Why Credit Unions Should Champion Cash Mobs in Their Community
The Cash Mob concept is a strategic match for a Credit Union regardless of whether they offer business accounts. Using little, if any, monetary resources to get started, Cash Mobs may become the next fad for pro-local individuals to participate on a grass roots level.
“The basic foundation of Credit Unions were as grass roots institutions themselves so I think a Cash Mob is an absolutely natural fit for a credit union,” says Michelle McGovern, Chief Marketing and Development Officer for Firefighters Community Credit Union ($180m/Cleveland, Ohio)
Three simple reasons why Cash Mobs are perfect for Credit Unions:
- Connecting with ‘buy local’ minded consumers has traditionally served Credit Unions well for the obvious audience parity.
- Supporting the home-grown Mom and Pop store and keeping money local, especially in an economy that favors big-box solutions and global solutions, generally produce long-term and raving fans.These fans historically have put their money, and their banking, behind their social ideals.
- Cash Mobs are in direct alignment to our seven cooperative principles. (which really should be posted on each and every Credit Union’s website for all to read if your CU really believes in them) Giving back to the community should be one of our obligations. Autonomy and independence are really what sets us apart, much like the local community retailer.
Even if you don’t have the available staff or Cash Mob expertise you can still sponsor a series of local Cash Mobs. We offer do-it-yourself cash mob packages as well as cash mob event planning consulting. So, now you have no reason not to use Cash Mobs as a marketing tool!
