Report
15
Number
Jan 01 1995

Marketing Credit Union Services: The Role of Perceived Value

This study examines important perceptions and motives that contribute to the relationship between a credit union and its members and discusses how credit unions can use these perceptions and motives to create stronger ties with their current membership and recruit new members.

Professor Dacin uses the concept of “perceived value” to show that customers choice of financial institution is based on their assessment of the entirety of the benefits received for what is given, not merely on price or cost.

By focusing on the tangible attributes and intangible associations of financial institutions that influence individuals’ choice of a credit union over another type of financial service institution, credit union managers can create effective, targeted marketing campaigns based on the perceptions and motives of various groups. Identifying which unique dimensions are important to promote and how best to promote them can lead to marketing campaigns that are relatively resistant to attacks from competitive institutions vying for the same consumers.

Report Number 15