Through independent research and innovation, the Filene Research Institute explores issues vital to the future of credit unions and consumer finance.


CU Tomorrow Blog

  1. Kevin Bacon and credit unions

    Takingchanceimage2

    What do HBO and Kevin Bacon have to do with credit unions and young adults?

    Only this personal cognitive blip: I saw the trailer for the HBO movie ‘Taking Chance’ this morning. I’ve never worn the uniform, but I am proud of, sometimes dumbfounded by, those who have. After browsing and finding that I couldn’t order the movie a la carte when it airs Saturday night I signed up for HBO.

    The trailer caught me. I was hooked. And HBO nabbed another subscriber.

    Credit unions don’t get to (and shouldn’t) ply my emotions like HBO does, but a parallel thing happened a year ago. After remaining a passive aggressive customer of Bank of America for years, I saw Addison Avenue’s version of Dividend Rewards Checking. I joined within days and have never regretted it.

    I think we can all agree that 95% of credit union marketing goes into selling commodity products under different brand names. But when credit unions introduce something genuinely new, like GECU’s Savings Challenge, TDECU’s 0% Credit Card, or Michigan credit unions’ Save to Win contest, the question is not “Should I join?” but “How can I?”

    What other genuinely unique credit union products are floating around out there?

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