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World Council Takes Tech, Growth Strategies to Latin America
Tuesday, November 24, 2015 6:40 AM

Nearly 200 credit union professionals from Latin America convened last week for a technical workshop in Cartagena, Colombia, to explore payment trends and innovative initiatives to engage more young members. 

World Council of Credit Unions and FECOLFIN (Colombia's national trade association) organized the educational and networking sessions to cultivate strategies for growth through technology. Participants also learned how their efforts to expand financial inclusion play a role in World Council's global campaign, Vision 2020, to add 50 million new members by 2020.

"When our global community of 57,000 credit unions commits to a common vision—and global challenge—to serve more women, youth and rural poor, we show the world we have the power and passion to deliver financial freedom to the unbanked," said Victor Corro, World Council vice president of member services.  

To help credit unions and millennials better understand one another, Sarah Timmins, World Council corporate social media manager, and Daniel Ferretti, Sicredi chief marketing officer, explored digital strategies and new initiatives.

"Connecting with millennials doesn't have to be so complicated. You can narrow it down to three main points," Timmins advised for moving from social silence to social engagement. "First, understand and speak to the values that drive them—happiness, passion, diversity, sharing and discovery. Second, understand their realistic lifestyles and experiences and find ways to amplify their reality. And, finally, make sure they feel informed and involved, not just marketed to."

Ferretti shared the success of the SicrediTouch program, which features products designed to meet young adults' needs in Brazil, to highlight the value of content integration and the potential for collaboration.

By integrating a solid internet presence with content-based interaction through social media, blogs and storytelling, SicrediTouch has helped increase Sicredi's young adult membership by 78 percent.

"The ability to tell your story and your value proposition through a consistent brand strategy is key to attracting the multi-device customers of today," Ferretti said. "Credit unions must focus on their core values in the development of member-centric channels that are reliable and trustworthy."