Michigan Columbus Credit Union
Lisa Flanigan
Courtney Johnson
Mary Smith-Biles
Todd Buchanan
Madonna University
MKT 6210

Table of Contents

Introduction Page 3
Brand Building Page 8
The Numbers Page 11
Conclusion and Marketing Ideas Page 22
Bibliography Page 24

Introduction by Lisa Flanigan Credit Unions are not-for-profit financial institutions that are owned by all of its members. The focus of the credit union is to help its members save, borrow, and receive affordable financial services. One way is by offering higher interest rates on savings accounts which can be important to people in general but also to the young population who are just starting to save for college or some other long term item such as a car. Typically, credit unions charge lower fees compared to banks and provide credit at competitive rates. Like any other business, Credit Unions must have enough income/ assets to cover expenses related to running a business or risk the possibility of becoming insolvent. Lending money to members is a source of income for credit unions. When borrowers default on this lent money, this puts a credit union at risk and causes tougher rules on responsible lending. They are also known for providing service at the personal level by helping their members plan for the future.
The first credit union was founded in southern Germany in the year 1864 by Friedrich Raiffeisen and Herman Schulze-Delitzsch. According to the National Credit Union Administration, credit unions are depository institutions created not for profit, but to serve their members as credit cooperatives (History of the Credit Union System). These early credit unions became the model for today’s credit unions in the United States. Distinct features of the early German credit unions included:
• Democratic governance
• Each member has one vote, regardless of the size of the member’s deposits
• Member-elected board of directors
• Volunteer based In 1900, the first credit union started up in North America by Alphonse Desjardins. In Levis, Quebec, La Caisse Populaire de Levis was organized in response to loan sharks charging outrageous interest. He wanted to be able to provide affordable credit to working class families (History of the Credit Union System). In 1909, the doors to the first United States credit union opened in Manchester, New Hampshire. With some assistance from Desjardins, the Franco-American Catholics organized St. Mary’s Cooperative Credit Association. On April 15, 1909 through the efforts of the Massachusetts Banking Commissioner and a merchant, the Massachusetts Credit Union Act became law and 25 years later the Federal Credit Union Act became law. During the 1920’s, credit unions became popular because families had more money to save but needed a source of inexpensive credit to purchase goods like automobiles and washing machines (History of the Credit Union System). Credit unions continue to overcome challenges due to the economy but have shown resilience. The NCUA (National Credit Union Administration) continues to enhance the credit union system that is safe, sound, secure and serves more American than ever before (History of the Credit Union System). There are roughly 13 credit unions within the city limits of Livonia, Michigan. Some surrounding cities also have credit unions close to the community as well. Of these 13 credit unions, some of the more popular credit unions are Zeal Credit Union, Catholic Vantage Financial CU, Community Financial CU, Michigan Educational Credit Union (MECU) and Michigan Columbus Federal CU. There are other credit unions with the community but for the purposes of this paper, credit unions within a 3 mile radius were chosen for comparison. Zeal Credit Union was founded in 1954 and operates 11 full service locations throughout Metro Detroit. There are 61,000 members that belong to this credit union and are also known as the “company credit union” by a number of local employers. They have been rated as a five star institution by Bauer Financial and have been awarded a Superior financial rating by IDC Financial Publishing, Inc. (Zeal CU History, 2015). Known for their community focus, they offer better interest rates (which beat the national averages), lower fees, and reduced cost products and services. Services and products that are offered by Zeal CU include available 24 hours a day through online banking or telephone banking, checking accounts, savings accounts, loans, credit cards, Nextgen, Rock Star Savers, and Save to Win programs. The Nextgen Savings program targets teens ages 12 through 17 which gives them lots of options to manage their money. A savings, checking and credit card are offered within the Nextgen Savings program as well as a free online checking tutorial to teach teens about managing their money. They offer special accounts for this age group such as saving for Spring Break, prom and other events in a teenager’s high school career. Zeal Credit Union spots the teen a $5 bonus when the first deposit is made. There are no account fees and interest is earned on balances of $5 and up. Another program offered by Zeal CU for kid’s ages 11 years and younger is the Rock Star Savers program. This is a savings account program teaching younger children how to save money and earning rewards while doing it. The reward system is called the Backstage Pass and for every 25 deposits into their savings account, the child advances through levels with specific names and earning prizes for each level accomplished. Also with this program, Zeal has created Rock Star Savers school branches to help make savings fun and educational. The school branches are in 7 elementary schools and one middle school. Students complete a job application in order to work at the school credit union branch which helps to promote life skills that students need as they become adults (Zeal CU History, 2015). Catholic Vantage Financial CU. Originally chartered as St. Michael Livonia Federal Credit Union in 1953, other parishes began to join the credit union leading to a name change. Soon neighboring parishes from neighboring communities also joined prompting another name change. In 2011, they finally became Catholic Vantage after becoming a service provider for other Catholic organizations. Their reputation is built on strength, stability and convenience. The credit union services over 29 parishes, organizations and Catholic schools in the Livonia greater area. Among the products and services offered are checking accounts, savings accounts, student accounts, investments, Visa accounts and loans. Vantage Online banking is a convenience service which allows a member to bank online, bill pay, receive e-statements, and e-alerts regarding their account. Mobile banking is a 24/7 mobile access point which allows a member to view their account history, see cleared checks, transfer funds, make loan payments and more (About Us, 2013). Catholic Vantage places a high priority on promoting financial literacy by dedicating resources to foster this development among the youth. Student accounts offer 3 levels of accounts to its youth. The first level is the Youth account which targets children and young adults 16 years old and younger. The account requires a $5 deposit, for every deposit a small gift is earned and the service charges are waived. Teen checking is the next type of account offered for teens 14 through 17 years of age. This account allows the teen to manage their own money by teaching them to be responsible and sets up limits to maintain control. No service fees and no minimum balance are among the benefits of this type of account. In order to maintain self-control and teach responsible habits, the teen is offered 5 free ATM withdrawals a month, debit card controls, manage their account online with parent permission, and parental control of the account (About Us, 2013). Community Financial CU is another full service institution committed to investing in their communities. Serving over 50,000 members, Community Financial has been voted one of the 101 Best & Brightest Companies to Work for in Metro Detroit several years in a row due to its student-run credit unions in community schools (About Community Financial, 2015). Serving 9 communities in Michigan, Community Financial offers checking accounts, savings accounts, loans, student services, investments, online and mobile banking, member rewards, and convenient services. The student services offered are the youth club and the student club. The youth club is for members ages 12 and under is free and only $5 to open an account. The youth club is the foundational program to introduce young children to the concept to saving money. There are no fees associated with the savings account. Special rewards are offered when deposits are made and the credit union has a student run school credit union program that promotes the idea of saving money. The student club is for member’s ages 13 through 23. The products offered for this group are free savings (with an ATM card), free checking (with a Visa Debit Card age 16+), free online and mobile banking, free online bill pay (age 18+), Platinum Visa, auto loans and unsecured loans, deposit punch card which pays you to save, and scholarship programs for college bound members (About Community Financial, 2015).
Michigan Educational Credit Union services the financial needs of school employees. It serves 6 counties in Michigan: Wayne, Washtenaw, Oakland, Macomb, Livingston, and Jackson with 50,000 members. The credit union offers checking accounts, savings accounts, loans, credit cards, financial services, home and mobile banking and retirement accounts. They have been given the five star rating by Bauer Financial for their strength and stability. MECU has also been named Top 200 Healthiest Credit Union for 2015. With a deposit of $6 ($5 initial share deposit and $1 membership fee) is all you need to open up an account with MECU (Membership).
Lastly, Michigan Columbus FCU serves the community of Livonia. The credit union has almost 5,000 members and offers checking accounts, savings accounts, loans, credit cards, online banking, direct deposit, and an ATM. The credit union has been in existence since 1947 (About MCFCU). Brand Building by Courtney Johnson Brand building and maintaining an effective logo are important aspects of any business. Brand building is an integral part of business development. Service brands such as banks and credit unions are built on knowledge and the experience that one has with the service delivering agency. It’s important to not only focus on brand building it’s just as important to define your brand. The company as a whole must pivot on core strengths as well as the skills and expertise of employees within the company possess. Using employee’s skills will help the company differentiate and position the brand. Standing out from competitors is the key to attracting the attention needed to increase and maintain customers. Maintaining a company logo is also a key aspect to building a successful company. Logos help anchor a company’s brand it distinguishes your company’s brand from competitors. As the single most visible manifestation of the company, logos are indeed the face of the company. Consumers are more likely to respond adequately to a business with a distinct logo. Logos also imply professionalism as well as competence, which help increase potential clients. As a company it is critical to have the proper positioning and size.
With over a billion users YouTube is a great way to get the exposure needed to increase customers. You tube overall reaches more 18-34 year olds than any cable network in the United States. With over 40 percent of people viewing you tube per day this social media avenue provides a number of opportunities, especially if the goal is to reach the younger generation. Interestingly over 80 percent of you tube views are from viewers outside of the United States.
By launching various versions of you tube in over 70 countries and offering viewers the option to choose from 76 different languages, YouTube has an unlimited amount of avenues businesses can use to reach younger customers as well as global customers. With over half of social media users using their mobile device to access sites such as you tube and face book it shows the importance of social media, and mobile marketing. As of March 2015 creators filming in you tube spaces have provided over 10,000 videos which has generated over one billion views and 70 million hours of watch time. One of the great things about social media advertising is the cost, if company’s choosing to pay you tube or face book for advertising the cost is much less than traditional forms of advertising. Company’s also having the option to upload and make post free of cost. Facebook advertising starts at a dollar and goes up depending on what forms of advertising utilized. These social media sites such as you tube, face book, or Pinterest allow companies to reach an abundance of clients. By simply uploading a video or using face book to inform customers of what amenities are offered as well as what could be beneficial for them if they choose to invest in your financial institution. The goal is to gain awareness if customers are not familiar with your business increasing customers can be next to impossible. Many financial institutions use multiple forms of advertising to gain awareness. Using brochures along with social media to promote has become a must in the business field. By using a finely designed brochure will assist companies in promotional marketing efforts. Brochures showcase not only clarity of objectives but also show what the company offers. This time effective method doesn’t have to target a specific audience or group. Which help provide brief and compact information and the best part is customers get to take them home. Potential clients would be willing to consider changing financial institutions if they have a portable piece of information regarding business amenities. Brochures can also be mailed to current as well as potential clients that live in the nearby area. In return, it allows the business to obtain new clients who were unaware of the business location or simply unaware of what could benefit them as a customer. Companies have a large amount of flexibility using this advertising method, due to the wide range of designs and decorations companies can create a unique very distinctive brochure which separates them from competitors. One drawback from using brochures are the high cost most companies use outside companies to design and print the brochures. However there are templates available that allows the company or individual to design and print their own brochures free of cost. The only cost for the company would be the paper and the ink to print the brochures which cuts down a substantial cost. Microsoft suite offers a simple and easy to use template.
With the increase in smartphone usage most expect to access their accounts on their mobile devices. According to the Javelin Strategy and Research report over 40 % of consumers said they did not switch to a credit union because they were satisfied with the online services their bank provided. It’s important to offer clients what they need and in order to compete with banks and other credit unions consumers have to feel like they are making the switch for the better. For any business marketing has to consist of various methods and avenues that will attract and gain consumers. By utilizing cost effective marketing methods companies can gain exposure and profit by spending very little. Due to the fact that millennials are the target market for many companies, it is important to understand the needs and wants of this group. With the increase in technology it’s beneficial for companies to change with the growing world of technological advances.

The Numbers by Mary Smith-Biles According to United States Census Bureau the city of Livonia population is 94,958. The percentage of 18 years and younger is 20.8% and percentage of 65 and older is 17.7%. High School graduate or higher 93.2 %. The city of Livonia has 5 High Schools. Churchill High school Mission statement is to be “committed to providing a safe, positive, and challenging learning environment, motivating all students to reach their greatest potential (http://lpschurchill.ss5.sharpschool.com/)”.
The author noted, “Franklin High School has the International Baccalaureate Program is a rigorous academic program which promotes intercultural understanding and respect, not as an alternative to a sense of cultural and national identity, but as an essential part of life in the 21st century. The International Baccalaureate aims to develop inquiring, knowledgeable and caring young people who help to create a better and more peaceful world through intercultural understanding and respect. This program encourages students across the world to become active, compassionate and lifelong learners who understand that other people, with their differences, can also be right. The IB program allows selected 11th and 12th grade students to earn an IB diploma in addition to their regular high school diploma. The IB curriculum is recognized for its academic rigor and its ‘international mindedness' exposure. Students working for an IB diploma will be required to take a full IB schedule that includes courses in Language 1 (English), Language 2 (Spanish), Individuals and Society (Social Studies), Mathematics, Experimental Science, and Visual Arts. Students will also take end-of-course exams that will be assessed using international standards. The IB program has additional requirements of an extended essay, a Theory of Knowledge course, and 150 hours of documented creativity, action, and service.
Franklin High School is the first public school in Wayne County to offer the IB Diploma program. Faculty members have been trained in the areas of Administration, Coordination, Visual Arts, and History of the Americas, Spanish, Biology, Chemistry, Mathematics, English and Theory of Knowledge. At the training sessions, teachers spend 3–5 days learning about international perspectives regarding pedagogy, curricular requirements, and standards of assessment (https://en.wikipedia.org/wiki/Franklin_High_School_(Livonia,_Michigan)”. Franklin High School is to nurture and analytical and creative 21st Century problem solvers who are compassionate and contributing members of global community (http://franklin.livoniapublicschools.org/). According to the author at “Stevenson High School, students have the opportunity to take Advanced Placement® course work and exams. The AP® participation rate at Stevenson High School is 36 percent. The student body makeup is 52 percent male and 48 percent female, and the total minority enrollment is 12 percent. Stevenson High School is 1 of 3 high schools in the Livonia Public Schools School District (http://www.usnews.com/education/best-high-schools/michigan/districts/livonia-public-schools-school-district/stevenson-high-school-10095)”.
The author stated in “Livonia Career Technical Center Livonia Public Schools stands as a lighthouse district, a beacon of excellence offering exceptional educational opportunities to all children and serving as a source of pride for our community. As a premier school system, we promote a passion for learning and a philosophy that puts the needs of children and their education first (https://www.livoniapublicschools.org/district/our_shared_vision)”. The author also stated “Western Wayne Skill Center the Livonia Transition Program located within the Western Wayne Skill Center is a welcoming and safe school which promotes student growth towards independence and the achievement of personal goals in a respectful, caring, and motivating environment. We prepare students for adult life roles of family member, worker, recreation participant, and involved citizen, through increased community based instruction, where active participation is encouraged. We are committed to helping students realize their potential through innovative teaching methods and by challenging each student as we address their unique instructional needs. We emphasize cooperative learning and the development of decision making skills. We build positive, inclusive relationships with families, school case managers, care providers, and community service agents to promote collaboration. We monitor and assess post-secondary transition goals of all students, using a variety of assessment tools (http://www.livoniapublicschools.org/programs/livonia_transition_program)”.
Churches to Worship The churches of Livonia welcome all Christians especially if you are looking for a home church. Their desire in 2015 is to be all that Jesus Christ would have you to be. They invite you to come see what's going on this year although there is only a month left in this year. There are 9 Baptist churches Parkview Baptist Church, Berean Baptist Church, Alpha Baptist Church, Grace Baptist Church, First Baptist Church, Galilean Baptist Church, Merriman Baptist Church and Faith Baptist Church. 11 Non-denominational Churches Bell Creek Community, Grace Christian Fellowship, Unity of Livonia, Berean Bible Church, Chinese Gospel Church, Praise Chapel, Single Point Ministries Church, Crossroad Family Center, Cornerstone Worship, Church of the Savior, Church of the Holy Spirit. There are 8 Lutheran Churches Holy Cross Lutheran Church, St Paul Ev. Lutheran Church, Emmanuel Lutheran Church, Faith Lutheran Church, Christ Our Savior Lutheran Church, Timothy Lutheran Church, and Holy Trinity Lutheran Church. 10 Catholic Churches St Colette Catholic Church, St. Michael Archangel Parish, St Aidan Catholic Church. Sacred Heart Byzantine Catholic Church, St Priscilla Catholic Church, Saint Rafka Maronite Catholic Church, St. Genevieve, St Maurice Catholic Church, Our Parish Catholic Church and St. Edith Catholic Church.
Credit Unions in Livonia
Community Choice Credit Union: Our history:
1935
A few neighbors put five dollars in a fund from which anyone could borrow in a time of need. Redford Township Credit Union was founded in the home of its originators, Arthur and May Jenkins. It remained there for 25 years.
1960
The Credit Union, then serving Redford Township, opened its first official office space and relocated from the home of its founders.
1998-1999
An expansion of the Credit Union’s charter occurs allowing include anyone who lived or worked in the cities of Livonia or Redford to become a member of the Credit Union. To reflect the purpose of being a cooperative and the commitment to community, the name of the Credit Union was changed to Community Choice Credit Union.
2002
The Credit Union’s charter again expands, making the expansion the largest of its kind in Michigan. The Community Choice Credit Union footprint, once 58 square feet, grew to 529 square miles.
2007
Community Choice Credit Union merges with Research Federal Credit Union. The result of the merger provided expanded locations and services to members and doubled the total assets of Community Choice Credit Union.
2008
Looking to solidify itself as a premier financial institution, Community Choice opens its new headquarters building in Farmington Hills. The new location features an innovative branch design, along with administrative offices.
2009
Seeking to create a program that encourages local students to attend Michigan colleges and give back to their communities with their education, the Credit Union creates the Community Choice Foundation.
2010
Community Choice Credit Union partners to merge with Kelly Services. The merger expands the Credit Union’s presence into Troy and offers exclusive financial services to Kelly Services employees.
2013
Community Choice Credit Union partners to merge with ROME Credit Union. The merger expands the Credit Union’s presence into Royal Oak and surrounding communities.
2015
Community Choice Credit Union partners to merge with NuPath Community Credit Union. The merger expands the field of membership and also provides a presence both downriver and on the western side of Michigan.
Community outreach
Community Choice Credit Union and its team members are dedicated to improving the communities we serve. Michigan is also our home and we take pride in giving back and Giving Big! Our community services are centered on our member center locations throughout Michigan (https://www.communitychoicecu.com)”. Welcome to Zeal Credit Union. We are a full-service, non-profit financial institution. Founded in 1954, we now have 11 full service locations throughout Metro Detroit. Our assets exceed $513 million and we have more than 61,000 members who are all shareholders of the credit union. We’re also considered the “company credit union” by numerous local employers.
Zeal Credit Union is pleased to have received ratings that indicate we are among the safest credit unions in the nation. Bauer Financial, Inc. has been analyzing and reporting on the financial condition of the nation’s banking industry since 1983. We have been rated as a five star institution by Bauer Financial which is the highest rating they offer. We have been awarded a SUPERIOR financial rating by IDC Financial Publishing, Inc. IDC Financial is a reputable firm that rates all of the banks and credit unions in the United States. Your deposits are insured to $250,000 by the National Credit Union Administration (NCUA), a federal governmental agency.
Unlike a bank, we are community focused in everything we do. We are also non-profit and that means you get better interest rates, lower fees and reduced cost products and services. Our rates beat the national averages and we have money to lend.
No matter where you are in the world, you’ll find us available 24 hours a day, every day, and as close as your computer, telephone, ATM, check book or debit/credit card. Through Online Banking or Telephone Banking you can request account information, create a loan, transfer funds, learn which of your checks have cleared, when your last deposit was posted, and more.
Please feel free to browse around our website to learn more about the financial services we provide. If you ever need information on our current products please don’t hesitate to contact a Service Representative at 800.321.8570, ext. 200 (https://zealcreditunion.org/history/). Welcome to “Parkside Credit Union is a Michigan-based financial institution serving the community for over 60 years! Parkside offers a full line of financial products and services and provides convenient account access with thousands of nationwide fee-free ATM and service center locations as well as mobile, online and telephone solutions.
Parkside Credit Union is owned by you, our member. Unlike banks that maximize profits for a small group of investors, we are not-for-profit and exist to serve you. Because we return benefits to our members, we are able to offer higher returns on savings, lower rates on loans, and most importantly, low fees. These are just some of the ways Parkside Credit Union is working for you (http://www.parksidecu.org/)”. In 2013, Credit Union ONE celebrated 75 years of service to our members, partners and communities. Our story began in 1938 when 15 neighbors organized the Ferndale Co-Op Credit Union in a local church basement, pooling $158 and their shared commitment to "people helping people". Membership grew slowly at first, to 1,500 in the 1940s, then 14,000 in the 1950s. By the early 1960s we were one of Michigan's ten largest credit unions.
In 1967 our pioneering partnership with Hutzel Hospital became the first of many long-term alliances with leading health care and educational institutions. Today these community partners include the Detroit Medical Center Hospitals, Beaumont Hospitals, St. John Health Systems, Munson Medical Center, and the Barbara Ann Karmanos Cancer Institute, just to name a few.
In 1984 we changed our name to Credit Union ONE, a transition designed to mark our emergence as a statewide institution. Our service areas now include 18 branch offices in Metro-Detroit, Grand Rapids and Traverse City. Through the years, Credit Union ONE has been committed to providing exceptional member value across a complete portfolio of financial products and services. We were among the first to offer the 24/7 convenience of ATM and 24-Hour Telephone Banking account access. We built one of the state's most comprehensive mortgage lending programs, and as member needs evolved, added personal financial planning, retirement and investment products, insurance and brokerage services, becoming a single source for all of our members' financial service needs.
As we enter our eighth decade, Credit Union ONE looks forward to continuing our tradition of high quality based on the same principles that have guided our success since 1938: People Helping People; treating our members with honesty and respect; and providing exceptional value by delivering outstanding products and services anytime, anywhere. We continually strive to provide products and services that are convenient, easy, affordable and dependable.
According to the author “Community Alliance Credit Union has been meeting the financial needs of members and their families since 1966. Membership is available to employees of the Auto Club Group or any of its subsidiary companies, all family members and all retirees. Membership is also available to those people who live, work, worship, volunteer, or attend school in Wayne, Monroe, Oakland, Washtenaw and Livingston Counties.
As a member/owner of Community Alliance Credit Union, you have the right to vote for members to serve on the Credit Union Board of Directors. These Directors are volunteers and agree to serve without compensation (https://www.communityalliancecu.org/open-an-account)”. Welcome to “Michigan Educational Credit Union Since 1942, Michigan Educational Credit Union (MECU) has specialized in serving the unique financial needs of school employees. In December 2012, we expanded our field of membership to include individuals who reside, work or worship in Wayne, Washtenaw, Oakland, Macomb, Livingston and Jackson counties.
MECU is a non-profit financial cooperative that is owned and operated by its members. The Board of Directors is comprised of volunteers who are elected by the Credit Union's members.
Our long standing policy of "once-a-member, always-a-member" means that you can maintain your membership and enjoy the many benefits that MECU has to offer even if you change jobs or move away from the area.
Today, MECU is nearly 50,000 members strong. We offer some of the best savings and loan rates in the area, with fewer fees and lower minimum balance requirements than you'll find at most financial institutions (https://www.michedcu.org/membership)”. “Simplify Your Life With A Better Checking Account Don't settle for the outrageous checking account fees and high minimum balance requirements that are typical at many financial institutions. Michigan Educational Credit Union has a better solution.
With MECU's Draft/Checking account you'll enjoy:
• Interest with only a $5 minimum average daily balance
• No other minimum balance requirements
• No monthly service or "per check" charges
• FREE monthly statements
• First check order FREE when you sign up for payroll deduction or direct deposit
• FREE drafts with direct deposit of your pension or Social Security
• Special discount on check reorders through Internet Home Banking
• Overdraft protection
• Courtesy pay option
• Federally insured
(https://www.michedcu.org/membership)”.
DFCU financial
Legend has it that the engineers pooled $5 each to found what was first called the Ford Engineering Employees Federal Credit Union. Since that modest beginning, the credit union has expanded significantly. Growing over the years In 2003, our name was changed to DFCU Financial as we continued to expand our branch network beyond Dearborn, Michigan. The growth and disbursement of our member base, plus the desire to make doing business with DFCU Financial easy, has driven our branch expansion. As a result, we have members living all over Michigan and all over the globe.
In 2009, DFCU Financial expanded beyond the metropolitan Detroit area with the merger of Cap Com Credit Union with offices in Grand Rapids and Lansing. Cap Com’s roots reach back to the 1930’s when a small group of Lansing firemen created a credit union to serve all municipal employees. In 2010, DFCU Financial completed another merger, which brought branches in the Ann Arbor and Ypsilanti area. The credit union, Mid-West Financial, was founded in 1938 as University of Michigan Hospital Employees Credit Union by the employees of the hospital. The mergers of Cap Com and Mid-West Financial have allowed DFCU Financial to diversify geographically and offer our benefits of membership to more members across the state.
Safe, sound and healthy
Today, DFCU Financial is one of the largest credit unions in Michigan and is among the best managed in the United States. We have more than $3.5 billion in assets, serve more than 200,000 members and have more than 500 employees contributing to our success.
CASH BACK Outstanding financial performance has allowed DFCU Financial to give CASH BACK to members since 2006. To date, the credit union has given members more than $181 million. Catholic Vantage financial credit union of Livonia, Michigan has 6,979 members and assets of $83 million. The credit union opened in 1953, has 17 full time employees and 5 part time employees or 367 members per employees, compared to a national average of 430. Co-op Credit Union is a full service, non-profit, financial institutional that has been saving the community since 1954. We’re confident that you will profit from being part of our saving at Work Program (http://employee.cscu.org/)”.

Conclusion by Todd Buchanan Millennials seem to be a group that most companies feel the need to target; they are a group that was born between the years of 1977 and 1994. This group has very large technology based demands, they do their shopping and banking on line, therefore it is important to this group for a bank or credit union to be able to service these demands. It is necessary for them to do their banking on their mobile devices, therefore, it is important for their financial establishment to have up to date online banking, and have the abilities to transfer funds or pay their bills right from their mobile devices. There are currently 27,000 millennials that currently live in the city of Livonia, add to that the amount of them that work and worship in the city as well (City of Livonia, Michigan, 2014). With 100,000 people, 4,300 businesses, and more than 70 churches, there is a massive opportunity to recruit customers from the community. There are approximately 81,147 people living in Livonia eligible to have a bank account. There are approximately 14,000 people worshiping in Livonia every Sunday. There are approximately 1653 students that graduate every year from the five high schools located in Livonia. With everything combined, there are over 500,000 people that can be marketed towards becoming loyal customers. Even if only 10% of those eligible, became Michigan Columbus Credit Union customers, they would add another 50,000 people to its customer base (City of Livonia, Michigan, 2014). There are various ways to market these people. With three public golf courses, two ice arenas, three outdoor swimming pools, seven in line skating courts, 10 sand volleyball courts, 32 tennis courts, six walking paths, 43 baseball diamonds, 25 soccer fields, and 10 archery ranges, the community seems to like to stay active. Not to even mention all of the high school sponsored sporting events. All of these sporting activities can be marketed by handing out Cozies’, water bottles, golf balls, towels, and bottles of water. All of these items can be purchased with the Michigan Columbus Credit Union logo on them. The cozies’ are $.34, bottle of water $1.00 or less, water bottle $2.00, golf balls $1.65 each, golf towels $1.11 each. Handing out these products will get the Michigan Columbus Credit Union name on the mouths of every person it is handed to. At churches, logoed candy can be set out for coffee hour. Company picnics could have a station handing out grab bags with pens, paper, and other logoed items (Quality Logo Products, 2015).
At every high school, a class could be given to seniors before graduation on how to balance a check book, figure a mortgage payment or credit card payment, what APR stands for, basically how to manage money. Those students taking the class could be offered a monetary certificate to open a checking or savings account. This alone would touch 1653 potential customers.
The credit union could offer special promotions, something unique and memorable; for instance, The Golden Ticket promotion. Every new customer gets a chocolate bar and in some or all of the chocolate bars will be a “Golden Ticket”, just like in the movie “Willy Wonka”. But in this chocolate bar, the ticket will have a monetary value ranging anywhere from $50.00 to $1500.00 and all of the funds would go towards opening a money market or IRA with Michigan Columbus Credit Union. The credit union of course chooses how many of the tickets get the different values. Other promotions could be offered as well; for example, if a customer brings in their child or grandchild to open a savings account the credit union would put $100 in a college savings account for the child to save for their future. This in return would motivate the parents or grandparents to deposit more money in the account for the child’s future. There could be a friends and family recommendation promotion in the form of a $10.00 gift or gas card, there are various ways to hold promotions to market towards gaining new customers. Studies have shown the more people that are contacted; the greater the success rate will be achieved.

Bibliography

(2015, December). Retrieved from Quality Logo Products: https://www.qualitylogoproducts.com/

About Community Financial. (2015). Retrieved December 3, 2015, from Community Financial CU: https://www.cfcu.org/Home_Page_2.html

About MCFCU. (n.d.). Retrieved December 3, 2015, from Michigan Columbus FCU: http://www.mcfcu.net/About_MCFCU_26.html

About Us. (2013). Retrieved December 3, 2015, from Catholic Vantage Financial : https://www.mycvf.org/about/

City of Livonia, Michigan. (2014). Retrieved from United States Census Bureau: http://quickfacts.census.gov/qfd/states/26/2649000.html
Gilikin, J. (2015). Importance of Logos in Business. Retrieved from small business: www.smallbusiness.chron.com

History of the Credit Union System. (n.d.). Retrieved December 3, 2015, from NCUA: https://www.ncua.gov/About/Pages/history.aspx

Membership . (n.d.). Retrieved December 3, 2015, from Michigan Educational Credit Union: https://www.michedcu.org/membership

Statistics. (2015). Retrieved from YouTube: www.youtube.com

Zeal CU History. (2015). Retrieved December 3, 2015, from Zeal Credit Union: https://zealcreditunion.org/history/