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Posted: Jul 6, 2017
Comments: 2
Author: Lou Grilli

And what does this have to do with credit unions?

Polaroid is a MBA business school classic case study of a company whose management was blindsided by innovation, even when indicators were present, but ignored. Polaroid’s peak employment was 21,000, and by the late 1990s Polaroid was a top seller of digital cameras; its peak revenue was $3 billion in 1991. But other digital cameras flooded the market, its film sales plummeted, and Polaroid declared bankruptcy in 2001.

Blockbuster is another classic case study of being blind to innovation. Going to a blockbuster store and picking out a rental video was a Friday or Saturday night tradition for many households. But Netflix’s adoption of putting DVDs in the mail, replaced with streaming and on-demand content was what finally put Blockbuster away.

The taxi industry has not made it to business school case study of failures, but tis getting close. The taxi 

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Posted: May 30, 2017
Comments: 0

Why content is the most powerful tool in building & maintaining your brand

They say “cash is king” but so is content in the world of marketing. PR & communications plans have evolved from the days when our focus was solely on press releases, print ads, radio and TV commercials and a website describing our products and services. Today, a good PR & Communications plan still incorporates these elements, but it is largely focused on content creation, distribution and management that goes beyond selling and into positioning your brand as an expert in the market. In fact, it may be more accurate to refer to these plans as content marketing plans; and they play an even bigger role in driving your overall marketing strategy.

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Posted: May 10, 2017
Comments: 0

How getting your employees involved can help to grow your CU's brand

Social Media has become a mainstay in the way we communicate today. Recent statistics on SocialMediaToday.com, states that there are 1.9 billion unique monthly users on Facebook; 1 billion on YouTube; 600 million on Instagram; 317 million on Twitter; 106 million on LinkedIn and millions of users joining many other channels monthly. With these numbers, there are very few people who would argue against the fact that social media has become an essential means of communicating. The magnitude of this is emphasized when we experience the impact of information “going viral”. In seconds, the world is watching.

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Posted: Mar 28, 2017
Comments: 0
Author: Kristen Feazell

Increase in Year-over-Year Outstandings from $115m to $133m

[Editor's Note: This article was updated to reflect our current company name, Trellance.]

There is no doubt that the consensus across the financial industry is that we are all operating in a competitive market place. However, those in the know understand that competition brings opportunity to grow to levels beyond what we thought possible.  This was the sentiment expressed by Chris Slane, Director of Payments at Chartway Federal Credit Union, one of the country’s leading credit unions. “Credit unions are conservative,” Slane noted.  “There is a lot of risk aversion in the industry particularly regarding credit limit increases and members defaulting … but in order for us to elevate the industry we have to be prepared to take the risks; we have to get beyond the narrative of evading any option which might impose a loss and start getting into psychology of growth through strategic risk.  We need to be willing to step out of our comfort zone and meet the members where they are.” Slane, along with Denise Bennett, Chartway’s VISA Consultant, shared the process that lead to a successful Credit Line Increase Program (CLIP) with their strategic partner, Trellance.

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Posted: Mar 7, 2017
Comments: 0
Author: Kristen Feazell

A significant 16% year-over-year increase in interest income on balances.

[Editor's Note: This article was updated to reflect our current company name, Trellance.]

As competition increases in the financial industry, more credit unions are embracing new marketing strategies to drive revenue and grow their business portfolios. Marketing support has become one of the most sought after business resource among credit unions who wouldn’t normally employ special marketing campaigns. Some have found it more beneficial and cost-effective to outsource this function or seek assistance from external providers to execute campaigns. President of PeoplesChoice Credit Union, Luke Labbe shares his experience in using Trellance’s 12 month marketing program, Optimize Portfolio Growth Solutions, to re-energize their 25 year old card program.

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