GREENVILLE, S.C. – Your Marketing Co. has launched a “No Credit Union Left Behind” initiative it said is designed to make strategic marketing more affordable for small credit unions.
The company said it is offering special savings for new credit union clients under $150 million and under $50 million in assets.
“Empowering smaller credit unions with accessible marketing solutions not only fosters their growth, but also contributes to the overall strength and vitality of the industry,” YMC President and CEO Bo McDonald in a statement.
YMC said its current roster spans credit unions from $21 million up to $355 million in assets. The average credit union is $112 million.
“Every credit union, regardless of size, represents a unique community bond and financial lifeline for its members,” McDonald said. “Preserving these institutions is about safeguarding the heartbeat of local economies and empowering their members to thrive.”
The company said many of its client credit unions are “witnessing phenomenal growth,” including:
- Bridgeton Onized Federal Credit Union, a New Jersey-based $47 million credit union, recorded loan growth of 33.64% in 2023
- Maple Federal Credit Union, at $68 million in total assets, grew membership 4.29% in the greater region of Lafayette, La., while growing loans 13.15%
- Along the border of New York and Vermont, $64 million Great Meadow Federal Credit Union reported return on average assets (ROAA) of 1.38% in 2023.
- For the first quarter of this year, Mint Valley Federal Credit Union, a $22 million credit union based in Longview, Wash., recorded double digit loan growth and was among YMC’s top five in the category.
“We’ve found that boutique credit unions can stand at the forefront of industry innovation – armed with strategic insights and creative solutions tailored to engage, educate and retain the next generation of members,” McDonald said in a statement.
McDonald added that small credit unions can “sharpen their expertise and credibility and target their market. A clear niche helps one’s brand become a big fish in a small pond. And as vulnerable borrowers face unfair terms and deceptive tactic with excessively high-interest rates from other lenders, small credit unions can help consumers avoid debt traps, loss of assets and damages to their credit core.”
According to Your Marketing Co., the special savings for new clients under $150 million and $50 million are for mission- and vision-driven credit unions that have positive, can-do attitudes