Here's a shout out to three credit unions that are innovating online.
Southern California's First Entertainment Credit Union is about to launch a new microsite on June 23, 2008. From the looks of the teaser intro, this is not your basic amateur web video production. It features beautifully produced video with an intriguing storyline brought to life by terrific actors. I can't wait to follow this site after the official launch.
I am big fan of First Entertainment's marketing initiatives. This is one credit union that really knows its field of membership! Considering that these members are from the entertainment business including movie studios, ad agencies and creative firms involved in radio, film, Internet and television, its no surprise that the marketing output of this credit union is wildly entertaining!
Addison Avenue's new youth-centered Addison Cafe microsite
Next up is a fresh new microsite from Northern California's Addison Avenue Credit Union. As one of the founding Zopa US partners, Addison Avenue is no stranger to innovation. This is how Addison Avenue describes its new online venture, "Designed with young adults in mind. The site has products relevant to the needs of that age group and even has a blog that discusses finances in a relevant, real-life way."
America First adds product ratings and reviews to its website
Michigan's (whoops!) Utah's America First Credit Union is the first financial institution that I have run across that has added product ratings and reviews to its website. This is brilliant! Obviously, America First has taken a page out of the playbook of successful online retailers such as Amazon and Apple. This is a brave direct feedback loop that other credit unions are unlikely to follow right away. I can hear the collective credit union masses gasping as they think to themselves, "What if we get a low rating or a bad review on one of our products?"
I bet the folks at America First are thinking, "If we get a bad review, we'll just have to improve our products and services."
Doug True from FORUM Solutions had an excellent guest post on Open Source CU yesterday calling out risk-adverse credit unions. I agree with Doug, but I am also encouraged by these fresh examples and others that I stumble upon daily.