tag:blogger.com,1999:blog-8930153101988441660.post1731817364904346182..comments2023-10-20T11:33:42.846-04:00Comments on Bank Marketing Strategy: Bank of America Should Become a Credit UnionAnonymoushttp://www.blogger.com/profile/05424097007271218756noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-8930153101988441660.post-71160333614157431982012-06-11T14:20:45.649-04:002012-06-11T14:20:45.649-04:00I think the point some commenters missed in all of...I think the point some commenters missed in all of this is the growth numbers. Instead of getting beat up about not producing the "soaring growth" the rest of the industry is supposedly seeing, CU marketers need to realize that the Bank Transfer Day phenomena was fun, but the results have yet to translate into real, sustained growth for the majority of CUs. One new account per day per CU is not "soaring" growth. Real growth comes from offering real solutions to real problems in a convenient, affordable way...not beating up on a competitor who is trying to figure out a way to get paid for offering a service. That's like beating up on Apple for charging three times as much for their laptop as HP. Apple figured out a way to charge more for a user experience different from a Windows computer. BofA is trying to find a way to charge more for a user experience different from a credit union. So far -- congressional, media and public criticism aside -- B of A and the rest of the mega banks are still winning the user experience battle...and are still growing.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8930153101988441660.post-4127577690045838572012-03-12T23:16:54.753-04:002012-03-12T23:16:54.753-04:00I think the sensationalism of credit unions is onl...I think the sensationalism of credit unions is only increased by the bad management decisions of big banks of the past. Media will always put a spotlight on any attempt the big banks make to "right their ship" through increased fees to their customer base, regardless of its purpose. I agree with the earlier comment that BofA must highlight their efforts to help build the communities they serve. Research shows that consumers will choose to support a brand based on its philanthropic efforts if all other things are equal.Todd Sanninghttps://www.blogger.com/profile/12186175976131945787noreply@blogger.comtag:blogger.com,1999:blog-8930153101988441660.post-86448323883384771792012-03-07T10:54:57.922-05:002012-03-07T10:54:57.922-05:00Hmm. Maybe ALL banks should change their charters ...Hmm. Maybe ALL banks should change their charters and become credit unions. That would solve a LOT of problems, no?Ron Shevlinhttps://www.blogger.com/profile/03329100429467977434noreply@blogger.comtag:blogger.com,1999:blog-8930153101988441660.post-119179885579104382012-03-05T21:44:13.974-05:002012-03-05T21:44:13.974-05:00With all the bad press big banks have received, it...With all the bad press big banks have received, it is interesting to read a blog with a different perspective. BoA has an opportunity to make this a positive. One way of doing this is by showing the public what they do to support the communities they serve. If they spent advertising time & money promoting the Non-Profits they support, it could be a win win situation for them and the charities they support.Anonymousnoreply@blogger.com