Jeff Stephens

Free Webinar on Experiential Branding for Banks and Credit Unions

// June 30th, 2010 // No Comments » // Banks, Brands and Branding, Creative Brand Communications, Credit Union, Jeff Stephens, New banking ideas, Presentations

If you didn’t see it over at CBC’s bank marketing blog, I’m going to be hosting a webinar on July 27 at 11 am PST for one hour, covering one of my most popular topics: Experiential Branding for Banks and Credit Unions.  This webinar will be based on the presentations I deliver as a speaker at bank and credit union conferences around the country.  Here’s a brief synopsis:

“Powerful financial brands can be more than seen with the eyes–they are experienced by customers, employees and the community with all five senses. Jeff Stephens will provide an introduction to how banks and credit unions can use experiential brand development philosophies to create engagement and break from the bonds of a commoditized banking industry.”

Here are the details–I hope you will join us:

Tuesday, July 27, 11am PST / 2pm EST
50 minutes; 10 minutes Q&A
Price: Free
Max Attendees: 15

To register, email webinars@creative-brand.com

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The Difference Between Banks and Credit Unions

// January 29th, 2010 // 11 Comments » // Banking, Banks, Credit Union, Jeff Stephens

I had an interesting thought today, sparked by several tweets, blog posts, and a conversation with a potential client.  It was about the common discussion in our industry:  the differences between banks and credit unions.

We all know, there is indeed a difference.  It’s not that one is inherently better than the other, but there are differences for sure:  legal charters, ownership structures, regulatory differences, etc. There are thousands of websites (like this one from CUNA) with information about how credit unions are different. Still, people don’t widely understand these differences, and frequently make mistakes about them.  Most consumers confuse the two, and the media clearly confuses them routine–they often call credit unions “banks” in news stories.

So here’s the interesting question:

Why is it only credit unions who get pissed about this misunderstanding and confusion between banks and credit unions?

Shouldn’t the banks get just as angry? After all, lumping the two together is a mixup that adds just as much confusion about what banks really are, as it does to what credit unions really are.

Sure, I understand that credit unions are called banks more frequently than banks are called credit unions. But think about it: both banks and credit unions alike have every reason to be aggravated by this continued and frequent mixup. So why don’t we hear more uproar from banks? How come there are no chants about “the bank difference” like there are for “the CU difference”? Shouldn’t both sides be equally interested in clarifying their qualitative differences and arming consumers with accurate information?

In other words, why aren’t banks offended when credit unions are lumped in with them?

(BTW, I honestly don’t have an opinion I’m trying to sell you, on this topic. I just find it extremely interesting and would love to hear your theories.)

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