Tom Glatt, Jr’s most recent CUinsight article “Is Credit Union Marketing Back?” is now online. The article explores whether credit unions have recovered the marketing dollars “lost” due to recession-era budget cuts.
The first thing to appreciate is just how much marketing was cut during the recession. Up until the recession became a reality too pressing to ignore, marketing budgets tended to be ever-increasing, with percent changes in marketing budgets generally outpacing percent changes in overall budgets. Once the recession hit, not to mention the financial impact of share insurance recapitalization and corporate system stabilization, credit unions “trimmed” marketing spending by nearly 12%.
The full text of the article can be found on cuinsight.com.
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