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68 posts categorized "Credit Union Marketing"

March 14, 2014

The Devil, the Details and You.

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by Ron Daly

I was cruising through LinkedIn and saw this post from CU Grow, posted with the intriguing snippet: 

"Let’s be honest, a CEO most likely does not care about the details of the creative as they are more interested in the outcome and value the results of the creative provide."

As a CEO myself, I had to chew that over. Yes, I care about the creative details - I'd like to know they're on-brand and well-done and useful. No, I don't care about every detail - I have to differ creative choices to the creatives I pay to...well, create.

The article is all about KPI's - Key Performance Indicators. What makes a campaign successful? Is it the number of people that click? Is it view/play counts? Is it downloads? 

Chances are, none of these metrics tell you much on their own. Click-throughs matter, but only in the interest of finding how many people bought something on the other end. Views and play counts are nice, but how many of those views can you trace back to a loan offered or a problem solved?  How many downloads of your white paper got you another conversation?  "The Devil's in the Details," they say, and while I don't think you have to be the devil to see how your virtual branch is managing visitors, I think it is important to keep the big picture in focus.

I like the article I read. I like knowing that our online initiatives reduce acquisition costs, boost profitability, and improve operational efficiencies. And I really love seeing all of that happen, start to finish, through the analytics. That's why I like to look at the following pieces of information for any campaign done online: 

1. Campaign Sources - This is an obvious one. I like both a macro- and micro-view of the campaigns because I want to know more about what's working. Are banner ads outperforming email for a certain campaign? What target audience responds best to webinars? In a given email campaign, how far did clickthrough-visitors go in pursuit of information? Which leads me to info-point two:

2. Time Spent and Visit Depth - Of the people that came in from any given campaign source, how long did they stick around and how much reading did they do? Did they download anything? Did they sign up for a webinar? 

3. Where's This Going? - I want to be able to compare the products we're promoting against the page visits for those products. As much as possible, I want to know what brought users to those pages and how much each clickthrough cost.

4. Drawing the Line - For each lead we get, I'd like to be able to draw a line from one point to the next in the road to their admission as a lead. Is this a client? Is this a prospect? Is this a potential partner? What brought them in, what did it cost us, and what's our next step in bringing them on board?

Hopefully these are good guidelines for you as well. All of this information is pretty easy to ascertain if your analytics are correctly set up and you have a good grasp on your costs. As you dig in on your reports and results, ask yourself an even bigger question: "what might change?" As Brent Dixon discussed in his most recent CU Water Cooler post, there are many things to consider when you're looking at one end result. In most cases, you can't point to a single root cause of any effect. Consider everything and try to think of your marketing campaigns (and your department) as a system. How does one piece affect another? Can something be changed to improve overall performance?

The devil's in the details but finding out how each arm of your marketing plan is working with the others is heavenly.

January 28, 2014

The State of Credit Unions in 2014, As Predicted by The "Crystal Ball" of Google

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by Ron Daly

Let's face it - Googling stuff is fun. It has been from the very beginning and it's still a hoot.

Sometimes, Google can show you the future. I decided to put Google's "crystal ball" capabilities to the test and see what 2014 had in store for the industry. I simply put

  • "In 2014, credit unions will *"
  • "In 2014, credit unions must *"
  • "In 2014, credit unions should *"

into the search bar and hit return. And voila! all the interesting tidbits about what the industry should focus on this year. Some highlights: 

"[Credit Unions] must focus on enhancing members’ cross-channel experiences, says Belinda Caillouet, chair of the CUNA Technology Council..."

"Charting Your Course Through 2014", creditunionsmagazine.com

Agreed. Members are leaning hard on technology and demanding more channels that work well with one another. That includes mobile apps, online banking and ATM/branch services that all play well together and stay up-to-date and easy-to-use.

"Financial marketers will be accountable for analyzing the real results of content marketing strategies in 2014. Because every channel ultimately affects all of the others, attribution modeling allows marketers to credit a specific ad or touch point along a sales funnel rather than just the last material viewed or clicked."

"Digital Marketing Trends for Banks and Credit Unions in 2014", TheFinancialBrand.com

Yep, right on the money. The technology we're using to sell to members is getting better and we can start making sense of data and offering products and services that make the most sense for each individual member.

“In the next 12 months, mobile will overtake online in terms of number of users. It already has more transactions."

"5 Mobile Trends to Watch in 2014", cutimes.com

I'll be interested to see the outcome of this one. Mobile's a big part of people's lives, but can credit unions rise to that challenge and create great mobile app experiences in the space of a year? A year, mind you, that's already down to eleven months as of Saturday of this week?

"In 2014, the trusted role of banks and credit unions as the collector of funds, provider of loans, processor of payments and advisor of financial relationships will continue to come under fire from non-traditional players including new financial organizations (neobanks), hardware providers, third party payment processors, and mobile app developers that merchants and consumers are using to chip away at the traditional financial services model."

"Top Ten Banking Trends for 2014", bai.org

More sharks in a still-pretty-small tank? This is the moment CUs have been waiting for — the moment to set themselves apart from the upstarts and prove they can be valued, trusted financial partners by offering sensible services and can't-be-beat member interactions.

"To experience loan growth in 2014, credit unions will need to originate significantly more consumer loans to offset the expected declines in mortgage originations."

"Marketing Overview and Data Report", catalyststrategic.org

I'm really curious about what kinds of loans credit unions will be promoting in place of mortgages (assuming they cut back on mortgage promotions, which some won't). Credit cards? Student loans? Where's the "heat" in lending in 2014?

“Looking ahead to 2014, credit unions can expect to see the CFPB expand its fair lending focus,” said Bundy. “The CFPB’s regulatory agenda unmistakably signals that fair lending will be a focal point of new rule making starting in 2014.”

"CUNA Mutual Group Anticipates Broader Regulatory Focus in 2014", cunamutual.com

"...The CFPB has the luxury in 2014 to move on to topics other than mortgages, such as overdraft, prepaid cards, Reg CC disclosures, and debt collection. To keep track of all of it, take advantage of various resources out there—besides NAFCU, and the CFPB, many law firms have compliance blogs and news alerts you can subscribe to for free. Knowledge is power, so grab on!"

"Credit union industry experts: What’s in store for 2014", cuinsight.com

I bundled those together for a reason: the CFPB will be stepping up its game in 2014. Credit unions will need to arm themselves with information, as mentioned in the second story. There are plenty of great resources out there, both free and paid.

Any other big predictions for this year? Leave them in the comments section.

September 12, 2013

Introvert Media - What "Private" Social Networks Tell Us About the Future of Online Sharing

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by Ron Daly

It used to be that social media was all anyone talked about in business. "How do you use it? How can you grow an audience? Who should we hire to make it happen?"

With social media came a slew of new issues: people sharing photographs of their credit cards on Twitter (that account still exists, but the heck if I'M going to link to it); people sharing account information of every kind with newly-formed social phishing accounts; employees "over-sharing" or, in some cases, taking pictures of members' feet. And then, there's the marketing component. If there's a new medium out there, there must be some way to work in ads and direct sales/customer support, right? 

I don't know if that's true with the offspring of social media - introvert media.

Now, I know - there are nuances to what makes an introvert and an extrovert. I've been around a Myers-Briggs test before - I got a B+ (that's a joke, for any uptight psychologists reading this). But if social media is a more ideal environment for extroverts (lots of sharing, big crowds a must, plenty of feedback) then this new wave of private, shut-off social networks has got to be a big blessing for introverts (small crowds, not a lot of hubbub, not "open").

Take Snapchat, for instance. If you've never come across Snapchat before, ask your local teenager about it - they're likely to have it on their smartphone and use it to send pictures of God-knows-what to their friends. The idea behind Snapchat is pretty simple - take a picture, share with a friend, and a few seconds after they open it, the picture is deleted from their phone and from yours. Snapchat's programmers swear they can't see the pictures and that any attempt to screen-grab shared pictures alerts the photographer that the recipient tried to save the image. The entire point of Snapchat, according to their website, is to "share a moment". Users take pictures, send them to other users, and the pictures vanish. All that remains - at least according to Snapchat's privacy policy - is the memory.

Celly, a service that sends out mass text messages to registered users and is entirely closed off to advertisers and outsiders, is a favorite of plenty of people who are looking to stay in touch...from school systems to small businesses to protest groups. Similar functionality, but built for very small groups with phone access. The app now processes 550 million texts every month to members in 20,000 different groups. It's got nothing on Twitter's size...but it's not supposed to.

Want a better way to talk to your neighbors without having to...you know, actually talk to them? Nextdoor is Facebook for your block association. Users have to register their home addresses and verify they actually live in the community. It's a social network that's only a few "yards" wide.

I went poking around, trying to find an introvert network for people who want to better manage their finances. But let's face it, if you're managing your household's finances, you only want a few people involved in the discussion. Where does it start? What does a network that facilitates private, productive discussions about money look like? Who gets an invite? 

We've wrestled with this a lot in the creation and further development of My Virtual StrongBox. Forget about storage services that sit on your desktop and gobble up your many files and documents for sharing. My Virtual StrongBox is just for you and keeps your information safe and sound behind your online banking. Sure, you can share things with people (with a link that expires after a certain time/number of clicks), and they can send documents to your box if you need them to. But it's not meant to be a catchall - it's meant to be a private place. With all the movement toward introvert media, we see a growing need (as does Barclays, by the way) to present options that keep communications - and communicators - private.

In a world that's getting used to sharing everything, the real show-stoppers will be those that can keep a secret.

Are you getting into "Introvert Media"? Tell us about it in the comments.

January 04, 2013

The First "Duh of the Week" of 2013 is One for the Record Books

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by Ron Daly 

Ever bite down on your tongue while you're eating a lemon? It's a double-whammy of pain. There's the acidic burn of the lemon juice and the "yow that smarts" of cutting your tongue with your teeth. The thought of it is enough to make you wince. 

It's one of those blunders that you could have avoided in a few different ways. For one, stop eating lemons, you weirdo. For two, chew more thoroughly. You've got no one to blame but yourself. 

The first "Duh of the Week" has a lot in common with this twofer of pain - it's something that could have been avoided and it's easily the stupidest combination of dumb ideas I've ever heard.

A Portland-area teen...

  1. drove home drunk from New Year's Eve, then 
  2. told everyone about it on Facebook.

What a dumb move. For starters, he drives home drunk (under-aged, mind you), hitting TWO PARKED CARS in the process. As if that wasn't enough of a bonehead move, he POSTED ABOUT IT ON FACEBOOK, complete with a little winky-face emoticon. 

If you have young people in your home, now's the time to have "the talk" with them.

  • Sit them down. 
  • Tell them you love them. 
  • Explain that if they need a ride, you'll come get them, no matter the situation.
  • Tell them they should never ride in a car with a drunk driver.

    And lastly...
  • Gently remind them how hard you're going to kick their butt if they ever do something this idiotic. 
Drunk driving kills people, and when it doesn't, it can cause untold damage of another kind. The last thing your kids should ever want to do is drink and drive, and the second-to-last thing they should ever want to do is brag about it on a social network

Kudos to the thoughtful Facebook followers who informed the police and got him booked for his idiotic crime. Maybe now, he'll be sending a status update: 

"In jail :( Not as fun as I though it would be..."

Are your employees behaving resposibly on social media? Is the person in charge of your Facebook account making the right decisions?  How sure can you be about all that? Time to start that long-awaited social media policy, maybe? Maybe employees can use "the talk", too.

Comments always welcome. Happy 2013 to everyone!

December 13, 2012

It's "American Pickers"…only the stuff's pretty worthless.

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by Ron Daly 

 I like "American Pickers". I'm a big yard sale guy and I love the idea of getting a big return on a junky little find. One man's trash is another man's treasure, after all.

Unless it's just plain ol' trash.

We were cleaning out the office the other day and I discovered a few rare gems from a bygone age. Among them: 

Photo Dec 05, 11 36 49 AM

Floppy disks! These little wonders used to be our way of moving files from one computer to another. Then, it was CDs. Then, it was thumb drives. Then, it was shared networks. And suddenly, these little springy disks just didn't cut the mustard. A little creative math tells us that a 2GB thumb drive holds as much information as 1,422 floppy disks. So why bother? 

Picked Price: ~$10 for a box of five in 1998

Current Value: Nuthin'. We don't even have a PC with a floppy drive anymore. 

Photo Dec 05, 11 40 30 AM

Phone Books! Two of them. Yep, there are businesses that will still buy yellow page ads and there are still phone companies that will drive around and hurl these fossils out in giant piles. If you think there's anything sadder than an enormous stack of dead trees full of information no one really needs, think again - it could be raining on these piles, making them not only useless, but soggy.

Picked Price: Technically free, but I'm sure I'm paying for them some way or another.

Current Value: Diddly squat.

Photo Dec 05, 11 43 38 AM

A big book on writing direct mail letters! And a heavy book, at that. For it's time, I bet this thing was a great value. But with the lack of attention people give letters anymore and the price of postage, this seems like an instruction manual on using your buggy whip. (Note: Yes, I know, I'm biased - but I'm a consumer, too, darn it. I don't give a lot of thought to direct mail pieces, other than whether to recycle them on throw them in the fireplace for kindling.)

Picked Price: Someone bought this in 1997 for $80, and it's in mint condition - we never even cracked the spine on this thing.

Current Value: I dunno...make me an offer. There are some interesting tips in here about writing, but you'll have to filter them through the past sixteen years of marketing changes.

___

So what have we learned from this? Time marches on. We make new discoveries, set new goals and meet them, and the old relics fade away in the process. Sometimes, they become treasure - there's a big-time market on old typewriters, watches, fancy pens, and anything that's both stylish and useful - even in the age of iPads and wi-fi. 

But certain things are junk, plain and simple. I can't imagine a world where artsy hipsters get up early on a Saturday morning to find old Zip-drives and printer cables. They served their purpose. Hopefully, they've been recycled. But I doubt it. Most of that stuff got swept out of an office that was being renovated, driven to a landfill and chucked into one big pile of mess.

When it comes to technology, awareness helps, as well as an aversion to attachment. Consumers are being educated to love the new and the now and to dislike anything that's a generation back. We update our technology not year-to-year, but week-to-week - "apps" have turned the industry of creating and shipping technology on its ear, letting everyday people get in on the game and create apps for the entire world to use. Computer companies are trying to make every generation of computer slimmer, faster, and more powerful than the generation prior. Why wouldn't you want the fastest, the best, the least-complicated version of anything? 

Why would you do business with a credit union or bank that doesn't make the everyday act of "banking" simple?

Are you going to be a relic? Are you going to be rubbish? Or are you going to be so important to the lives of your members that they'd never dream of throwing you out in the trash?

The strong survive, but the smart thrive.  

If you have comments, leave them here. If you need me, I'll be out in a barn, looking through old soda bottles and bike seats. The rich life, here I come!

September 06, 2012

The Crystal Ball: Will Fewer Credit Unions and More Technology Make a Better Industry?

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by Ron Daly 

If you don't spend a few coffee breaks each week reading The Financial Brand, you're doing yourself a disservice. Jeffry Pilcher, One-Man-Journalistic-Juggernaut, does a great job breaking down the industry from either side - banks, credit unions, and beyond. Best of all, there's really something for everybody. Finance folks? Check. Marketers? Check. Fortune tellers? 

...wait, fortune tellers

Jeffry Pilcher has spent this past week showing us a glimpse of the future...and it might be a little scary for some. 

One article that's turned a lot of heads is "Credit Union Industry Outlook: 5 Years Back, 20 Years Forward". In it, Pilcher predicts that, at the current rate of retraction/"asset shift", half of all credit unions around today will be gone by 2032. The smaller credit unions are dying, hemorrhaging members and losing assets year after year. The larger credit unions keep growing, grabbing up new members and more assets and swallowing smaller credit unions. The bright side? Credit unions will continue to add members AND assets, growing into a stronger, if much smaller, force. Branch growth is slowing for the big guys, and is actually negative for smaller credit unions. 

Now, anyone can tell you the future is tricky to pin down, especially on only five years of evidence. But the reasoning behind Pilcher's prediction is strong and it's not impossible to imagine the industry going this way. Not disappearing, mind you - this isn't any indication that credit unions are dying/are dead. But things aren't looking great for "the little guy". 

I'm not a biologist, but I'm reminded of one of the important parts of evolutionary theory - "only the strong survive". It stands to reason that credit unions with billions in assets will be well set for the next two decades, but what of those with "just enough"? How will credit unions with only a few hundred million (or much less) keep their edge? 

Pilcher's second hum-dinger article of the week, "Killer Online Services Can Level The Playing Field For Smaller Institutions", talks about the relationships people have with smaller institutions versus the "big banks". The trade-off used to be convenience for high-quality service. The game changer, according to this article, is great online banking. The study mentioned in the article shows that online banking penetration for the CUs studied is 73% and that 85%  members surveyed rate their OLB experience as "excellent". 

Recall the first article mentioned in this post. If branches aren't practical to build and members are willing to do most of their banking online, shouldn't you have a virtual branch that really screams? Yes, yes you should. I've been saying as much for years.  

It's nice to hear someone else singing the same tune. Tim Bunch of CapEd FCU wrote a great guest piece on the Financial Brand about turning your online branch (mobile, browser, et. al) into your flagship branch. It's a brilliant article, written by a person who knows what they're talking about in the realm of online development because, hey, he's doing it first hand. His take:

Sadly, online banking doesn’t get the same internal treatment as a physical branch. It’s often something that we like to “set and forget”. It tends to be viewed as an inanimate object. We think of it like a hammer. When our members want to use this hammer, they pick it up and hammer away. But in reality, online banking has so much more potential. We need to stop thinking of it as a tool, and start thinking of it as a branch. Then, add the tools needed to make it an effective branch.

Some of the things Bunch thinks are critical in making the best online branch possible:

  • Pre-filled loan applications
  • Targeted marketing
  • Easy account management/PFM

If I can add a few of my own?

  • Switch kits that actually handle all the action of switching 
  • Single sign-on to other services
  • Wealth management tools/secure document storage and management

The crystal ball always shows a murky picture. It might be that more credit unions survive than predicted, it might be fewer. But what will all the survivors have in common? I'm betting they'll all have a strong focus on mobile and online convenience, a few helpful branches and a commitment to helping their members for the long run. 

Got an insight? Leave it for us in the comment section. 

August 02, 2012

BTD2012: Will It Happen, and If Not, Will You MAKE It Happen?

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by Ron Daly -

Reports vary on how important Bank Transfer Day 2011 was. The 5th of November was supposed to have been the finish line of months of bank-switching and move-making. What came of it? 

According to a new Javelin study, not nearly as much as what might have been. Even though the NCUA and CUNA have speculated that 2011 brought in between 1.3 and 2.1 million members, respectively, Javelin's Mark Schwanhausser has called BTD "a bust". Even though the year saw impressive member growth (by CU industry standards), Javelin's study suggests that 11% of consumers are still eager to switch and some $675 Billion is still up for grabs in 2012...well, what's left of 2012, that is. 

So, when is Bank Transfer Day 2012? Is it needed? Could it happen again as it had before?

Ron Shevlin doesn't think so. From his blog

As far as I’m concerned, BTD 2011 was a passing phenomenon. A one-time shot. The pieces came together at a moment in time in 2011, and those pieces aren’t there for 2012. 

What pieces, specifically? An angry public, for one. People just aren't as incensed this year. They haven't had a "$5 fee-asco" like the Bank of America fee that kick-started the whole affair in 2011. Not to say the "Big-Banks" aren't charging fees - far from it. But there's no kick-start, no "straw that broke the camel's back" this year. 

Another missing component? A strong social media groundswell, created by an outsider, pushed on by concerned and eager fans and followers. You can't just drum those up out of nothing, they have to be hand-made by eager participants. 

And what about the insistance that "every day is Bank Transfer Day"? Yes, it's technically true, but are credit unions making the switch an easy one?

I was at an industry event a few weeks ago when someone insisted that "switch-kits" - the online walk-throughs designed to help people move their money - are "worthless" (their words, not mine). So, what's the key? Is there a snappy, easy way to get money from one FI to another and close accounts? 

And on the other side of the coin, there's a much bigger issue: member attrition. How many members that DID show up thanks to BTD are already gone? How many will we lose this year? If we keep sliding backwards, how will we ever get the growth we need? More startling, the fact that people itching to switch would be willing to pay fees for additional services...as much as $92 million. In FEES! Don't you see how important it is to not only offer "great customer service", but to offer sticky, useable products to back that up (as I discussed in my July CU Community article)? 

I can tell you this - if you're hoping another 50% member increase is just going to fall into your lap, you're dreaming. 

May 30, 2012

Who Are the People in Your Neighborhood? Four Good Ideas for Getting Locally Known

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by Ron Daly 

Album.peopleneighborhood

[image via the Muppet Wiki]

It's time for you to take down that big, scary, Lex Luthor-esque map of the world you have in your office. You know, the one with all the big push-pins in it showing how you're going to take over the world?

If you're reading this, you're a credit union person. Global domination should be off your agenda. Why?

  1. It's a tad bit frightening and we're not necessarily a terrifying bunch.
  2. It's impractical
  3. It's improbable

I've seen credit unions with extra-inclusive fields of membership. I've seen credit unions that have branches in far-flung corners of the globe. But let's be realistic - where are you?

Where Are You? 

It's a big question. For years, we were trying to puff ourselves up to seem big and impressive. Now, we need to recognize that "local" isn't a bad thing - it might be our saving grace. 

Many CUs are repositioning at this moment, trying to remind locals that they have alternatives to their community banks and the big banks. "If you live, work, or worship..." covers a lot of ground, so get out there and show people what you're doing in, and for, that area. 

How? Here are four "good start" ideas: 

Continue reading "Who Are the People in Your Neighborhood? Four Good Ideas for Getting Locally Known" »

May 24, 2012

GUEST POST: Mark Arnold on Becoming Your Members' PFI

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Mark Arnold, CCUE, is an acclaimed speaker, brand expert and strategic planner. Mark speaks regularly to audiences around the country on branding, marketing, strategy, leadership, personal growth and generational issues.  With over 20 years experience in the financial services industry, Mark’s breadth of knowledge covers areas such as marketing, business development, human resources, training, and sales. You can follow him on Twitter [@jmarkarnold] or via his blog at blog.markarnold.org

_______

 

BEYOND A SAVINGS ACCOUNT: BECOMING YOUR MEMBERS PFI

“Credit unions must see themselves as relationship managers. As relationship managers, credit unions better position themselves to become members’ primary financial institution.”

—CUNA E-Scan 

While there is a big rush today to get more new members, one marketing strategy your credit union may want to focus on is getting more from your existing members. Most marketing experts estimate it is eight to ten times easier to expand a relationship with a current member than it is to acquire a new member. Just think about it: what would happen if every one of your members just added an additional product or service per household? Odds are, your net income would skyrocket.

Credit unions must get their members to go beyond just having a savings account and strive to become their members’ primary financial institution. “Financial institutions that make retention one of their top three priorities often enjoy deeper relationships, steadier growth and clearer focus on the core business,” says CUNA’s E-Scan.

According to CUNA, here are the odds of your credit union losing a member based on product usage:

  • 2 to 1 of losing a member if they only have a saving account
  • 10 to 1 of losing a member if they have savings account and a checking account
  • 20 to 1 of losing a member if they have savings account, a checking account and a loan
  • 100 to 1 of losing a member if they have savings account a checking account a loan and any fourth product

Product penetration and member retention are directly linked together.

Two steps your  credit union can take to going beyond just having your members’ savings account are:

1)      Offer relationship pricing

2)      Get sticky products in their hands

Continue reading "GUEST POST: Mark Arnold on Becoming Your Members' PFI" »

May 01, 2012

Still don't have a social media policy? Bet you'll write one after this...

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by Ron Daly 

Yeah, I know. You're tired of getting poked and prodded and constantly reminded that you need to hurry up and implement your social media policy. After all, you don't even use Facebook or Twitter or YouTube or Pinterest or FourSquare or...whatever else there is. How important could it all be? 

What if an employee was shooting videos of your member's feet? 

You balk. That's ridiculous, you're thinking. What kind of person would go around shooting videos of people's feet

A credit union employee, that's who. From the Financial Brand:

The Financial Brand first learned about this series of shocking and offensive videos when one popped up on an automated Google Alert for “credit union” + “YouTube.” Someone under the YouTube handle marajohn1123 had posted an odd video of a female credit union co-worker’s toes. When a similar Google Alert was triggered for another video, this time of a member’s toes, it was clear that a credit union somewhere had a serious problem with a serial voyeur.

Presently, there are over 100 videos of women’s feet, all shot spycam style without the knowledge and approval of the victim. Based on information revealed in the videos, the videos were likely shot in and around a suburb of Atlantic City.

The credit union employee appears to be a loan officer or similar member service rep, but that doesn’t stop him from leaving his desk to film members’ toes at the branch ATM.

This is a gross abuse of trust. The emphasis in that last passage is mine - Jeffry Pilcher did a little detective work around which credit union might be employing this voyeur. He's narrowed it down to a few possible places. I'm hoping at least one employee there has the intelligence to figure out who this might be and bring this to the attention of the management. Because where does it stop? 

Think about it for a minute. Most of the videos in that story appear to be shot on a smart phone. What happens when it's not feet they're recording, but credit card and debit numbers? Checking account numbers and balances? Still not seeing a problem? 

I don't want to dismiss what's being done here - taking video of someone without their knowledge is wrong. Add to that the fact that these are being used to feed a fetish (one assumes), you're talking about not only a breach of trust, but serious damage to the CU's reputation. This employee should be fired, full stop. 

"On what grounds?", you ask. 

And THAT'S why you need a social media policy. Now. Today. 

As Jeffry said in a comment further down on this same post

If you don’t have one yet, this kind of situation should illustrate the gravity of need. If an employee posted something that you wouldn’t want on social channels — not necessarily stuff as bad/potentially illegal as what Marcus did, but bad just the same — a social media policy can give your organization the legal leverage you need to deal with the problem swiftly and without complications.

But where to begin? This article from Credit Union Magazine is a great resource to get you started. Their list of best practices covers a lot of ground. 

  • Define social media usage expectations clearly in your policy;
  • State that employees may only access social websites consistent with the credit union’s security protocols (i.e., they may not circumvent information technology security protocols);
  • Educate staff on the risks of exposing confidential information about their employer, other employees, volunteers, and members;
  • Monitor social media use via credit union resources;
  • Outline expectations for reporting policy violations;
  • Enforce policy violations in a nondiscriminatory manner;
  • State that retaliation for reporting violations is not tolerated; and
  • Define personal off-duty use of social media. For example, supervisors should not “friend” their direct reports due to the potential sharing of personal information.

A word on the "monitor" part of that equation - the employee who was shooting these videos was, as I said above, most likely doing this via smart phone. That doesn't use the credit union's data network - that's technically external use. If you aren't watching out for threats internally and externally, you're doing yourself - and the members who might be at risk - a disservice. 

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