When is an auto loan not about the loan? It’s no riddle, the answer is simple: When it's just about the car. Universally, members have a positive reaction to the car they are buying, and a negative reaction to the loan. Even if the rate is low and the terms are great, the thought of parting with money or getting into debt can be a painful one. However, when a member is wrapped up in the good feelings of buying their dream car, they feel more positive about going through the auto loan process. Therefore, if a member is fixated on price, it’s best to turn their attention elsewhere.
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White labeling is when a product or service that is produced by one company is rebranded by another company for its own use or distribution. White label branding is often used for mass-produced generic goods including electronics, food products, software packages, and web applications. The idea behind it is that companies use white label products to enhance their successful brand, being able to offer a product/service without having to invest in creating the technology and infrastructure itself. Attaching a familiar brand to an unfamiliar product is a great way to gain the trust of loyal customers of that brand.
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When it comes to auto loan promotions, credit unions can no longer turn to the same annual marketing strategy, claims one expert.
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Annual meeting is a time to reconnect and recharge with Credit Unions!
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I’m sure that you’ve heard the viral debate about Yanny and Laurel. If you haven’t, then quickly Google it. This short audio clip has exploded over the past week or so and has completely puzzled the world. What did you hear? Yanny or Laurel?
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