Marketing expense per member is a good measure to know how much a credit union is spending in marketing to its members and then how effective the marketing is. It is calculated by dividing the Total Educational and Promotion Expense during June 2020 by the Total Members at the end of June 2020.
Below we have listed the Top 50 Credit Unions with Highest and Lowest Marketing Expense Per Member as of June 2020. ( CUs with Asset size more than $500M are taken into consideration. )
For the credit unions that are spending on the lower end, are they being more efficient in communicating their message to their members and prospects? Are they using more digital ways than traditional ways (such as newspapers, billboards, radio/TV ads), etc.? Are they using more automation technologies?
Here is the list of Top 50 CUs with Lowest Marketing Expense Per Member.
# | CU Name | State | Total Assets | Total Members | Marketing Expense Per Member | URL |
1 | N C P D Credit Union | NY | 809M | 16K | $0.00 | http://ncpdfcu.org |
2 | State Employees' Credit Union | NC | 45,192M | 2,512K | $0.05 | http://www.ncsecu.org |
3 | Connecticut State Employees Credit Union | CT | 2,088M | 66K | $0.21 | http://csecreditunion.com |
4 | State Farm Credit Union | IL | 4,755M | 124K | $0.22 | http://www.statefarmfcu.com |
5 | Municipal Credit Union | NY | 3,617M | 589K | $0.26 | http://www.nymcu.org |
6 | Latino Community Credit Union | NC | 536M | 89K | $0.37 | http://www.latinoccu.org |
7 | Centris Credit Union | NE | 861M | 112K | $0.66 | http://www.centrisfcu.org |
8 | Utah Power Credit Union | UT | 799M | 28K | $0.71 | http://www.utahpowercu.org |
9 | Liberty Bay Credit Union | MA | 708M | 28K | $0.75 | http://www.libertybaycu.org |
10 | Self-Help Credit Union | NC | 1,226M | 89K | $0.76 | http://www.self-help.org |
11 | Family Security Credit Union | AL | 776M | 85K | $0.78 | http://myfscu.com |
12 | Apco Employees Credit Union | AL | 3,215M | 72K | $0.82 | http://www.apcocu.org |
13 | Safe 1 Credit Union | CA | 739M | 70K | $0.83 | http://safe1.org |
14 | Schlumberger Employees Credit Union | TX | 924M | 30K | $0.83 | http://www.secu.slb.com |
15 | Greenwood Credit Union | RI | 617M | 75K | $0.87 | http://www.greenwoodcu.org |
16 | Connexus Credit Union | WI | 2,971M | 378K | $0.96 | http://www.connexuscu.org |
17 | Communitywide Credit Union | IN | 500M | 54K | $1.37 | http://www.comwide.com |
18 | Truwest Credit Union | AZ | 1,312M | 94K | $1.52 | http://www.truwest.org |
19 | Mayo Employees Credit Union | MN | 1,176M | 65K | $1.58 | http://www.mayocreditunion.org |
20 | Los Angeles Credit Union | CA | 1,096M | 70K | $1.70 | http://www.lafcu.org |
21 | Triangle Credit Union | NH | 790M | 58K | $1.78 | http://trianglecu.org |
22 | Tower Credit Union | MD | 3,592M | 194K | $1.86 | http://towerfcu.org |
23 | Merced School Employees Credit Union | CA | 610M | 43K | $1.88 | http://mercedschoolcu.org |
24 | Usalliance Credit Union | NY | 1,932M | 122K | $2.05 | http://www.usalliance.org |
25 | Consumer Credit Union | TN | 520M | 42K | $2.10 | http://consumercreditunion.com |
26 | Cedar Point Credit Union | MD | 622M | 45K | $2.22 | http://www.cpfcu.com |
27 | Partners Credit Union | CA | 2,097M | 181K | $2.27 | http://www.partnersfcu.org |
28 | Apci Credit Union | PA | 648M | 18K | $2.28 | https://www.apcifcu.org |
29 | Merck Employees Credit Union | NJ | 2,068M | 25K | $2.28 | http://www.merckcu.com |
30 | Washington State Employees Credit Union | WA | 3,740M | 283K | $2.29 | https://wsecu.org |
31 | Altaone Credit Union | CA | 668M | 55K | $2.31 | http://www.altaone.org |
32 | True Sky Credit Union | OK | 712M | 55K | $2.31 | http://www.trueskycu.org |
33 | The Summit Credit Union | NY | 1,091M | 88K | $2.33 | http://www.summitfcu.org |
34 | United Nations Credit Union | NY | 6,441M | 155K | $2.36 | http://www.unfcu.org |
35 | First City Credit Union | CA | 783M | 63K | $2.51 | http://firstcitycu.org |
36 | Sandia Laboratory Credit Union | NM | 2,891M | 112K | $2.52 | http://www.slfcu.org |
37 | Thrivent Credit Union | WI | 713M | 59K | $2.54 | http://www.thriventcu.com |
38 | First Community Credit Union | OR | 1,309M | 80K | $2.56 | http://www.myfirstccu.org |
39 | Seattle Metropolitan Credit Union | WA | 896M | 52K | $2.58 | http://www.seattlecu.com |
40 | Police & Fire Credit Union | PA | 6,311M | 347K | $2.59 | http://www.pffcu.org |
41 | Redstone Credit Union | AL | 6,104M | 537K | $2.64 | http://www.redfcu.org |
42 | Houston Police Credit Union | TX | 840M | 31K | $2.65 | http://www.hpcu.coop |
43 | Efcu Financial Credit Union | LA | 599M | 48K | $2.71 | http://www.efcufinancial.org |
44 | Self-Help Federal Credit Union | NC | 1,449M | 79K | $2.71 | http://www.self-helpfcu.org |
45 | Marine Credit Union | NC | 788M | 83K | $2.78 | http://marinefederal.org |
46 | Texans Credit Union | TX | 1,792M | 114K | $2.82 | http://www.texanscu.org |
47 | Bay Credit Union | CA | 1,256M | 79K | $2.89 | http://www.bayfed.com |
48 | Members 1St Credit Union | PA | 5,317M | 451K | $2.97 | http://members1st.org |
49 | Tlc Community Credit Union | MI | 611M | 53K | $2.98 | http://www.tlccu.org |
50 | Golden Plains Credit Union | KS | 729M | 80K | $3.03 | http://www.gpcu.org |
On the contrary, here is the list of Top 50 CUs with Highest Marketing Expense Per Member.
# | CU Name | State | Total Assets | Total Members | Marketing Expense Per Member | URL |
1 | First Entertainment Credit Union | CA | 1,753M | 88K | $46.89 | http://www.firstent.org |
2 | Community Choice Credit Union | IA | 631M | 49K | $43.84 | http://comchoicecu.org |
3 | Evangelical Christian Credit Union | CA | 733M | 15K | $37.87 | http://www.eccu.org |
4 | University Credit Union | CA | 823M | 41K | $36.37 | http://ucu.org |
5 | City Of Boston Credit Union | MA | 504M | 31K | $30.58 | http://www.cityofbostoncu.com |
6 | Esl Credit Union | NY | 7,366M | 372K | $28.72 | http://esl.org |
7 | Fivepoint Credit Union | TX | 744M | 48K | $27.67 | http://www.5pointcu.org |
8 | Capital Credit Union | ND | 596M | 30K | $27.23 | http://capcu.org |
9 | Affinity Plus Credit Union | MN | 2,885M | 214K | $26.55 | http://www.affinityplus.org |
10 | Self Reliance Ny Credit Union | NY | 1,414M | 15K | $24.67 | http://www.selfrelianceny.org |
11 | Communityamerica Credit Union | MO | 3,537M | 251K | $23.87 | http://www.cacu.com |
12 | Greater Nevada Credit Union | NV | 1,264M | 76K | $22.36 | http://www.gncu.org |
13 | 121 Financial Credit Union | FL | 588M | 46K | $22.33 | http://www.121fcu.org |
14 | Island Credit Union | NY | 1,594M | 45K | $22.29 | http://www.islandfcu.com |
15 | Verve, A Credit Union Credit Union | WI | 1,409M | 66K | $21.09 | https://www.verveacu.com |
16 | Charlotte Metro Credit Union | NC | 707M | 61K | $21.07 | http://www.cmcu.org |
17 | Silver State Schools Credit Union | NV | 933M | 55K | $20.65 | https://www.silverstatecu.com/ |
18 | Elga Credit Union | MI | 966M | 75K | $20.57 | http://www.elgacu.com |
19 | Freedom Credit Union | MA | 563M | 31K | $19.32 | http://www.freedom.coop |
20 | Inova Credit Union | IN | 517M | 41K | $19.27 | http://www.inovafcu.org |
21 | Community Financial Credit Union | MI | 1,120M | 78K | $19.21 | http://www.cfcu.org |
22 | Texas Bay Credit Union | TX | 546M | 47K | $18.89 | http://www.tbacu.org |
23 | Greenstate Credit Union | IA | 6,660M | 229K | $18.05 | http://greenstate.org |
24 | Du Trac Community Credit Union | IA | 838M | 48K | $17.75 | http://www.dutrac.org |
25 | Elevations Credit Union | CO | 2,471M | 146K | $17.60 | http://www.elevationscu.com |
26 | Christian Community Credit Union | CA | 760M | 31K | $17.55 | https://www.mycccu.com/ |
27 | Stanford Credit Union | CA | 3,297M | 74K | $17.38 | https://www.sfcu.org |
28 | Wescom Central Credit Union | CA | 4,480M | 196K | $16.88 | http://www.wescom.org |
29 | Community 1St Credit Union | IA | 815M | 59K | $16.42 | http://www.c1stcu.com |
30 | Premier Members Credit Union | CO | 1,375M | 78K | $16.42 | http://www.pmcu.org |
31 | Oneaz Credit Union | AZ | 2,416M | 145K | $16.37 | https://www.oneazcu.com |
32 | United Heritage Credit Union | TX | 1,165M | 68K | $16.35 | http://www.uhcu.org |
33 | Neches Credit Union | TX | 730M | 66K | $16.30 | http://www.nechesfcu.org |
34 | Michigan State University Credit Union | MI | 5,375M | 293K | $16.09 | http://www.msufcu.org |
35 | Westmark Credit Union | ID | 931M | 63K | $15.98 | http://www.westmark.org |
36 | Granite Credit Union | UT | 606M | 29K | $15.97 | http://www.granite.org |
37 | Ent Credit Union | CO | 6,916M | 389K | $15.95 | http://www.ent.com |
38 | Credit Union 1 | IL | 1,115M | 87K | $15.70 | https://www.creditunion1.org/ |
39 | Salal Credit Union | WA | 912M | 45K | $15.44 | http://www.salalcu.org |
40 | United States Senate Credit Union | VA | 1,094M | 41K | $15.37 | https://www.ussfcu.org |
41 | Ithink Financial Credit Union | FL | 1,687M | 94K | $15.35 | http://ithinkfi.org |
42 | Greater Texas Credit Union | TX | 772M | 71K | $15.34 | http://www.gtfcu.org |
43 | Suffolk Credit Union | NY | 1,339M | 62K | $15.24 | http://www.suffolkfcu.org |
44 | Utah First Credit Union | UT | 601M | 25K | $15.24 | http://www.utahfirst.com |
45 | Dupaco Community Credit Union | IA | 2,146M | 131K | $15.22 | http://www.dupaco.com |
46 | Navigant Credit Union | RI | 2,671M | 106K | $15.12 | http://www.navigantcu.org |
47 | Founders Credit Union | SC | 2,957M | 226K | $14.99 | https://www.foundersfcu.com |
48 | San Diego County Credit Union | CA | 9,284M | 423K | $14.95 | http://www.sdccu.com |
49 | Commonwealth Credit Union | KY | 1,552M | 108K | $14.91 | http://www.ccuky.org |
50 | Provident Credit Union | CA | 3,097M | 125K | $14.90 | http://providentcu.org |
It would be interesting to understand what these credit unions are doing when they are spending on their marketing. And what can these credit unions work towards, to bring down their marketing expense per member.
While creating this list, of course, there were some Assumptions and Limitations as below that we took into consideration.
Assumptions and Limitations
1. Call 5300 report does not provide details on how the marketing expense was made. How much was made for traditional media (TV, Radio, Newspaper, Magazines, Billboards, etc.) vs digital media (Search, Social, Banner, etc.)
2. What all expenses are part of the promotional and educational expense as reported on Call 5300 report may differ from credit to credit union.
3. Investment in marketing technology and marketing team compensation may not be reported as part of the Educational and Promotional expense in Call 5300 report. Therefore it is difficult to do an apple to apple comparison between peer credit unions
We would be excited to know what you think about this?
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