In today’s fast-paced world, people are always looking for the quickest and most efficient means of communicating with each other. This is why UT Federal Credit Union (UTFCU) has adopted Twitter as a vehicle to use in keeping its members and prospective members apprised of the latest news and financial trends.
Twitter is a no-cost, online networking service in which members can join to be kept up-to-date with current credit union happenings. Similar to blogging, Twitter is a free and easy way to communicate via several different means such as cell phones or instant messaging. Additionally, members can also use this tool to be in contact with other folks in all parts of the world.
More specifically, UTFCU uses this interactive vehicle to keep members informed about the latest credit union news and current rates, as well as general financial tips.
According to Malinda Wood of UTFCU, it appears as if there has been some increase in membership base since the beginning of Twitter usage earlier this year. Surveys may not necessarily indicate a direct correlation since new members tend to indicate that friends or family recommended the credit union. However, recent membership increases point out that many of the new members may have experienced an initial contact through Twitter.
Headquartered in Knoxville, Tennessee, the credit union holds assets of greater than $150 million and a 26,000-plus membership base. A good portion of the success the institution has experienced is due to the creative and innovative marketing strategies it routinely puts into practice.
Wood explained that individuals and organizations have been taking turns informing people of their services through painting on a rock in a large common area within the University of Tennessee, where they are located.
“One day we painted the rock and had 1,500 hits on our web site within 24 hours,” Wood stated.
Another method used to get the word out about the credit union has been to put their name on t-shirts that are given out at football games. This is a good way to get the word out to thousands of people whether the team is winning or not, according to Wood.
With regard to upcoming initiatives, Brandon Ballantine, Interactive Technology Manager for the credit union, highlighted the fact that they have a series of billboards coming up in celebration of a new branch slated to open in the first quarter of 2009. They have a company Volkswagen bug and billboards that will tie in together.
“On the billboard the bug will start out at the University of Tennessee headquarters office; then travel to different landmarks in the background. As we progress the bug will be driving toward the new location. This will tie in with a series of YouTube videos as well,” stated Ballantine.
The credit union constantly strives to meet its mission statement of “providing its members with exceptional financial service, education, and leadership.”
UTFCU’s main goal is to foster the overall financial well-being of its membership. In this effort the credit union seeks to promote savings to its members as well as offering access to lower-cost loan packages. It does its best to provide friendly, comprehensive service for its members in order to align with the belief that its customers come first.
Debbie Jones, UTFCU CEO stated, “Our members come first at UTFCU. That’s why we offer such a wide variety of services. We hope that the flexibility of our resources and the flexibility of our locations will both provide each member with the same opportunity to convert that long-term membership into tangible financial assets.”
Twitter and the other marketing initiatives have enabled UTFCU to progress with its goals and mission. For example, Twitter is a tool that is marketed as assisting in providing a high level of customer service. The tool also helps reinforce brand image and promote customer interaction.
Other contributions to the organization’s success are attributed to its philosophy of holding continuous solid relationships with its employees as well as its business partners. As part of this endeavor, UTFCU provides ongoing professional development for its staff members.
Additionally, the credit union is a member of the Credit Union National Association (CUNA), a top notch trade association serving America’s credit unions. Last year UTFCU partnered with the National Endowment for Financial Education and the University of Tennessee Extension to endorse the High School Financial Planning Program, a national public service initiative designed to supply high school teachers with the necessary tools to educate their students to be financially savvy.
UTFCU looks forward to continuing to grow its membership and to providing the best possible service to everyone who partakes of the credit union’s services. When the credit union originally began in 1969, it was founded on the principle that it was a member-owned cooperative in which the members shared either a common place of work, education, or association.
Recently, however, a Community Charter was approved stating that anyone who lives, works, conducts business, worships, or attends school in Knox or other specific surrounding counties may join the credit union. This gives the opportunity to reach out and serve even more individuals.
