare utter ‘not on brand’
When you find yourself saying, “it’s not on brand,” do you understand why you are saying it? Uttering these words should prompt us to question whether we truly grasp the essence of our brand identity and what it represents. It’s not merely a matter of adhering to a color palette or logo; it encompasses the entire attitude and personality of our brand. If you are getting hung up on visual identity alone, something is wrong. Let me explain: Too many credit unions view their brand guides as law.
Abandon ship? Why frequency is your brand’s lifeboat
When a credit union leader says they want to do a short run on a campaign, my initial response is, “Are we swimming or treading water?” Unfortunately, too many credit unions are only looking to dip their toe in the water. Let me explain. As someone who lives in the Carolinas, I’m very aware that FanDuel and DraftKings have arrived in North Carolina.
Help your team get more stuff done
Is your team brimming with excitement, engagement, and fervor for their roles? Distractions, interruptions, and inefficient workflows can hinder even the most exceptional credit union teams. Surprisingly, we’re quick to turn to perks and incentives to keep people motivated rather than practical steps to improve productivity. Why is that?
The power of personal development
Let’s get real: You’ve hired people at your credit union that didn’t work out. Some were never the right fit, while others lost something over time. I’m reminded of when one of our credit unions hired a marketing specialist. She was rather boastful about having earned a bachelor’s degree in marketing, and she was quick to point out to others at the credit union who did not have degrees. She created waves fast, and clearly hadn’t mastered what it takes to build and maintain great relationships.
New year, new sales approach: Fresh tactics for credit union growth
It’s fair to say that the key to credit union sales is empowering the member. When they feel in control, they are more likely to close deals – open memberships, loans, checking accounts, etc. What has changed, however, is redefining our approach as credit unions. Our pursuit demands new avenues to connect with prospects – forging bonds that extend beyond the transactional to the relational.
The humble leader’s guide for credit union resilience
There is a delicate dance of expressing gratitude this time of year. There is a stronger desire to show employees appreciation through festive cheer, gift-giving, and sugary bliss in the breakroom. But how can you go beyond surface appreciation? Expressing thanks and showing appreciation fosters a sense of mutual respect and connection with others. However, wouldn’t you agree that gratitude should know no season?
Personal growth for credit union professionals
As the year draws to a close, there’s a natural urge to shift our focus to the future. Before you do… what story did this past year tell? How have your chapters unfolded? Let’s not overlook the art of personal reflection. It can illuminate your path forward and pave the way for a more intentional and prosperous new year. Before we begin, let’s laydown a ground rule. There are some common barriers and excuses used by credit union professionals.
The art of persuasion in credit union sales success
As we stand on the cusp of the busiest time of the year, with year-end credit union goals looming large, it’s crucial to recognize that the art of persuasion can be a game-changer, not only for you, but for your entire team. Sales, at its core, is not just about products or services; it’s about people. It’s about understanding the member’s interests, needs and aspirations. It’s about making them feel important and valued.
Boost your leadership skills this fall: 5 strategies for success
In Autumn’s cloak of colors, like a pirate in disguise, It sneaks upon us, robbing focus from our eyes. We chart our course for New Year’s goals, so clear, But fall’s distractions hijack, causing us to veer. The fall season is typically reserved by credit unions to set clear objectives and strategies for the New Year. Only, let’s talk about something that always seems to bubble up: leadership fatigue.
How to fill empty positions at your credit union
There are a record number of credit union job openings, and yet, nobody is getting hired. Just reading this opening sentence has some of you thinking about the minimum wage movement for $15 an hour, and how you can’t compete with the national burger chain down the street. Toss in a year-over-year inflation rate of 8.6% in May – the largest annual increase since December 1981 – and the struggle to find frontline credit union workers just got even more complicated.
Market harder? In viewing the TikTok, I stumbled upon this video message (Hey, if we can call a movie “The Batman,” I can call it the TikTok!): “A serious mistake a whole generation of people have done, that if you study, how should you study? ‘Hard. Study harder,’” said Sadhguru Jaggi Vasudev, an Indian guru. “If you work, how should you work? ‘You must work hard.’ “Why didn’t they tell you, ‘You must study joyfully?’ Why didn’t they tell you, ‘You must work lovingly,’” he continued.
3 rules before hiring a branding agency
I just finished reading a recent business article about the “perils” of hiring a branding agency. Wowsers. Let’s just say this “big” exec considers all branding and ad agencies “asses.” If you’ve ever read his writings, he’s a no-nonsense kind of guy. He’s quite candid and curt. And he’s not entirely wrong. There are a lot of branding agencies that do what he says they do. These are branding agencies that upsell, that are combative with the companies they serve, and they simply don’t listen.
3 pillars for successful marketing in 2022
How you frame what you do matters. For credit unions to solve people’s problems and provide real solutions, it helps to know what people are ready to hear and believe. To make an impact, however, it helps to know how to spread an idea. As we wind down one year and prepare for the next, here are three marketing pillars you should do with passion and conviction.
5 key habits for credit union marketing teams
There’s an old proverb that goes, “The person who chases two rabbits catches neither.” Have you ever felt this way when it comes to credit union marketing? From your marketing mix to your marketing message to the dollars you spend, it’s easy to fall down a rabbit hole. What brings focus to these crucial channels for growth? A well-focused credit union marketing team. “That’s cool, but how do I get there?” Let’s focus on how you can take the chaos out of teamwork.
What’s with all the ‘why’ talk?
You and 55 million others have seen Simon Sinek’s TED Talk, “How great leaders inspire action.” It’s an inspiring, captivating and straightforward 18-minute speech that links many successes of those who started with the question, “Why?” It’s a smart framework for how organizations can be built. “People don’t buy what you do. They buy why you do it,” Sinek says. You get it. Everyone gets it. continue reading »
How culture relates to marketing
One of the most common job interview questions is, “Why do you want to work here?” When Your Marketing Co. interviews candidates, some of the people we interview make note that our website says we are “people who give a damn,” and that we work for “credit unions that give a damn about the people and communities they serve.” It’s not every day you apply for a company that is so blunt – not once but twice – on the About Us page.
Brand is culture, culture is brand
Which is more important: Your credit union staff or its members? This may sound like the quintessential “chicken or egg” question, and you may be right. As astrophysicist and planetary scientist Neil deGrasse Tyson has an answer to this metaphoric adjective (it’s the egg), so do we for this important branding question. It’s your staff. Not convinced? Back in 2017, we started working with a Midwest credit union and I knew something was different.
Are credit unions sustainable in today’s economy?
The term “dumpster fire” has become part of the daily lexicon of many credit unions, but how did we get here? Yes, there’s COVID-19, but let’s be honest. While we may like to pass the buck on the pandemic, if we put under a microscope branding, leadership development, and succession management, perhaps there were already viruses within our organizations. When things feel chaotic or out of control, it’s important to realize how much we do influence.
The fallacious brand philosophy
I don’t pretend to be as eloquent a writer as the late George Carlin, but as someone who is in the credit union branding space, I’m certainly mindful of his “Advertising Lullaby.” If you’ve never heard it, it is incredibly witty bit about advertising speak – just note it gets a bit raunchy in the end (no pun intended).
Brand repositioning in uncertain times
Brand repositioning in the midst of a record economic drop... Would you characterize your credit union’s response as “survival mode” to the worst drop on record for the U.S. economy? All hands on deck! Behaviors change, systems are abandoned, and your branding and marketing strategy is now in limbo. The unfortunate truth is many credit unions are letting busyness get in the way of progress. Almost every financial institution has taken a hit.
The secret for small undesirable credit unions
We all know many small and mid-sized credit unions find it hard to stay ahead of the curve when it comes to facilitating tech. So, when it comes to talking branding and marketing strategy, quite often those discussions are often lost or buried under a mountain of other priorities. Scratch that. I doubt you actually believe brand strategy and design is trivial.
A branding pandemic for credit unions
Just as TV viewership is going up – 46% among teens – I’ve been tempted to tune out. This short YouTube video comically explains the glut of COVID-19 message out there. Another clever video captures the uncertainty of what we can do to fight the virus. I don’t intend to bemoan the “we’re all in this together” message. We should all be united to support the pandemic’s real heroes. However, there are some bandwagon brands where there promise is nothing more than lip service.
The number of Fs your credit union makes
There’s evidence to suggest a cooling economy. Economists point to GDP growth that is limping at a slow pace. Even the Credit Union National Association is predicting “slower economic growth, more uncertainty and more consumer caution will slow credit union growth.” In CUNA’s third quarter report, after a five-year average of 10.1% loan growth, the national trade association is predicting 5.5% growth for 2020. So, it’s time to cut expenses fast, right? Well… not so fast.
What’s wrong and what’s right with strategic thinking
Imagine you are in an airplane flying coast-to-coast, cruising at 30,000 feet. There are the mountains and valleys, cityscapes with twinkling lights, barren land and farmland – and let us not forget those little circles on the ground (they are center-pivot irrigation systems, by the way). You can see a lot… albeit a bit of a blur.
Credit unions and corporate social responsibility
What’s wrong with credit unions and CSR During one of our credit union brand development projects, the topic of corporate social responsibility arose, and I got push back from the CEO. “It seems like every organization says they are giving back to some charitable cause,” he said. “I don’t see the value in it. We’ve tried that before. We don’t get anything out of it. Sure, it may do some good for the community, but people are not loyal to us because of it.” I have to admit, he’s partially right.
Your credit union’s Cinderella story
I play in a tennis league where last season I went 4-1, and this season I’ve started out 2-0. I got a backhanded compliment once (no pun intended) that I was the “largest gazelle” they had ever played. Well… I am a man of “larger carriage” and I can cover the court pretty well. More recently, my two wins came against extremely lean, fit, athletic guys in their 20s. But I promise, I’m no “baller.” Maybe it’s the shoes. I do love my YMC Blue Diadoras. Nope.
How to market to prospects in 15 seconds
What is the biggest objection to banking with you? Many credit unions and community banks point the finger at rates and service, and then tack on a qualifying statement, “but we’re competitive.” There’s not a lot of confidence or conviction there. If you have 15 seconds to communicate a message, keeping in mind that the average person now has an attention span of eight seconds – a second slower than your average goldfish – what do you say?
5 powerful videos to persuade your audience
There are five types of videos that can help you make an authentic connection with your audience. YouTube is the second largest search engine on the web. With more than half (55%) of people watching online videos every day, video has become the platform for satisfying both informational and entertainment needs. If pictures are worth a thousand words, then “video is worth 1.8 million words,” said Dr. James MCQuivey in a Forrester Research study.
How to rewire employee engagement
Our family dog, Charlie, is a delightful Cock-a-Poo – the offspring of the Poodle and the Cocker Spaniel. These are two of the most intelligent dog breeds. Charlie is hypoallergenic, easygoing, affectionate, and will melt your heart. He can sit, stay, shake hands, stand on two legs and occasionally will bark on command. And that’s all. Charlie will still dart away when he sees a bird or squirrel, and he loses his mind anytime anyone rings the doorbell.
I don’t do piggy banks
When you think of an ad for a financial institution, what immediately comes to mind? There is the woman who dangles keys outside the car window. That’s perfectly natural… sigh… when we get a new car. Then there’s the tiny house – that perfectly square illustration we’ve come to know since we were 3 years old. And then there’s the piggy bank, that clay or plastic oinker we drop coins in that is a natural tie-in to savings. Yeah, I avoid those clichés like the plague. They rarely are persuasive.
A thunderstorm or a brainstorm – effective meetings - CUInsight
The word “meeting” might as well be a four-letter word. Come on… admit it. If you’re like us, you’ve at least uttered a four-letter word (or two, three or four) when you get that unexpected calendar notification pop up. Ding! Research suggests we lose $338 in average salary costs per meeting. Sixty-three percent of meetings are conducted without a pre-planned agenda. Think about how many meetings are for nothing more than meeting sake.
Dare to create – next level financial marketing - CUInsight
I’m not a zealot when it comes to video games. There’s only one game that I play on my son’s Xbox, and that’s FIFA 18 (soccer). Most often, I’m playing as the U.S. Women’s National Team. I can’t even find the men’s team on the video game, which partly speaks for my age and partly speaks to how bad our U.S. Men’s National Team has been in recent years. Ouch! This time of year, my eyes are glued to the Women’s World Cup.
Credit unions, banks and 23 democratic candidates
At the time of writing, we have 23 Democratic presidential candidates who want to unseat President Donald Trump. Now… name five of them. How’d you do? Did you struggle like most Americans? Of those you did name, let me guess the ones you got right. You got Bernie Sanders and Joe Biden. Those were easy, as Sanders was second to only Hilary Clinton in the last presidential primary, and Biden is a former Vice President.
Don’t misjudge the likeability of humor
“Where’s the beef?” Some of you may not know this classic 1980s catchphrase from Wendy’s. So, let’s try another one: “Dilly dilly!” Now I’ve captured the rest of our readers attention. From the loveable old lady who would storm drive-thru counters asking for more beef and less bun, to the more recent Bud Light commercial set in medieval times where a nonsense word evokes playful excitement for a frosty brew, humor plays a major role in these brands.
One stat that should capture your attention
This might hurt to read if you are a leader for your financial institution. If you have an inkling of what I’m about to say, you know it is time to get more intentional. So… here it goes. The average American family spends $1.22 for every dollar earned, according to recent data collected by the South Carolina Association of Certified Public Accountants. This is not a pitch to become a Community Development Financial Institution, nor to apply for a low-income designation.
Prep and landing for the next recession
We have no crystal ball. Any good economist will tell you they can’t predict the future either. They are really good at explaining what has happened, which is why we turn to them for the best forecast for what may come next. What we do know is the last recession ended in 2009, and the timing between the past three recessions have been between seven and 10 years. It’s now 2019. Before you batten down the hatches, this is not a time to cut advertising. Now, hear us out.
A high-achieving strategy for your internal brand
We’re just a few weeks in, and already I have what may be one of my fondest memories of 2019. My daughter, Penelope, and the Beta Club at Mauldin Elementary School became Songfest Champions at the South Carolina Junior Beta Club Convention. Yes, the eyes were watery. It was such a proud moment as a parent.
3 branding lessons for 2019
By now your credit union or community bank’s strategic plan is ready for the New Year. Hopefully, it’s a plan to help you close the gap and hold you and your team accountable – where you don’t find yourself overwhelmed by the day-to-day. What we don’t want to see is a plan that mimics that of the chronic resolution-taker. When you examine what’s holding you back right now, does your brand come to mind?
An unbroken brand promise
Ask a credit union or community bank about their consumer base, and it starts out like a snappy joke: A well-educated, retired woman walks into a financial institution. She’s somewhere between 55 and 70. She loves all the staff and the staff knows everything about her. They know she suffers from osteoporosis and her husband will be retiring soon. Once she finishes the next round of physical therapy, the couple plans to take a 7-day cruise after they visit their grandkids.
3 tough rules for finding a rebrand agency
How important is your brand? It’s an impression of you and your financial institution. We’re talking about the essence of your credit union or community bank. Yeah, it’s pretty essential alright. And finding the right rebrand agency can be the difference between oh, meh, oops and aha! If you’ve been here before to read one of our blogs, you know our stance: A brand is not built on rate or service. The same goes for selecting a rebrand agency. You shouldn’t make your decision based on price.
Why your internal brand keeps getting bounced
“How to score a winning organization.” “The playbook for business success.” There’s a lot of sports clichés within the corporate world. Why? Quite simply, we’re fans. We understand that whether it be on the football field, the soccer pitch or the baseball diamond, there’s intense competition and strategy that will lead to a winner and a loser. In the “big leagues” of banking, we know who the top challengers are, and we want to score more runs than them (see what I just did there?).
Most are comfortable not banking with you
Most people are happy with their present bank or credit union. Here’s a stat to prove it. According to a 2017 American Bankers Association survey, nine in ten Americans rate their bank’s service as good or excellent. They go on to say that a “customer-centric model” that emphasizes “user-friendly experiences” is key to meeting consumer expectations. Well, duh! However, we can also look at a global survey by FIS that reports only 23% of consumers believe their bank is meeting their expectations.
Your financial institution is fake news
Back in my old journalism days, a crotchety, pipe-wielding, testy newspaper publisher once asked the team why we were in business. To break news? Nope. To ensure a well-informed citizenry? Not it. To speak the truth and protect the First Amendment? Nada. “To make money,” he said. He went on to explain that without sales, there would be no newspaper for us to put our talents, passion and energy to work. And it got me thinking of one of my very first assignments.
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