Credit Union Marketing Opportunity
Hi, I’m Chris Leone and we are on the
campus of VCU in Richmond, Virginia and I’m going to find out what college
students know and don’t know about credit unions. You in the middle of taking finals?
Yeah I got one a couple of hours. What are you studying? Forensics in criminal justice. Okay so Noah do you use a credit union? I do not. Do you use a credit union?
I do not. I do not. Do you use a credit union? No. I do not. I do. You do? And can you tell me why you use a credit union? Hmm, let’s see. So…why do I use the
credit union? I started a while back. I do use a credit union. You do. And why do you use a credit union? It’s much more convenient having a credit card than a debit card. Oh, just
be clear, a credit union. Okay so what do… I thought that meant a credit card. No, not a credit card. So what does that mean? In your words what is a
credit union and how is it different from the bank? Um… Um… Um… Maybe… I don’t know. Can you explain the difference in your words between a credit union and a bank? No. No, and I worked for a bank. Really? Yeah. Interesting. They’re slightly different than banks I believe but that’s about as far as I know. Okay, so what if I told you that a credit union is just like a bank but they’re
not for profit and the money they make is passed back to their members in the
form of higher savings rates and lower interest rates. Would you be interested in
using the credit unions based on that? Yeah it’s definitely something I’d look
into it. That’s pretty cool. That sounds pretty solid. Yeah. Sounds a lot better than what I have. Yeah, so that might be why your mom told you to use a credit union. Probably, yeah. And do
you ever see any marketing for credit unions online? I don’t
no. You don’t see any marketing for credit unions? Do you see marketing for banks? Yeah. Okay and then do you see credit unions advertised online? Not really. No. I don’t think so. No, not really. No, not on social media? Not on my social media. And what kind of social media do you use? Facebook, Instagram. Facebook, Snapchat, Twitter. Facebook, Instagram. Facebook, Instagram. Just like Twitter, Instagram stuff like
that. What kind of social media do you use? Dogbook? Instapooch? You don’t use one, but you know the difference? Yeah. So what’s holding back? So I know better, it’s inconvenient to switch. Inconvenient to switch? Yeah, I’ve been with the same bank since I was 18 years old so it’s just an
inconvenience for switching. So what’s prevented you from looking into a credit union? I didn’t even know about it until today. No one really talks about credit unions. At least not to my age.